Q.
What is payroll deduction?
A. Payroll deduction is having only a portion of your pay
automatically deposited into your account(s) at the credit union.
Q.
What is Net Pay?
Net Pay is having your whole pay automatically deposited into your account(s) at
the credit union.
Q.
Can I have my payroll deposited into more than one account?
Absolutely. You can designate your distribution however you
want. For example, you may want to have a portion deposited into your checking,
a portion deposited into your savings, a portion deposited into your children's
accounts, etc. You can even make your loan payments through payroll deduction or
net pay. You can change your distribution at any time by calling our office.
Q.
When are my funds deposited into my account(s)?
Your funds will normally be deposited on your pay day. For
example, if you get paid every Friday, then your funds will be deposited into
your account(s) every Friday. Please note that Holidays are exceptions. If the
pay date is a holiday and the deposit is received prior to the holiday, the
funds may be deposited early based on the effective date of the deposit.
Q.
How do I sign up for Payroll Deduction or Net Pay?
Contact your employer first to make sure that they offer this
service. You may need to fill out paperwork through your company. You may need
to supply your employer with the following information:
• Riverfront's routing (ABA) number: 231385536 and
• Your six digit account number
When you have completed the necessary paperwork with your employer, you will
need to contact us to complete a payroll card. This payroll card will designate
how you would like your funds distributed when your payroll is received by
Riverfront.
Q.
How do I get a payroll card?
Contact our office and we will be happy to send one to you.
Q.
How do I change the amount of my payroll deduction?
Contact your employer first. You may need to fill out paperwork
through your company. Then contact us with any changes in deductions.
Q.
How long does it take for my payroll deduction or net pay to begin?
The time frame depends on your employer and how long it takes
them to set up your deduction. Generally it takes approximately two weeks to
initiate payroll deduction or net pay. If you find that your payroll deduction
or net pay has not begun after the two week time period, contact your employer
to verify that they have the proper information to begin your deduction.
