The next regular, active duty payday is Thursday, 1 October 2020. Most military members will have their military pay deposited on Thursday, 1 October 2020. Some military-friendly banks and credit unions offer early crediting of direct deposited military pay, so your pay might be credited prior to that date. 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.
Long Pay Period Warning
Due to the way this month shakes out, some folks will have a long one for the second half of September. If you bank with Navy Federal Credit Union and use an Active Duty Checking account that offers early direct deposit, or if you bank with Service Credit Union, your September end-of-month pay period will be 18 days long. If you are already finding it hard to make it from paycheck to paycheck, start planning now on how you’ll get through those extra days.
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 payday, that will be Wednesday, 30 September 2020.
Navy Federal Credit Union
Navy Federal Credit Union (NFCU) has two different pay deposit dates depending on what type of checking account you use for your military pay deposit. And because of the way that they credit deposits with a Tuesday payday, this one is going to be a little confusing for some members.
Active Duty Checking customers will see their pay pending on Tuesday, 29 September 2020, to be posted overnight and available for use on the morning of Wednesday, 30 September 2020.
NFCU members with accounts that are not Active Duty Checking accounts will see their pay pending on Wednesday, 30 September 2020, to be posted overnight and available for use on Thursday, 1 October 2020.
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 Tuesday, 29 September 2020.
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
Depending on how you plan your spending, knowing when the next military payday will come can make a big difference in your plans. Start planning for the year with the 2020 Active Duty Military pay post, or USAA customers can use the 2020 USAA Military Pay Deposit Dates article, or Navy Federal Credit Union members can use the 2020 Navy Federal Active Duty Checking Pay Deposit Dates 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!