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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ANNOUNCEMENTS

2004 ANNUAL GENERAL MEMBERSHIP MEETING

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 WASHINGTON, D.C.

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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