Direct deposit is safe and convenient as funds are automatically deposited to your account on the scheduled pay date via electronic funds transfer. Name and Address of Financial Institution: Nassau Financial Federal Credit Union.What Is This Form For? With direct deposit, your retirement benefit payment is deposited directly into your bank account on the last business day of each month. It's quick and safe. Deposit, you must complete a new form. 4. How do I sign up for direct deposit? Indicate whether the account is checking or savings. Complete an EFT Authorization Form with the new banking information. The form must be signed with an original signature and title must be indicated. 2.