Do you have questions about Direct Deposit? Here are some handy definitions that may help.

Automated Clearing House (ACH)

A national network operated by both the Federal Reserve Bank and private sector processors. This network processes electronic transfers between originating and receiving financial institutions.

Originating Depository Financial Institution (ODFI)

The ODFI is normally either your payroll company or the financial institution with which your company has its payroll account.

Payroll Deduction Form

A form that members use to (a) authorize direct deposit of their paycheck and (b) designate where they want their payroll deposited. By using the form, for example, a member could direct SEFCU to deposit $100.00 to Mint Savings, $10.00 to a Holiday Club account, $150.00 to repay an auto loan, and the balance to their free checking account.

Prenote

The employer’s "dry run" process for testing its direct deposit system. During this process, direct deposit entries with zero dollar amounts (the “prenotes”) are sent through the network 10 days ahead of the first direct deposit. Your ODFI will notify you if any information needs to be corrected.

Receiving Depository Financial Institution (RDFI)

The employee’s credit union or other financial institution.

Routing and Transit Number

The number that identifies financial institutions for electronic transfers. SEFCU's routing and transit number is 221373383.