Well, summer is certainly moving pretty fast! Wondering when you’ll get paid next? The next regular, active duty military payday is Monday, 15 August 2016. Monday paydays are challenging because of the various ways that some banks and credit unions deposit military pay funds early. There’s no single way that early direct deposit is handled, and it falling over a weekend means that there are many different results. What day will you see your 15 August 2016 military pay in your bank accounts? As always, that depends on your bank or credit union.
Military members who do not know that their bank or credit union offers early direct deposit should assume that their military pay will be deposited at some time on Monday, 15 August 2016.
USAA offers to credit military pay deposits “one business day” prior to the actual payday. For this payday, that will be Friday, 12 August 2016. Though pay deposits usually post in the morning, they may come at any time on that day.
Navy Federal Credit Union
Navy Federal Credit Union (NFCU) is confusing because only one of their account types offers early direct deposit, and also because of how their deposit posting system is affected by weekend.
Members who use an Active Duty Checking account for their military pay deposit will see their pay pending on Thursday, 11 August 2016, to be posted overnight and available for use on Friday, 12 August 2016.
Members use any other type of checking account will see their pay pending on Friday, 12 August 2016, to be posted overnight and available for use on Saturday, 13 August 2016.
Pacific Marine Credit Union
PMCU also credits active duty deposits one business day early, so PMCU customers will have their pay deposited on Friday, 12 August 2016.
Service Credit Union
Service Credit Union deposits active duty military pay two business days prior to the actual payday, pending the receipt of pay information from the Defense Finance and Accounting Service (DFAS). Therefore, Service Credit Union customers should have their pay deposited on Thursday, 11 August 2016.
If you know of other banks or credit unions who offer early direct deposit as a benefit to their military customers, please let me know. I would love to include them in my twice-monthly payday articles.