The last regular, active duty military paycheck before Christmas is coming next week. The payday is officially on Tuesday, 15 December 2015. You may have your pay deposited at a different time from your friends, neighbors, or co-workers due to the different ways in which various banks and credit unions process military pay deposits.
The Actual Payday
Most people will see their pay deposited some time on Tuesday, 15 December 2015. This includes everyone who does not bank with a financial institution that offers some version of early direct deposit, either as an official policy or as a byproduct of their processing system.
Navy Federal Credit Union members who use a checking account that is not an “Active Duty” checking account will see their pay “pending” on Monday, 14 December 2015, to be posted overnight and available for use on the morning of Tuesday, 15 December 2015. Note that you do not necessarily have an Active Duty checking account just because you have a checking account with Navy Federal and you are on active duty. The Active Duty checking account is one of several checking accounts offered by Navy Federal, and you picked the type of checking account that you wanted when you opened your account. You can find out what type of checking account you have by checking your online account access, calling, or stopping by a branch. If you don’t have an Active Duty checking account, but you are eligible and you’d like to change accounts, that is a simple switch that can be done online, on the phone, or in a branch.
The Day Before
Many military friendly banks and credit unions offer early direct deposit for their military customers. These include USAA and Pacific Marine Credit Union (PMCU). Customers with most banks who offer deposits “one business day” early will have their pay deposited on Monday, 14 December 2015.
Navy Federal Credit Union members who use an Active Duty checking account for their military pay have an odd situation with Tuesday paydays. Navy Federal offers to deposit military pay “one business day early” for their Active Duty checking customers. However, Navy Federal’s processing system involves overnight processing after a business day. As a result, Navy Federal will move pay deposits into pending on Friday, 11 December 2015, and they will be processed overnight to be available for use on the morning of Saturday, 12 December 2015.
Service Credit Union offers to deposit military pay “up to two business day” early, pending the receipt of pay information from the Defense Finance and Accounting Service. Service Credit Union members may see their pay deposited as early as Friday, 11 December 2015, but there is no guarantee that the deposit will be made early.
I’ve switched up the way that I organize this post, because I worry that y’all get bored with the same thing every single payday. Let me know if you like the variety, or if you prefer that I keep the same structure from month to month. Thanks!