Issue link: http://digital.copcomm.com/i/1325752
SAG-AFTRA Direct Deposit Initiative Hits Major Milestone: 1 Million Payments I n early October, SAG-AFTRA's initiative with payment-processing company Exactuals to provide direct deposit of members' residuals marked its 1 millionth deposit. By the end of November, there were almost 1.3 million payments, with $228 million deposited directly into members' bank accounts since it launched nationally on May 1, 2019. It was welcome news for many members who have had to cope with the shutdown of production due to the COVID-19 pandemic. For some performers, residuals have been a lifeline, allowing them to weather these unprecedented times, while having payments securely deposited. "Direct deposit of residuals has been a huge success for SAG-AFTRA and our members," said SAG-AFTRA President Gabrielle Carteris. "Ensuring consistent and rapid payment is a core function of the union, and direct deposit guarantees members get paid efficiently and securely, no matter where they are." SAG-AFTRA processes nearly 5 million residuals checks for 270,000 people per year and led the efforts to make direct deposit of residuals a reality. The union joined forces with respected payment-processing firm Exactuals to create a secure and stable method for members to easily receive their residual payments. Members can learn more and sign up here: sagaftra.org/directdepositsignup. businesses. Staying on top of your financial situation allows you to build a sustainable career. "We're not talking about quitting [acting], we're simply talking about maintaining stability while the industry returns," she said. "Again, I'm not suggesting we're passionate about this work, it's just about what keeps you solvent so that, with some flexibility, you can keep doing what you're here to do." Edoga acknowledges that this can be a difficult process, and that it can be easy to fall into the trap of feeling like a failure, but she cautions against judging yourself too harshly, as these unusual circumstances are beyond your control. THINE OWN SELF Since you will never be able to predict income with total certainty, it's all the more important you track your spending and monitor whether you are sticking to your budget. "[We must hold] ourselves accountable to, arguably, what is one of the fundamentally most important relationships that we have: our relationship with our money," Edoga said. "It's a balance of holding ourselves accountable while also being kind to ourselves … We have all done the best we can with the information that we have.