Get paid faster with Early Direct Deposit

Set up direct deposit into your Oregon State Credit Union account and get your money faster* with Early Direct Deposit.

All direct deposits, including payroll, are now processed by Oregon State Credit Union when received, making them available to members early. It’s the fastest way to access your paycheck, Social Security check, tax refund, government benefits or any direct deposit.

Ask your employer or benefits provider to direct deposit your check into your Oregon State Credit Union checking or savings account today.

Everything you need to know about Early Direct Deposit

1. What is Early Direct Deposit?

When your employer, the Social Security office, the IRS or other benefits provider makes an Electronic Funds Transfer to your account, they begin by submitting files to the Federal Reserve to let them know how much money to deposit. The Federal Reserve tells your financial institution how much and when to release the money. Traditionally, financial institutions have held onto the funds until the date specified by whoever is initiating the transfer.

With Early Direct Deposit, we skip the hold period and make those funds available to you immediately. This means you get your money sooner.

2. Is there a fee to use Early Direct Deposit?

There is no fee for Early Direct Deposit. It’s one of the benefits of being a member of Oregon State Credit Union.

3. If I already have direct deposit, do I need to do anything?

If you already have direct deposit set up, you will automatically begin enjoying faster access to your money.

4. How do I set up Early Direct Deposit?

If you have already set up direct deposit into your credit union account, you don’t need to do anything. If you have not set up direct deposit, ask your employer or benefits provider to direct deposit your check into your Oregon State Credit Union account.

5. What type of deposits will post early?

Any incoming credit Electronic Funds Transfers (EFTs) deposits. (Payroll, Social Security payments, tax refunds, benefits checks, etc.)

6. Will I see my deposit pending in my account?

Rarely. Deposits may show as pending for up to 10 minutes before posting. (All debits will still show as pending.)

7. What if my deposit never shows up?

If you were expecting a direct deposit that never arrived, contact the business or benefits provider that originated the deposit and verify the following:

• The date the deposit was initiated. You can get that date from the company or benefits provider that initiated the deposit; e.g. your employer, the Social Security office, the IRS or other.
• Our routing number. Our routing number is 323274270.
• Your Oregon State Credit Union account number, which can be found at the bottom of your checks or on the membership card you received when you joined the credit union.

8. What happens if my payday falls on the weekend or a holiday?

When you get paid will depend on when your employer or benefits provider sends the deposit file. We will process the direct deposit and make your funds available to you on the first business day we receive the file (federal holidays excluded).

9. Can direct deposit go into a savings account?

Yes. Your direct deposits can go into a checking or savings account.

* Early Direct Deposit availability depends on the timing of the payor’s payment instructions, and fraud prevention restrictions may apply. Therefore, availability or timing of Early Direct Deposit may vary from pay period to pay period. Make sure your name and social security number, and the credit union routing and account number on file with your employer or benefits provider matches what’s on your Oregon State Credit Union account. We will not be able to deposit your payment if we are not able to match recipients.