As one of Austin’s largest employers, the City of Austin is setting a strong example about how employers can empower their workers: over 350 City of Austin employees have switched to using direct deposit to deposit their paychecks thanks to Bank On Central Texas, a collaboration between United Way Capital Area and PeopleFund. This move will save the City more than $7200 in fees annually and save each employee who switched nearly $150 every year.
“We’re supporting employers to help them make the best financial decisions for their employees,” said Jill Shah, Director, Financial Stability at UWCA. “Using direct deposit is an easy way for both parties to get more out of their dollars.”
The City allowed UWCA’s Financial Stability Team to conduct 10 on-site presentations from March to August to provide financial education and explain the benefit of direct deposit.
The program focused on departments with low rates of direct deposit and targeted employees receiving manual checks. The team visited Parks and Recreation, Austin Energy, Austin Water Utility and Solid Waste Services.
In the end, the program results in nearly 94 percent of City employees participating in direct deposit. Saving these dollars means our city has even more to invest back into our community.