In a recent correspondence to its customers, FirstBank indicated that effective June 27, 2019, the Passbook Savings Account would be discontinued but the bank would allow automatic transactions under the current account numbers until Aug. 31.
Unfortunately, during the processing of Government Employees’ Retirement System’s (GERS) annuity payroll, a number of the retirees were adversely impacted because they either:
1) did not take action on the letter, or
2) took action but the bank rejected the direct deposit payment for the June 28 payroll in advance of the Aug. 31 deadline date as stated in the letter.
In an effort to avoid further issues, GERS manually stopped the direct deposits of the 146 retirees. One-hundred-sixty-nine (St. Thomas-St. John) and 77 (St. Croix) affected and changed the addresses to “in care of GERS” for the current July 15, 2019 payroll. This action was taken to prevent any additional checks from being rejected until the issue is resolved.
Respective members may contact the GERS offices at 776-7703 or 718-5480 to either retrieve their check or to verify their address to have it mailed to them.
Note that there were also several First Bank rejections in the St. Croix district for the June 28 payroll that must be processed manually. The GERS staff is committed to addressing these issues as quickly as possible.