The $5.8 billion, 242,000-member San Diego County Credit Union said it is preparing for a new influx of direct deposit business as federal benefits by paper check comes to an end.
The Treasury Department has been in the process of phasing out paper payments and requiring electronic deposits of Social Security checks and other federal benefits, and the switch now must be made by March 1, SDCCU noted.
Benefit recipients can choose to get their payments by direct deposit to a bank or credit union account or to a MasterCard debit account.
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