Direct Deposit Coalition Formed; Logo and Web Site Unveiled

New Policy Encourages Compliance with ACH Rules

Lower Electronic Fees and New Price Structures in 1999

New ACH Service Supplements FedEDI Software

Treasury Approves Final EFT 99 Rule

ReserveNotes

Louisville Bids Farewell to
Ron Hadorn; Welcomes Ralph Ising

FedEDI Software Now Available

Direct Deposit Coalition Formed
Logo and Web Site Unveiled

The Federal Reserve has recently teamed up with NACHA, the ACH operators and regional ACH associations and hired an international public relations firm in a multi-year effort to educate the public and media on the benefits of electronic payments. The collaboration, called the Direct Deposit Coalition, began its efforts this past fall, developing materials for National Direct Deposit Week and educating employers on the benefits of direct deposit.

To strengthen the product's identity and unify its members' national marketing efforts, the coalition has adopted a standard direct deposit logo, which will be phased in gradually. Financial institutions are encouraged to adopt the logo as well and begin using it on newly created direct deposit materials. Electronic versions of this logo are available by calling Donna Schwartze at (314) 436-6565; soon, you will receive a camera-ready version, along with a standards manual on how to use the logo.

The Direct Deposit Coalition also has introduced a new, general education web site, located at www.directdeposit.org . Here, you can find tips for promoting direct deposit, working with companies and making direct deposit more profitable for your financial institution. The site will also make the logo and marketing materials available for download.

In 1999, the coalition will be hosting national press conferences and working with the national media to promote the benefits of direct deposit to employers and consumers. Later efforts will expand into direct payment as well.