Ask Your Employer if Direct Deposit is Available
If so, you may be able to have them set it up to deposit a portion of your paycheck to checking, and a portion to savings. It's safe, it's simple, and it's fast - on payday.
When you use Direct Deposit, you allow a company or organization to electronically transfer money into your credit union account. You will always have peace of mind knowing your money will always be in your account on time. Plus, you still get a pay stub with all the information you're used to having. Direct Deposit is also great for social security checks, retirement checks, pension check, and most other recurring checks. Direct Deposit can help you carry out a savings plan, because your paycheck starts working by earning dividends right away, instead of waiting until you get around to making a deposit.
Direct Deposit Account Information
Here is the information you must give your employer:
ABA Routing Number:Carolinas Telco’s routing number is 253074977.
Account NumberYou must identify the account as "savings" or "checking".
The Federal Reserve requires a 10-digit account number, so simply add three zeros prior to the Member Number. You will also still need to provide the final digit to indicate Savings or Checking.
For example, if your Member Number is 111111, for Direct Deposit or Automatic Withdrawal, the number would be:
S001 Prime Share Savings - 0001111110
For Checking, review your statement or NetBranch to see what type you have:
015 Share Draft Checking - 0001111119
017 Share Draft Checking - 0001111117
018 Share Draft Checking - 0001111118
Your employer will most often be your main contact to set up Direct Deposit, through your Human Resources Department. If we already receive your payroll, contact us because Payroll Deduction will allow you to divert a set amount of each paycheck to your savings account. If you don’t see it, you don’t miss it.
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