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For the past 7 years, the Postal Service™ has used two banks, Citi and U.S. Bank, for the clearing of payroll checks issued to those employees not receiving their pay via direct deposit. A Finance team recently conducted and completed a competitive process to select a vendor for our payroll check clearing, and the winning bank was J.P. Morgan. Beginning with the pay date of February 5, 2010, all payroll checks will clear through J.P. Morgan.
For those employees who receive a paper check, the only difference in salary payment is that the checks will be drawn on J.P. Morgan bank rather than Citi or U.S. Bank.
Employees who are interested in more information regarding direct deposit should contact their banks and may enroll in direct deposit by accessing www.liteblue.usps.gov or through PostalEASE by calling 877-477-3273, selecting option 1, and following the prompts.
— Corporate Treasury, Chief Financial Officer, 1-14-10
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