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Carolina CUs payday checking wins award
CHARLOTTE, N.C. (12/6/07)--A program that makes automated clearing house payroll available two days early to U.S. Postal Service (USPS) employees has won an award. The $62 million asset, Charlotte-based Carolina Postal CU’s “Priority Payday Checking” program was bestowed a Best Practices Award by The Credit Union Journal. USPS employees who have a checking account and direct deposit can receive their paychecks on Wednesday, instead of the traditional payday Friday (North Carolina Credit Union League’s Weekly Update Nov. 26). “As a credit union solely serving USPS and federal employees, we look and listen to what our members’ needs are,” said Joy Watts, Carolina Postal CEO. “As with many people, time as one of the biggest concerns facing our USPS members.” From that need, the idea of Priority Payday Checking arose, she said. “Rather than just extend the hours on a payday Friday, like every other financial institution, we decided to think out of the ‘bank’ and we moved payday up by two days,” Watts concluded.
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