The U.S. Department of the Treasury announced late last year that by March 1, 2013, all federal payments—Social Security, veteran’s benefits, Supplemental Security Income and other federal payments—will be made electronically. More importantly, starting May 1 of this year, anyone who applies for federal benefits will need to choose an electronic payment option, either direct deposit to a credit union or bank account or to a Direct Express® debit card. Benefit recipients who currently receive checks will need to switch to one of the electronic payment options by the final March 1, 2013, deadline. Anyone who fails to choose by that date will receive their money via the Direct Express® card so they will not experience any interruption in payment.
The move to all-electronic federal benefit payments provides significant savings to American taxpayers who will no longer incur the $120 million price tag associated with paper checks. Electronic payments also are safer, easier and more convenient for benefit recipients. The Go Direct® campaign is helping federal benefit recipients transition to electronic payments. You may enroll online at www.godirect.gov, by phone by calling toll-free (800) 333-1795 or by mail using a paper form available at VSECU. A VSECU member service consultant can help with account and routing information.