Planning your spending is easier when you know when you’ll have the money to spend. And while military paydays are tied to the 1st and 15th, they get moved due to weekends and holidays – or even weekends AND holidays put together. And then there are many banks and credit unions that offer early crediting of military pay. It can get a little bit confusing!
The next regular military payday is Monday, 1 November 2021. Most military members will be paid on 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.
Long Pay Period Warning
For anyone who gets paid early – including Navy Federal Credit Union members who don’t use an Active Duty checking account and don’t usually get paid early – the November end-of-month pay period is going to be long – 18ish days. That’s over Thanksgiving and Black Friday shopping weekend. Plan ahead so that you’re prepared for the long pay period during a time when you may have extra expenses.
You might also consider using this long pay period as a stress test of your personal finances.
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 Friday, 29 October 2021.
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. Monday paydays are weird with Navy Federal, so read up:
Active Duty Checking customers should see their pay pending on Thursday, 28 October 2021, to be posted overnight and available for use on the morning of Friday, 29 October 2021.
NFCU members with accounts that are not Active Duty Checking accounts should see their pay pending on Friday, 29 October 2021, to be posted overnight and available for use on Saturday, 30 October 2021. Yes, I know this sounds weird, but it is right. The Navy Federal pay processing system is based on overnight payments, and those payments are started on a business day. With the Monday actual payday, they can’t process from a Sunday. So they start the process on Friday and the pay is available for use on Saturday. It’ll happen with the next paycheck, too – but you’ll then have a ridiculously long pay period at the end of November, over Thanksgiving weekend.
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 Thursday, 28 October 2021.
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 2021 Active Duty Military pay post, or USAA customers can use the 2021 USAA Military Pay Deposit Dates article, or Navy Federal Credit Union members can use the 2021 Navy Federal Active Duty Checking Pay Deposit Dates article.
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