1 July 2015 Military Pay

It’s still quite a while until the next regular, active duty military payday, but the questions are coming in.  The next payday for military folks is Wednesday, 1 July 2015.  For those of you who get paid a little early, that can make for a long-ish stretch between paychecks – definitely more than two weeks.  When will you actually get paid?  As always, that depends on your bank or credit union.  And, if you use Navy Federal Credit Union, it also depends on your account type.

If you don’t know that your financial institution offers early direct deposit as a benefit to their customers, you should assume that you will be paid on Wednesday, 1 July 2015.

One Business Day Early

Amongst the different early direct deposit offers that are available, the most common is that active duty military pay will be deposited “one business day” prior to the actual payday.  USAA and PMCU are two companies that offer this, as well as others.  For the upcoming payday, one business day early will be Tuesday, 30 June 2015.

Service Credit Union

Service Credit Union will deposit active duty military pay two business days prior to the actual payday, pending the receipt of deposit information from the Defense Finance and Accounting Service (DFAS.)  For the upcoming payday, two business days early will be Monday, 29 June 2015.

In the past, Service Credit Union did not guarantee that pay would be deposited early.  While they have changed their policy slightly, I still haven’t seen a guarantee listed.

Navy Federal Credit Union

If you use Navy Federal Credit Union for your military pay deposit, the date you should expect your deposit depends on the account type into which the pay is deposited.

Navy Federal members who use an Active Duty checking account should expect to have their pay available to use on the morning of Tuesday, 30 June 2015.  It will sometimes show as pending, in the column on the right hand side of the online account access screen, the day (or even two) prior to posting.

Navy Federal members who use any other type of account should expect to have their pay available to use on the morning of Wednesday, 1 July 2015.  It will sometimes show as pending, in the column on the right hand side of the online account access screen, the day (or even two) prior to posting.

Don’t panic if you don’t see your pay pending prior to actual posting to your account.  Sometimes this happens!

Please, if your bank or credit union offers early direct deposit as a benefit, do not ever write checks or make debits based upon that early direct deposit.  Even if it is guaranteed, strange things can happen.  It’s a lot easier to wait than to clean up any unexpected mess if something goes wrong.

 

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.
  • Retired

    Must mean 1juky for the on active duty accounts, not 1 June, as stated. Picky, but might be important!

    • Mouse

      Be picky and try to prof read your entry.

      • MLS

        spell check your ‘prof’ … just saying **proof** … lol