Definitions for "Payroll Deduction"
In insurance, an arrangement whereby premiums on employees' insurance are deducted directly from the workers' wages and forwarded to the insurance company by the employer. Also used to indicate similar handling of employee contributions to an employee benefit plan.
This popular convenience service allows members to have savings deposits and loan payments made from their paychecks automatically. Members can payroll deduct to Regular Shares, Holiday Club, Checking, IRA and Money Market accounts, and can make consumer and home equity loan payments as well. Members can even designate a portion of their payroll deduction to be deposited in a family member's account. Transfers from the member's account to the family member's account are made on the first of every month. This FREE service allows members to accomplish one of the most important principles of good money management.
A convenient method of purchasing insurance and other benefits through work by having premiums deducted by the employer and forwarded to the insurance company.
Keywords:  efficient, simple, care, way, support
a simple and efficient way to support the organization you care about