Direct Deposit/Loan Payments

Direct Deposit

LMEFCU accepts direct deposits of all types; including social security, federal recurring payments, and payroll checks. Inquire with your company payroll department regarding the availability of direct deposit. There is a benefit to having direct deposit set up with the Credit Union.  Most regular personal and auto loans receive a 0.25% discount off the interest rate with direct deposit.  Also, the Credit Union offers periodically promotional loans throughout the year but you must have direct deposit coming to the Credit Union for at least six (6) months to qualify for the promotional loans.

Payroll Deduction

Payroll deduction makes saving easy and loan payments hassle free.

This service allows you to have a portion of your paycheck automatically deposited to your various credit union accounts or loans each payday making savings and paying your loans easier and worry free. Obtain a direct deposit form to submit to your payroll department to set up payroll coming to your credit union account to start the payroll deduction process.

An added benefit of payroll deduction is that you get a 0.25% of most personal loan interest rates.

Automatic Transfers

If you don't have direct deposit or payroll deduction, you can still set up an automatic transfer. 

Having your monthly loan payment transferred automatically from your Checking or Savings account to your loan eliminates the worry of late payments. Automatic Transfers can also be set up to help you save with our Travel and Christmas Clubs or to a family member’s account such a child or grandchild.

RISE (Loan Payments)

Use the link below to access the RISE portal (product of Corporate America Credit Union) to pay your loan payment using another financial institution.

Contact the Credit Union today to obtain a Direct Deposit form to take to your HR department to ease the process of setting up Direct Deposit with the Credit Union.