Paycheck Chronicles

1 June Pay/Memorial Day Holiday

Update 2011:  This post is referring to 2010.   Here is the 2011 information, or I will be posting more information about 2011 soon.  For now, you can read Long Pay Period Warning.

I've been getting a lot of questions about when people will get paid over the Memorial Day weekend.  The official pay day is Tuesday, 1 June, but lots of banks, including USAA and Navy Federal, try to get those deposits released a day early as a courtesy to their customer.  Since the day before 1 June is Memorial Day, a federal and bank holiday, folks are guessing that they will get their deposit on Friday, 28 May.

I emailed my friends at USAA and they replied that they are thinking that they will be able to post the deposits on Friday, but it really depends on when DFAS releases the funds to them.  I'm not sure if this clears it up or makes it less clear.  It still seems that we will have to wait and see what happens.

Please keep in mind that the next pay day is Tuesday, 15 June.  If the deposit does come on Friday, 28 May, there will be 17-18 days before the next pay.  That's a long time!  Be sure to plan ahead for that longer stretch.

UPDATE 26 May 2010:  We use Navy Federal, and the deposit is showing pending with a date of 28 May.  I hope that helps.

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