Deposits FAQ

This is your guide to hassle-free deposits at Federated Employees Credit Union (FECU). Members have access to a wide range of in-person and self-service tools for depositing funds.  Contact us with questions and we’ll help you securely transfer funds into your savings and checking accounts or loans.

Direct Deposit

Direct deposit is an electronic transfer directly into your account. Instead of waiting for payroll checks, tax refunds, or other checks to arrive your funds are automatically received into your FECU account on the scheduled date. Direct deposit provides a more secure way to receive funds quickly because it reduces the risk of lost, stolen, or delayed checks.

Automatic Deposits

Electronic transfers to your designated accounts can be done on a regular weekly, bi-weekly, or monthly schedule. Creating recurring deposits into your accounts makes managing your finances simpler, more organized, and saves you time. Contact us to start making deposits without the need for paper checks, cash, or trips to make deposits in person. 

Mobile Deposit

Do you have a paper check? Take advantage of the Mobile Deposit feature in the Federated Employees CU mobile banking app. Use your device’s camera to upload a picture of the personal or corporate check for secure, easy, and fast access to deposits into your FECU accounts. Learn more about Mobile Deposit Capture FAQ or contact us for assistance. 

Split-Deposit

You are in control of how your money is deposited into different accounts. Split-Deposit not only simplifies your life but also ensures that your funds are consistently where you need them. For example, Federated Insurance employees can use UKG Payroll Deposits to send a percentage of payroll or a specific dollar amount directly to multiple savings and checking accounts. Contact us to get step-by-step directions, our routing number, and account information for sending payroll funds to your FECU accounts.

Loans on Payroll Deduction

As a perk of being a Federated Insurance employee with a loan at FECU, you can elect a portion of each paycheck to be transferred directly to one or multiple loans on payday. This feature can be especially helpful for budgeting and could increase your credit score because you are less likely to miss a payment. Contact us to start using payroll deductions for your current FECU loans. 

Other Deposits and Transfers

We also provide services for Wire Transfer, Text Banking Codes, Cashier’s Checks, nationwide ATM access, and Online Banking ACH for moving funds to and from another financial institution. All deposits are subject to the FECU’s Funds Availability Policy. Contact us by calling 507-455-5430, and we will provide you with the best options for securely transferring funds in a way that works for you.