This Authorization Agreement for Electronic Funds Transfer form is intended for
use by federally insured credit unions, not for NCUA vendors or the general public.
Public Law 104-134 (the Debt Collection Improvement Act of 1996) requires that
all payments from federal agencies, with the
exception of Internal Revenue Service tax refunds,
must be made by electronic funds transfer
(EFT) effective January 1, 1999. NCUA advised
credit unions of this new requirement in NCUA Letter to Credit Unions 97-CU-7 and began collecting information.
This
form provides credit unions with a convenient means of providing
NCUA with the information needed to make payments to credit
unions electronically. The completed form can be either
mailed or faxed to NCUA using the information provided on
the bottom of the form.
Direct
questions/comments to the Division of Share Insurance
at NCUSIF@ncua.gov or hotline 877-452-1463.
