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Direct Deposit
About direct deposit
With direct deposit, you set up automated fund transfers sent electronically to your CAFCU member account via the Automated Clearing House (ACH). ACH is the main system agencies use for electronic funds transfer.
Funds can be accepted into your CAFCU account from anyone who can transmit through ACH, including:
- employers
- insurance companies
- stock dividends from your brokerage
- retirement or government sources
Once established, your direct deposit is posted on the date specified by the payment sender.
This service is available for free to all CAFCU members.
What's great about direct deposit is that your paycheck is deposited instantly and electronically into your account. This allows you to access your funds faster than you would when receiving a paper paycheck.
With direct deposit you also have the option to set up payroll allocation so you can designate parts of your paycheck to different purposes (i.e. checking, savings, loan payments).
Set up direct deposit with CAFCU
Though your employer will ultimately establish direct deposit of your paycheck, we can help you get started with this direct deposit form.
Simply fill out and save this form as a .pdf and give it to your payroll administrator.
Be sure to have your CAFCU member number handy if you don't have it memorized.
You'll also need to indicate your preferred account (checking or savings).
Once your employer processes the direct deposit request, you will be able to see if it went through by logging into digital banking.
Please note that this form is just a courtesy to make it easier for our members to establish direct deposit with an employer. Your specific employer may have their own form or process for establishing direct deposit.
If they do not, you may also be able to simply contact your HR department directly with CAFCU's routing number (271987075) and your member number as your account number to initiate the request.
Find your CAFCU account number
Check the top right corner of your print or eStatements (access eStatements by logging in to digital banking (go to Tools > eStatements > Statements).
Send us a secure message when logged into digital banking.
Contact our Member Center by calling 1-800-359-1939 Monday through Friday from 7 a.m. to 7 p.m. CST. Note that we will need to first verify your identity before providing your member number by phone.
Visit your local CAFCU branch to ask for help.
Change an existing direct deposit
Our direct deposit form .pdf can be used to set up a new direct deposit or change an existing direct deposit from another financial institution to CAFCU.
Fill it out, save as a pdf, and email it to your payroll administrator to get the process started.
Divide your direct deposit into different accounts
With payroll allocation, you can designate parts of your paycheck toward different accounts.
For example, you can use payroll allocation to send parts of your paycheck to:
- your checking account to make payments.
- a savings or money market account to earn interest and save for the future.
- a CAFCU loan to put your payments on autopilot.
Set up more than one direct deposit with CAFCU
About payroll allocation
When you establish payroll allocation, your money is deposited into multiple accounts or loans. It can even be deposited into other members' accounts (e.g. a child's account).
The goal is to help you simplify your life, make CAFCU loan payments on time, and automate savings.
Payroll allocation makes it easy to set it and forget it. However, if your needs change, you can always modify your allocation at any time.
To qualify for this free service, you must first set up direct deposit.
Please note that first mortgage loans and share certificates do not qualify for payroll allocations.
Allocate your paycheck into different accounts
To set up payroll allocation, contact our Member Center by calling 1-800-359-1939 Monday through Friday from 7 a.m. to 7 p.m. CST or visit your local branch once your paycheck has been deposited.
We can set up payroll allocation on your behalf to any CAFCU account or loan on which you are listed as an account owner.
You can also set up scheduled transfers yourself by logging into digital banking. To establish your own recurring transfers between CAFCU accounts, log in to digital banking and choose "Transfers." Then, select the accounts you want to transfer from and to, set the amount and frequency, and choose the start date. You can set your recurring transfer to continue indefinitely or add an end date if you prefer.
