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San Diego County CU Ready for New Social Security Deposits

Feds ending paper payments of Social Security, other benefits on March 1, California credit union notes.

By Marc Rapport | Updated on February 20, 2013

The $5.8 billion, 242,000-member San Diego County Credit Union said it is preparing for a new influx of direct deposit business as federal benefits by paper check comes to an end.

The Treasury Department has been in the process of phasing out paper payments and requiring electronic deposits of Social Security checks and other federal benefits, and the switch now must be made by March 1, SDCCU noted.

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