It’s that time again! Folks are planning for that next paycheck (even me!). The next regular, active duty payday is Friday, 1 June 2018 . Depending on when you got paid last time, that could be quite a long pay period. When will that pay be available for you to use? That depends. Most military members will have their military pay deposited on Friday, 1 June 2018.
But if you bank with one of the financial institutions that offer early crediting of direct deposited military pay, you may have your pay credited earlier than Friday, 1 June 2018. The biggest bank that offers this benefit is USAA, and Navy Federal Credit Union (NFCU) offers it for members who use an Active Duty Checking account. It’s also a popular benefit for members of Service Credit Union and Pacific Marine Credit Union (PMCU.)
USAA’s early crediting policy is straightforward and easy to understand: military pay deposits are credited one business day prior to the actual military payday. For this pay period, that will be Thursday, 31 May 2018.
Navy Federal Credit Union
Oh, Navy Federal. Almost always when I get a “my buddy got paid and I didn’t” question, it has something to do with Navy Federal.
First, only customers who use an Active Duty Checking account receive early crediting of their military pay. Military members who have selected any other type of checking account do not receive early crediting. (If you don’t have an Active Duty Checking account, it is quick and easy to switch: call, hop online, or go into a branch.)
Second, NFCU’s overnight posting sometimes has surprising results. This is particularly true over weekends and holidays. NFCU posts deposits on Monday through Friday nights. If a deposit is supposed to be available for use on a Monday, that deposit is posted on the previous Friday night, making it available for use on Saturday, two days earlier than expected.
For this pay period, though, it is pretty straight-forward. NFCU customers with Active Duty Checking accounts will see their pay posted overnight on Wednesday, 30 May 2018, to be available for use on Thursday, 31 May 2018.
NFCU customers who use any other type of checking account will see their pay posted overnight on Thursday, 31 May 2018, to be available for use on Friday, 1 June 2018.
Pacific Marine Credit Union
PMCU offers “advance pay” two business days prior to the actual payday. For this pay period, that will be Wednesday, 30 May 2018.
Service Credit Union
Service Credit Union’s early crediting offer is “up to two business days,” pending the receipt of the pay files from the Defense Finance and Accounting Service (DFAS.) For this pay period, Service Credit Union anticipates crediting pay on Wednesday, 30 May 2018.
Depending on how you plan your spending, knowing when the next military payday will come can make a big difference in your plans. You can find all the paydays at my 2018 Active Duty Military pay post, or USAA customers can use the 2018 USAA Military Pay Posting article.
Looking to learn more about financial issues that affect military families?
Do you want to know more about your military pay and benefits?
Things change fast around here! Keep up-to-date with email alerts about the topics that are important to you!