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Jewett City Savings Bank joins U.S. Treasury Department to facilitate direct deposit of S.S. checks

Safeguard against fraud and identity theft

Jewett City Savings Bank has joined the Go Direct campaign sponsored by the U.S. Department of the Treasury and the Federal Reserve Banks, to help  enior citizens protect their monthly Social Security payments from financial crime.

Go Direct urges seniors, and others receiving federal benefit payments, to switch from paper checks to direct deposit.

“Direct deposit is safer, easier and more convenient than paper checks,” says Kevin Merchant, president and CEO of Jewett City Savings Bank, “and it gives seniors more control over their money.”

Merchant added that direct deposit eliminates the risk of forged checks and helps safeguard against identity theft.

“Last year alone, almost 57,000 checks issued by the U.S. Department of the Treasury were forged, totaling more than $54 million,” he said. “Although paper checks make up only 20 percent of the total number of Social Security payments, they account for more than 90 percent of reported problems.”

The Go Direct campaign makes switching to direct deposit easy with a toll-free enrollment number, (800) 333-1795 and web site, www.GoDirect.org. Switching to direct deposit is free and takes only a few minutes.

The bank’s customer service representatives will be happy to answer individual questions about direct deposit of Social Security and other payments into a Jewett City Savings Bank account, Merchant said.