Go Direct Online Tool Makes it Easy to Sign up for Direct Deposit of Social Security Payments
The U.S. Department of the Treasury and the Federal Reserve Banks, as part of their Go Direct campaign, has an online enrollment system for credit unions that allows fast, convenient enrollment in direct deposit for federal benefit payments, including Social Security and Supplemental Security Income (SSI). The online enrollment option is available at www.GoDirect.org.
The online sign-up option allows financial institutions to set up a one-time secure profile that can be used time and again by employees in multiple branches to sign up federal benefit recipients for direct deposit. Each time they enter an enrollment, the financial institution’s profile will provide basic information, which means faster enrollments with fewer errors.
Credit Unions can begin using online enrollment by doing the following:
1. Go to www.GoDirect.org and select “Sign up Now” on the home page.
2. Choose Option 1 – Sign up via our secured system now.
3. Select the enrollment option that applies to you: “Financial Institutions”
4. Select “First Time User?” and follow the step-by-step instructions for registering a new user profile.
5. After activating your profile, you can immediately begin enrolling members.
If you have questions about setting up a profile, call Go Direct Customer Service at (888) 382-3725 and ask to speak to a customer service representative about online enrollment.
NC Credit Union League Partners with Go Direct to Promote Direct Deposit of Social Security Payments
NCCUL has partnered with Go Direct to encourage people who get Social Security payments by check to switch to direct deposit.
Enrolling people in direct deposit has been a longstanding effort by the Treasury for many years. Go Direct is a great campaign for NCCUL and our credit unions to be involved in – because direct deposit is simply the best way to receive Social Security and Supplemental Security Income (SSI) payments. Direct deposit eliminates the risk of lost or stolen checks, reduces fraud and gives people more control over their money. Plus, direct deposit provides people with immediate access to their money from virtually everywhere.
Direct deposit also saves taxpayers millions of dollars. If every current federal benefit check recipient switched to direct deposit, it would save taxpayers about $120 million a year. Almost all money saved remains in the Social Security Trust Fund – a benefit to all Americans for years to come.
Despite efforts to spur the use of electronic payments, growth in direct deposit use has slowed in recent years to less than 1 percent per year. Only 75 percent of newly eligible Social Security recipients are signing up for direct deposit. This is especially relevant today, given the fast-approaching wave of baby boomers due to begin retiring in 2008.
Go Direct reaches out to check recipients through organizations and people they know and trust – people and organizations like us – to inform them about the benefits of direct deposit and to help them sign up for it. Go Direct also uses media outreach, direct mail, advertising and Web sites in English and Spanish.
Credit unions can play a key role in encouraging members who get federal benefits to switch to direct deposit. The Go Direct campaign makes it easy by providing support tools, including a quick step-by-step guide to train staff and volunteers on how to approach people about direct deposit as well as campaign materials and program ideas. All these tools can be found on the special Partner section of the Go Direct Web site at http://www.godirect.org/partners/.
Our support of Go Direct is key to the campaign's success. NCCUL is pleased to support this important initiative to help ensure people’s finances are safe and secure – and accessible.
For more information about Go Direct, visit www.GoDirect.org (English) and www.DirectoASuCuenta.org (Spanish), or call (952) 346-6055 to learn about partnership and volunteer opportunities.
Click on Go Direct documents to open file.
Go Direct FAQ
Materials Order Form