Switching from Payroll Deduction to Direct Deposit Take 2

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Switching from Payroll Deduction to Direct Deposit:

Switching from Payroll Deduction to Direct Deposit Presented by: STE Credit Union July 25, 2012

PowerPoint Presentation:

If you are a State of Ohio Employee, the way you have funds deposited from your paycheck to your STE Account will soon be changing. The Human Resources Division of DAS recently announced that credit union payroll deductions for all State of Ohio employees will be discontinued. You can still have a portion of your paycheck deposited to your STE Account by switching from Payroll Deduction to Direct Deposit.

Advantages of Switching to Direct Deposit:

Advantages of Switching to Direct Deposit Since Direct Deposit is set up through myOhio’s OAKS Self-Service, you have more control over your deposit. You can change the amount being deposited to your STE account at any time, on your own. STE Credit Union processes Direct Deposits much sooner than Payroll Deductions, so you should receive your deposit faster.

Steps to Complete:

Steps to Complete Set up your new Direct Deposit online by visiting http://myOhio.gov . Cancel your Payroll Deduction through your Payroll Office. Steps 1 and 2 should be done the same day whenever possible, and at least within the same pay period. Let STE know you’ve made the switch!

Who Needs to Make the Change?:

Who Needs to Make the Change? Members who ONLY have a payroll deduction should complete steps 1-3. Members who have BOTH Payroll Deduction and a portion of their Direct Deposit coming to STE will need to complete steps 1-3. Members who have BOTH Payroll Deduction and their entire Direct Deposit coming to STE will only need to complete steps 2 and 3. Members who ONLY have a Direct Deposit coming to STE do not need to make any changes.

Step 1: Setting Up your New Direct Deposit:

Step 1: Setting Up your New Direct Deposit Visit http://myOhio.gov . Enter your User ID and Password and click “sign in.”

Step 1: Setting Up your New Direct Deposit:

Step 1: Setting Up your New Direct Deposit Scroll over the Time and Money tab. Select the second option, “Direct Deposit”

Step 1: Setting Up your New Direct Deposit:

Step 1: Setting Up your New Direct Deposit If you do not have an existing Direct Deposit coming to STE, select the “Add Account” Button to add your STE deposit. If you have an existing Direct Deposit coming to STE in addition to your payroll deduction, you may click the “Edit” button to change the amount of your deposit. ( NOTE: This is not necessary if the Deposit Type for your STE Deposit is listed as “Balance.”)

Step 1: Setting Up your New Direct Deposit:

Step 1: Setting Up your New Direct Deposit If “adding” an account… Enter the information for your STE Account and the amount you would like to have deposited. If “editing” an account… Your account information should be prefilled. In most cases, all you will need to update is the amount/percent field. STE’s Routing Number is 244077909. Your account number should ONLY enter your 2-6 digit member number. You should NOT enter any suffixes.

Step 2: Canceling your Payroll Deduction:

Step 2: Canceling your Payroll Deduction Complete an, “Authorization for Payroll Deduction” card. Be sure to mark the “Cancel” box, as indicated below. Return the card to your payroll office. This should be done at the same time you are setting up your new direct deposit. X Enter your name and Employee Id Number. CRUE28 Don’t forget to sign!

Step 3: Let STE Know You’ve Made the Switch:

Step 3: Let STE Know You’ve Made the Switch Take any o the steps below to let STE know you’ve made the change and how they would like their money transferred between any loans or accounts you may have with us. (Note—Transfers set up from an existing Payroll Deduction DO NOT automatically occur on new Direct Deposits.) Download the “Direct Deposit Distribution” form located on our Payroll Deduction webpage, http://www.stecu.net/payroll_deduction . This form should be returned to our office. Email us at [email protected] . Call us at 614.466.4988 and select option 5 and speak to one of our representatives.

Resource for STE Members :

Resource for STE Members If you’d like more information, including a printable Direct Deposit Job Aid and Direct Deposit Distribution form, visit the Payroll Deduction page of our website, http://www.stecu.net/payroll_deduction .