According to the National Automated Clearing House Association (NACHA), May is National Direct Deposit Month. Throughout this month various types of businesses will be encouraging the use of direct deposit and direct payment instead of paper checks.

Since May 1, 2003 NEBF requires all pension benefits to be electronically deposited. Any bank, credit union, or other financial institution that is a member of NACHA can receive your pension benefit electronically, from us.

Here's how the Direct Deposit process works: once we receive your completed direct deposit form that authorizes us to make a Direct Deposit into your account, we then perform a test run with no dollar amount to make sure that the account information is accurate. Then we process the payment by direct deposit—also known as an Automated Clearinghouse (ACH) transaction. Your financial institution then credits your account and the transaction is reported on your monthly statement.

If needed click here to download one of our Direct Deposit Authorization forms.