Coastal has partnered with Go Direct, a national campaign sponsored by the U.S. Department of the Treasury and the Federal Reserve Bank, to encourage people who receive Social Security and Supplemental Security Income (SSI) to use direct deposit. The national campaign kicked off on Sept. 27 with commemorative events in Washington, D.C. and other major cities around the nation.

For people who receive Social Security payments, direct deposit is simply the best way to get their payments because:

• It's safer. Direct deposit protects people from fraud and identity theft. In fact, no direct deposit payment has ever been lost or stolen.
• It's easier. Payments go straight into your account, so you don't have to go to the bank or credit union to deposit a check.
• It gives you more control. Direct deposit is completely predictable -- you know you'll have your money at the same time each month. Also, you can access your money from virtually anywhere -- so you have it when you need it most.

Direct deposit is a key weapon in minimizing check fraud losses. The most recent ABA Deposit Account Fraud Survey Report estimated that attempted check fraud at banks totaled $5.5 billion in 2003 with $677 million in actual dollar losses for banks.

Unfortunately, recent analysis by the Treasury shows that only 75 percent of new Social Security recipients, the largest group to receive federal benefit payments, are signing up for direct deposit. This is down sharply from a high of 90 percent in the late 1990s. Unless the rate of direct deposit use increases, the costs associated with issuing federal benefit checks will
balloon when baby boomers start retiring in 2008.

Coastal is pleased to join numerous other organizations around the country in partnering with Go Direct. Having your checks direct deposited into your Coastal account is FREE.

Receive your Social Security checks faster and safer. Sign up for Direct Deposit online! »Or call Go Direct at 1-800-333-1795.

Coastal's ABA/Routing number is 253175494.