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Direct Deposit & Payroll Deduction Services

Direct Deposit and Payroll Deduction

    • Direct deposit authorization of your paycheck, retirement, or Social Security check allows your money to be sent directly to the account you designate, with no delays and no lost interest
    • Payroll deduction allows you to automatically make deposits to your savings, IRA or loan account. This means your savings are assured to grow and loan payments are made on time
    • Direct deposit and payroll deductions are FREE services to all members
    • Worry free: Your paycheck can not be misplaced, lost, or stolen
    • Hassle free: Your money can get to Texas Bay Credit Union faster than you can
    • Saves time: No long teller or drive-thru lines to wait in during the mad rush to deposit your check
    • Reliable: Your money is deposited the morning of every payday, even if you are sick or on vacation
    • Your money can begin earning interest at the start of business on payday
    • Your paychecks can be electronically credited to your TBCU savings and /or checking accounts
    • Both services are very simple and can easily be started by visiting your payroll department

 

 

ACH Direct Payment

  • ACH (Automated Clearing House) Direct Payment* is a fast and convenient way to have your money transferred from one financial institution to TBCU on a recurring basis
  • Move your money at any time and any amount
  • Use ACH to pay your TBCU loan with funds from another financial institution
  • Use ACH to build your TBCU savings by making regular transfers from another financial institution
  • Free to all members
  • An ACH Direct Payment is used ONLY to transfer funds between accounts at financial institutions on a recurring basis. You can continue to pay your one time payments or monthly bills, such as utilities, phone, etc. by using our Online Bill Payment Service.

Terms and Conditions: All ACH transaction requests must be made before 3:00 PM for next day posting. Any request received after 3:00 PM will be processed the next business day and may take up to 48 hours to post to your account.**

There is no fee for all auto-generated/ recurring transactions. However, a $10 per item fee will be incurred for all one-time transactions initiated outside of a Collections ACH Direct Payment. Funds must be available for withdrawals. If funds are not available at the time of ACH debit, other institution may charge insufficient fee and Texas Bay will charge a returned item fee for each transactions. Please see Texas Bay Fee Schedule for related fees.

Apply at any location

Safe Deposit Boxes

  • Your valuables deserve the protection and confidentiality provided by a safe deposit box at Texas Bay Credit Union (Fuqua branch only).
  • Four convenient and affordable sizes for legal documents, insurance policies, will, stocks and bonds, precious jewelry, coins, collectibles, other valuable items.
  • Annual Fee for Safe Deposit Boxes:

3 x 5″ – $15
3 x 10″ – $30
5 x 10″ – $45
10 x 10″ – $75

 

Same Day ACH

The National Automated Clearing House Association (NACHA) approved a rule that allows for Same Day ACH payment capability across the entire ACH network.  Under the rule, virtually all ACH transactions will be eligible for same-day processing and settlement in various phases through 2018.  Same Day ACH allows a financial institution to send an electronic payment to another account, whether at the same or different institution, to be received and credited or debited on the same business day.  If a payment is made or a bill is paid electronically, it may clear the account the same day it was paid.  Same day debit phase is scheduled for September 15, 2017. All other ACH transactions will be processed as they have been in the past unless processed according to the Same Day ACH requirements.

The National Automated Clearing House Association (NACHA) approved a rule on May 19, 2015, that allows for Same Day ACH payment capability across the entire ACH network.  Under the rule, virtually all ACH transactions will be eligible for same-day processing and settlement in various phases through 2018.

What is Same Day ACH?

  • Same Day ACH allows a financial institution to send an electronic payment to another account, whether at the same or different institution, to be received and credited to the receivers account on the same business day.  All other ACH transactions will be processed as they have been in the past unless processed according to the Same Day ACH requirements.
  • While all participating ACH financial institutions are required to receive and process incoming same-day ACH items for eligible receiving accounts, the Rule does not require financial institutions to originate same-day ACH transactions.  Texas Bay Credit Union will not be originating same-day payments at this time.
  • International ACH Transactions (IAT), Automated Enrollment Entries (ENRs) and any other ACH credit transactions over $25,000 are ineligible for same-day ACH.

How will Same Day ACH work?

Phase 1 was implemented in September 2016 and Phase 2 of Same Day ACH is scheduled for September 15, 2017.  Additional details below are provided for your reference:

  • ACH credits and debits are eligible for same day origination and settlement.
  • If Texas Bay receives the payment within one of the applicable Same Day ACH distribution windows, your credits and debits are processed and posted same-day.  Texas Bay’s processing times are outlined below:
    • AM Processing Window:  9am – 12pm
    • PM Processing Window:  3pm – 5pm
  • On the incoming side, your trading partners and vendors can send you ACH credits and debits same-day.  Your account will receive credits and will be adjusted for debits by the end of your financial institution’s processing day.

NOTE:

Posting of funds to your account from Same Day ACH payments is solely dependent on the originating financial institution including the payment in one of the Same Day ACH payment delivery windows listed above.  If the ACH payment is not received in one of the available same-day processing delivery windows outlined above, Texas Bay will post the ACH payment during the next available delivery window and/or when received, whichever comes first.