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CRA Direct Deposit Signup Available at Osoyoos Credit Union

CRA Direct Deposit Signup Available at Osoyoos Credit Union

The CRA has partnered with eligible financial institutions to make receiving the Canadian Emergency Response Benefit easier for you. We’re one of them! So, all our members are able to quickly and easily sign up to receive payments straight into your OCU account via secure direct deposits.

Before we outline the process, we want to confirm that our members can’t apply for the benefits via our online portal. You can only sign up to receive benefits you’ve been assessed as eligible to receive.

How to Sign Up

Here are the simple steps you need to take to sign up:

Confirm your eligibility

You must be a Canadian taxpayer and you must be an individual to sign up.

The CRA has confirmed that the Canada Emergency Response Benefit only supports SIN-based payouts. So, small businesses are not eligible to receive loan payments in this fashion.

Small businesses with a Business Number will be able to update their Direct Deposit information through their business portal. Payments Canada will circulate the CRA’s link to its ‘My Business’ account where businesses can sign up.

And, you must have already been assessed as being eligible for the CERB payments by the CRA. You can find more information about applying for the CERB payments here.

Sign Up Using OCU’s Online Services

To sign up for CRA Direct Deposits through Member Direct simply login to your OCU online banking page and:

  1. Select “Account Services” from the Green Menu Bar
  2. Select “Set Up CRA Direct Deposit”
  3. Review the “Payment Information” Screen and Click “Next”
  4. On the Authorization Page: Select the Account you want the funds deposited to, Review the Privacy Statement, click the “I Authorize” button and click “Next”
  5. Review the Confirmation Page and if the information displayed is correct, click the “Submit” button to complete the process. Print the Confirmation page if you wish to keep a printed copy.

That’s it! You’re all set up.

CRA Payments Available Via Direct Deposit

You can sign up to receive the following payments via direct deposit into your OCU account:

  • The new Canada Emergency Response Benefit;
  • Income tax refund;
  • Canada child benefit;
  • Goods and services tax/harmonized sales tax (GST/HST) credit;
  • Canada workers benefit; and
  • Related provincial and territorial payments.

You can read more about eligibility on the CRA website.

Direct Deposits are Safe and Secure

Receiving your CRA payments via direct deposit is safe, secure, and speedy.

Direct deposit is a secure electronic transfer of funds deposited directly into your account at Osoyoos Credit Union. Direct deposit replaces the need to issue payments by paper cheque so your payments will always be timely – instead of being impacted by things like weather and any logistical issues with the post.

Consent and Privacy

We have signed an extensive Terms of Use Agreement with the CRA which obliges us to use consent and privacy statements with any members who enroll in the CRA direct deposit. By signing these consent and privacy statements you will acknowledge and agree that:

  • To facilitate your direct deposit enrolment with the CRA:
    • The CRA requires your name, bank account information, date of birth and social insurance number (SIN).
    • OCU will provide to the CRA your name and bank account information as set out above, as well as the date of birth and SIN that we have on file for you.
    • Once the CRA has completed your direct deposit enrolment, the Receiver General will deposit any amounts to be paid to you by the CRA into your OCU account.

The Government of Canada considers privacy and security of utmost importance in the issuance of payments. Any information you provide to the Government of Canada when you enroll for direct deposit is protected under the Government of Canada Privacy Act and as described in Receiver General Payments (Personal Information Bank PWGSC PCU 712).

Account Security

Remember, we’ll never ask for your account password or your personal information over the phone or via email. And be sure to report any suspicious communications about your account. Better to be safe than sorry!

Confirming You’ve Received Your Payment

You can verify that a payment has been received by checking your banking statement or the transaction list available via OCU’s online services. Your payment amount will be deposited directly into the account you nominated when you signed up for the CRA direct deposit.

You can also confirm that the payment was sent by the CRA by logging into CRA’s My Account.

OCU is here to help

We’re doing everything we can to assist our members during this trying period. If you’re stressed or struggling with your payments, get in touch.

We’re working hard to come up with tailored solutions that work for everyone. Because together we’re better.