And just like that, we have another long pay period. If you think you might have trouble making ends meet at the end of this month, start planning now for how you’ll stretch your dollars a little more, and where you’ll turn if you just can’t stretch them far enough.
The next regular military payday is Wednesday, 1 June 2022. Military members will be paid that day, unless they use a bank or credit union that offers early crediting of military pay as a benefit to their members. The two biggest financial institutions that offer early crediting of military pay are USAA and Navy Federal Credit Union.
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. So, for this payday, USAA banking customers should have their military pay deposited on Tuesday,31 May 2022.
Navy Federal Credit Union
Navy Federal Credit Union (NFCU) has two pay deposit dates depending on what type of account you use for your pay deposit. This pay period will include a little wackiness due to the Monday holiday.
Active Duty Checking will not have a long stretch this pay period, but the next pay period will be long. NFCU members who use Active Duty Checking accounts should see their pay pending on Friday, 27 May 2022, to be posted overnight and available for use on the morning of Saturday, 28 May 2022.
Whenever I publish a pay deposit date that includes a Saturday, there are a lot of questions. And that’s absolutely fair, because it does sound a little weird. But here’s what happens: Navy Federal’s pay processing system is based on having the day before the deposit be a business day. So any deposit that is due on a day after a weekend or a holiday gets pushed earlier to the day after the last business day. Monday deposits always get posted overnight on Friday for availability of Saturday.
This pay period, it’s a Tuesday deposit, but Monday is a holiday, so it gets accelerated to pending Friday, available Saturday.
Clear as mud, right?
NFCU members with accounts that are not Active Duty Checking accounts should see their pay pending on Tuesday, 31 May 2022, to be posted overnight and available for use on Wednesday, 1 June 2022.
Service Credit Union
Service Credit Union’s early crediting offer is “up to two business days” early. And then we get into this Monday holiday.
The Service Credit Union calendar expects that pay will be deposited on Friday, 27 May 2022. Service Credit Union folks will also have a long pay period in the first half of June.
You can see a complete list of banks and credit unions that I know offer early direct deposit at Banks and Credit Unions With Early Direct Deposit Of Military Pay If you know more, let me know!
Knowing when the next military payday will come can make a big difference in your plans. Start planning for the year with the 2022 Active Duty Military pay post. USAA customers can use the 2022 USAA Military Pay Deposit Dates article. Navy Federal Credit Union members can use the 2022 Navy Federal Active Duty Checking Pay Deposit Dates article.
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