Academic Federal Credit Union Payroll deductions

Notice for Employees with Academic Federal Credit Union Payroll deductions

Effective with the 07/31/2012 payroll cycle the University is changing the way funds are transferred to the Academic Federal Credit Union. Currently, for those employees who elected to transfer a portion of their semi-monthly salary to Academic Federal Credit Union, such transfer appears as a deduction on their paystubs. Going forward, rather than payroll deductions, those transfers will be made as a direct deposit to a second bank. Accordingly, paystubs for these employees will show a higher net pay, with the direct deposit of said net amount split between a main bank account and the Credit Union.

Please note that this is just a University process change; the amounts deposited to employees main bank account and to the Credit Union will remain the same.

If you have any questions, please contact the Payroll Office at:

Phone:     914-923-2898  or visit us on the Web at:  www.pace.edu >Finance and Planning > Payroll
 

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