Protect yourself -- use direct deposit

Most of us think about fitness in terms of health and well-being. But have you ever thought about your financial fitness? For senior citizens, people with disabilities and others who receive federal benefit payments by paper check, signing up for direct deposit is one easy way to take charge of your financial future.

Direct deposit is safer, easier and more convenient than paper checks, and can help safeguard against identity theft. Even so, Illinois senior citizens and others still rely on nearly 370,000 Social Security and Supplemental Security Income (SSI) paper check payments each month. They may not realize that paper checks can be vulnerable to check fraud and forgery. In fiscal year 2007, nearly 60,000 paper checks issued by the U.S. Department of the Treasury - worth about $56 million - were fraudulently endorsed.

During April's Financial Literacy Month and beyond, my office will continue to promote concrete financial tools Illinois residents can use to combat fraud and identity theft. If you're still relying on paper checks for your Social Security payment, sign up for direct deposit through the Go Direct toll-free helpline at (800) 333-1795, or online at www.GoDirect.org. It's free and takes only a few minutes.

Alexi Giannoulias

Illinois State Treasurer