Depending on where you bank, this payday may be a little confusing.
The next regular, active duty payday is Tuesday, 15 December 2020. Most military members will have their military pay deposited on Tuesday, 15 December 2020. But, 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, and Tuesday paydays can be the most confusing. 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.
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 Monday, 14 December 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.
Because of Navy Federal’s overnight pay processing system, Active Duty Checking customers will see their pay pending on Friday, 11 December 2020, to be posted overnight and available for use on the morning of Saturday, 12 December 2020. If you have this extra early direct deposit with Navy Federal’s Active Duty Checking, this December end-of-month pay period is going to be a long one – 19 days – during what is the most expensive time of year for many people.
NFCU members with accounts that are not Active Duty Checking accounts will see their pay pending on Monday, 14 December 2020, to be posted overnight and available for use on Tuesday, 15 December 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.) The Service Credit Union calendar anticipates that pay will be deposited on Friday, 11 December 2020. If you have this extra early direct deposit with Service Credit Union, this December end-of-month pay period is going to be a long one – 19 days – during what is the most expensive time of year for many people.
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.
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