Electronic Federal Benefits Change

Technology is always pushing us forward to the next great thing.

The U.S. Treasury has been slowly advancing to become a completely electronic benefit payments system. So starting May 1st, 2011 any new enrollees for social security or any other federal benefit payment will receive their benefit payments by direct deposit or Direct Express Debit MasterCard. People currently getting their benefit checks will need to make the switch to electronic payments by March 1st, 2013.

With this great feature of electronic payments, you'll have easy access to your funds and no more waiting for the check to come in the mail. SouthPoint is here to help you in making the switch or just getting started please contact any of our Financial Service Representatives.

Patricia Gramentz and Alice Walter, Account Operations Specialists