Representative Payee accounts can be opened at any First Community location. These types of accounts are opened when a representative payee has been named by the Social Security Administration to receive and manage benefit payments for a recipient of Social Security or supplemental security income who is unable to conduct their own financial transactions. In order to remain in compliance with Federal law, there are certain documents and pieces of information the branch representative will need in order to open the account.
To ensure the account is correctly opened and avoid inconvenience to you, please bring the following:
- The letter from the Social Security Administration naming the Representative Payee
- Valid ID for the recipient, and the Representative Payee
- In the event our identity verification software cannot verify the recipient's social security number, we will need the recipient's social security card. We recommend bringing the card to avoid making multiple trips.
There are a some stipulations for this type of account:
- Either the recipient or the Representative Payee must qualify for membership to the credit union. For a list of ways to qualify, please click here.
- This type account may have a checking account with a debit card if requested but is not eligible for our Overdraft Privilege.
- This type of account can ONLY receive Social Security funds.