Understand End-of-Year Deposit Delays

| Announcements

Are you expecting a direct deposit to your account soon? Be aware that holiday closures and federal requirements for taxable income will impact our ability to process deposits. This will particularly affect Members who benefit from our early direct deposit perk. If you are used to receiving your first-of-month paycheck before the new year, here’s what you need to know:

  • Rest assured that your direct deposit will post as soon as possible. . Please do not call Member Services. This is required by federal tax law*, and our representatives cannot do anything to rush or change the situation. Instead, rely on Online Banking, the Mobile app, and Phone Banking to stay up to date on which transactions have posted to your account.
  • Understand that this timing is in compliance with federal law. To meet federal tax regulations, any 2025 earnings will not be available before January 1, 2025. This means direct deposits that would normally post to your account prior to the end of the month will instead be available on the morning of January 1, 2025. As a result, Members who typically receive early direct deposit for their first-of-month paycheck will not receive their paycheck early.
  • Be aware of holiday closures. Official holidays can mean a day off for every financial institution, including UFCU. Plan ahead and take care of your banking before the holiday festivities begin. Be sure to know when UFCU is closed for the holidays.

* UFCU does not provide tax or legal advice. For such guidance, please consult a tax and/or legal advisor.