BOARD VOTES TO ACCEPT DIRECT DEPOSIT
On August 11, the Credit Union's Board of Directors voted to accept direct deposit, also known as electronic funds transfer, beginning
in the year 2000. In the recent months, many members have been concerned about the Debt
Collection Act of 1996, which
required Federal payments, including Social Security benefits, to be made electronically beginning January 2, 1999. This issue
was brought to the Board's immediate attention, and after much research and discussion, it was decided that in order to better
serve its members, the Credit Union will take the necessary actions to accept electronic funds transfer. We will update you with
more information as the direct deposit installation progresses. For more information about the 1996 Act and the Treasury
Department's electronic funds transfer policy, visit www.fms.treas.gov/eft.
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2004 ANNUAL GENERAL
The 2004 Annual General Membership Meeting is scheduled to be on
Sunday, January 11, 2004, at 12 noon, at the Golden Dragon
Restaurant in the San Francisco Chinatown. All members are
invited to participate.
2004 CONVENTION IN
The 2004 Convention for the six Lee Federal Credit Unions will be
held in Washington, D. C. on Friday, August 13, 2004 and Saturday,
August 14, 2004. All members are encouraged to participate.
Please contact the Credit Union office for detail.
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