Electronic Transactions (ACH)

ACH is the acronym for automated clearinghouse. It is the Federal Reserve’s electronic mechanism that permits Greater Watertown FCU  to allow its members to take advantage of direct deposits (ACH credits) and electronic payments (ACH debits). Using direct deposit enables members to have all or part of their paychecks deposited directly to the credit union. When you elect to use direct deposit, at GWFCU you can also further direct your deposit to any number of accounts including shares, share drafts, money markets, Roth IRA’s, Christmas Clubs, etc. Direct deposit has become the most convenient and safest method for receiving tax refunds. Electronic payments allow members to authorize the automatic distribution of their funds to satisfy their monthly expenses. Most commonly, members use electronic payments, also known as ACH debits, for payment of mortgage, telephone, utilities and insurance premiums. Both ACH debits and credits are available at GWFCU. To begin your ACH transactions contact us at 860-945-0611.