15 August 2014 Military Pay

August is looking like a nice, uncomplicated pay month (due to the Labor Day holiday on 1 September 2014.)  Three Fridays, each two weeks apart, just like everyone likes it.  The next regular, active duty military payday is Friday, 15 August 2014.  As you know, different banks and credit unions handle their deposits in different ways, and many offer early deposit as incentive to use their company.  So, what can you expect for this payday?

Friday. 15 August 2014

Always remember, if your bank does not offer early direct deposit, then your pay will arrive sometime on the actual payday.  Also keep in mind that if your bank does not guarantee early direct deposit, then you should pretend that it won’t be there until the actual payday to ensure that you don’t find yourself stuck.

Customers who bank with Navy Federal Credit Union and have a checking account that is NOT an Active Duty Checking account will see their pay deposits pending on Thursday, 14 August 2014, to be posted overnight and available for use on the morning of 15 August 2014.

Thursday, 14 August 2014

Many banks and credit unions, including both  USAA and Pacific Marine Credit Union (PMCU), offer pay deposits ONE BUSINESS DAY EARLY. For this payday, that would be Thursday, 14 August 2014.

Navy Federal Credit Union customers who use an Active Duty Checking account will see that pay pending on Wednesday, 13 August 2014, to be posted overnight and available for use on Thursday,14 August  2014.

Wednesday, 13 August 2014

Service Credit Union offers to deposit military pay “up to two business days” early, but this is not guaranteed and it is always pending the receipt of pay information from the Defense Finance and Accounting Service.  While it is nice that Service Credit Union offers to deposit money so early, some people find it hard to budget when they can’t be sure.  Assume that your pay will be there on the 15th, and you’ll be good to go.


About the Author

Kate Horrell
Kate Horrell is a military financial coach, mom of four teens, and Navy spouse. She has a background in taxes and mortgage banking, and a trove of experience helping other military families with their money. Follow her on twitter @realKateHorrell.