Q & A on Direct Deposit Promotions


Is there a function in GOLD that allows us to see who signed up for a Direct Deposit? We want to offer a promotion to new Direct Deposit sign ups but we are unsure how to track this.

When I talk about Direct Deposit, I’m referring to any payroll or government check that’s being deposited directly into someone’s account. We want to offer a promo for members that follow through with setup since they have to set it up through their business or the government and it’s not something we control.

I see other financial institutions doing promos for this, but we can’t figure out how they’re tracking them since the direct deposit is set up outside of our organization. Do you happen to know of any FIs that have done something like this before and how they’ve gone about tracking them? I realize that’s probably a long shot, but if there’s no way to ID them and pull them in the system I’m not sure where I should go.



Other CUs have your same challenge of needing to work with just CU*BASE data as the details of direct deposits are set up outside your organization.

There is no “type” or “category” coding system on ACHs that can tell us if they are specifically from a payroll, the government, a 3rd party ePayments platform, etc. This is not unique to us, it’s a situation all financial institutions work around. In CU*BASE however there is a coding system we apply to transaction processing that gives us enough to make some assumptions and begin to filter down to the transaction we’re interested in.

You can use the transaction codes to confirm it is an ACH (origin code = 11), directionality (deposit or withdrawal), and the company name of the originator of the transaction.

In my experience, credit unions vary in how they choose to define a “payroll depositor”. I can cover a few of the strategies I’ve seen or recommend, but the most important thing is that you set the definition however you feel comfortable and then stick to the same definition for the same purpose or promotion. Sticking to the same definitions for data mining means your different data pulls can be compared to each other on equal ground.

So, either one of these two scenarios can be useful depending on your analytical or service-based objective:

Scenario 1 – Any member with aggregate $1,000 or more in ACH deposits within the month
This only requires 1 month of history to review, but doesn’t guarantee that there’s a regular, recurring deposit in place. It is aggregate and would lump together multiple depositor sources – 2 part-time jobs and a government check for example. $1,000 seems to be a pretty common minimum amount if trying to pin down people sending most or all of their paychecks to their account with you. But, you can define that minimum at anything you want for your purposes.

Ex. Some people simply sell their promotion as saying that they need to to have ACH deposits of at least $250 (or whatever amount) within 1 month (2 months, 3 months…) of the account open-date or the promotion end-date, etc.

Scenario 2 – Any member with a repeating ACH from the same company name
This requires evaluating more than 1 month of history to catch the people who only get their direct deposit 1x/month. It also will falsely include the small-amount repeating ACHs for people who regularly use Venmo for example, unless you also set a minimum amount on the transactions to evaluate.

Does anything like this help for your projects?

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