ROCHESTER — The Summit Federal Credit Union (The Summit) says its newest service is called EarlyPay. It allows Summit members — who have direct deposit into a checking account — to have their paychecks available up to one day earlier than their regular payday. The credit union cites a 2022 survey by the American Payroll […]
ROCHESTER — The Summit Federal Credit Union (The Summit) says its newest service is called EarlyPay.
It allows Summit members — who have direct deposit into a checking account — to have their paychecks available up to one day earlier than their regular payday.
The credit union cites a 2022 survey by the American Payroll Association as indicating 93 percent of U.S. workers get their paycheck via direct deposit, and more than 99 percent of Social Security recipients receive their funds through direct deposit as well.
With EarlyPay, all members of the Summit who currently have direct deposit into their checking accounts can receive their paychecks, Social Security, tax returns, and other benefits up to one day early. This service is automatic, meaning members don’t have to sign up and no fees to pay to get started, per the Dec. 10 announcement.
“We are continuously developing products and services that help make the financial lives of our members easier,” Twanda Christensen, VP of marketing and community engagement, said in the credit union’s announcement. “Early access to direct deposits is one of the features that our members have been requesting and, as their trusted financial partner, we are thrilled to now be able to offer this safe and convenient service.”
About The Summit
Founded in 1941, The Summit Federal Credit Union is a nonprofit, member-owned, full-service financial cooperative.
With more than $1.3 billion in assets, The Summit has more than 230 employees and provides financial products and services to more than 93,000 active members in Central New York, the Finger Lakes, and Western New York.
