Approaching hurricane season brings direct deposit push
WASHINGTON (5/18/06)—The U.S. Treasury Department is urging Social Security recipients along the Gulf Coast and Eastern seaboard to prepare for hurricane season by signing up for direct deposit to prevent any possible disruption in the delivery of their benefits checks.
The Treasury announcement said that in the critical days following Hurricane Katrina in 2005, the department worked with the Social Security Administration to get displaced recipients their payments as quickly as possible.
"But those who already were using direct deposit had immediate access to their funds from virtually anywhere, thanks to automated teller machines and financial institution networks," the announcement noted..
The Treasury launched its Go Direct automatic deposit campaign last September to encourage recipients of government checks to safeguard their funds by having them deposited electronically into their accounts.
According to it figures, about 12 million people across the United States continue to receive their federal benefit payments by paper check – putting them at risk in the event of a natural disaster or a major life change.
In the wake of the devastating hurricanes last year, the Treasury Department accelerated its enrollment procedures for hurricane evacuees and set up a toll free hotline.
The Credit Union National Association (CUNA), as a Go Direct partner, endorses the advantages of the program for consumers, as well as the benefits to financial service providers. These advantages include safety, fraud protection and convenience.
More Washington
News Now LiveWire
- Iowa Gov. Terry Branstad credited Dupaco Community CU for its role in helping an Iowa small business grow and create jobs. - 2 hours ago
- Iowa Gov. Terry Branstad visits Dupaco Community CU, notes CU's role in helping small bizzes grow & creating jobs in state. - 4 hours ago
- Gunman killed Friday in shootout w/ police outside PBC CU, West Palm Beach, Fla., I.D.'d as Christopher Brown, 18. No one hurt inside CU. - 4 hours ago
- In Wash Post article on ?end of Fannie and Freddie,? CUNA?s Hampel says CUNA, CUs are working on contingency plans. http://t.co/bzmi57mY - 4 hours ago
- John Bell, an employee of NC Community FCU, has announced his candidacy for the NC House of Representatives. - 3 days ago
- See all our Tweets and sign up; News Now LiveWire on Twitter
