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Friday, October 29, 2010

Leagues Asked To Set Up Direct Deposits
By admin @ 5:33 PM :: 1211 Views :: 0 Comments ::

:: EFCL News, Resources

All of the federation’s 154 member community leagues have been asked to make arrangements with their bank to allow direct deposits from the EFCL.

The request was formalized at the federation’s Oct. 25 regular general meeting, where it was recognized that electronic banking arrangements would not only speed up financial transactions but also reduce their cost.

This situation has become an increasingly important issue, now that the EFCL is selling community league memberships online. As many leagues do not have a paypal account, community league registrants send their money to the EFCL’s paypal account. These funds must then be forwarded, cheque by cheque, to each of the leagues.

To date, the Federation has been mailing all of these cheques to each league. This has become a cumbersome and time consuming process, given the increased number of cheques that have to be written. The EFCL is also responsible for the cost of the cheques and postage.

In addition, the federation has run into problems with stale-dated cheques, when the cheques are not cashed within six months. Various factors play into this, including the fact that the cheque isn’t always sent to the current league treasurer, when the names in the EFCL’s data base get out of date.

FORM TO BE INCLUDED WITH VOID CHEQUE - download here