Paycheck Chronicles

15 December 2011 Military Pay

Oops!  I almost forgot that pay day is coming up soon, until my search engine results went skyrocketing up with searches like "when will my direct deposit hit" and "navy federal paydays."

The official payday is Thursday, 15 December.  Everyone who receives a mid-month military pay should receive their funds no later than the end of Thursday.  Exact release times depend on the policies and procedures of your bank or credit union, and may vary from month to month.

Many customers will have their funds released earlier than Thursday, 15 December.  Quite a few military-friendly banks and credit unions offer to release their customers' deposits one business day early.  This would be Wednesday, 14 December.  These financial institutions include USAA and PMCU, plus many more.

If you bank with Navy Federal Credit Union (NFCU), there are two things to consider.  First is which type of checking account you use.  If you have an Active Duty Checking account, NFCU offers early direct deposit and that early date will be Wednesday, 14 December..  If you have any other type of checking account, the deposit will be released on the scheduled date of Thursday, 15 December.  The second thing to know is how NFCU shows their deposits.  The deposit will show as pending on the day before the day the pay is expected.  Pending does not mean available to be spent!  NFCU will process those pending deposits overnight and they will be available for use on the day that you should get your deposit (early or regular.)  Not sure what sort of checking you have?  Check your online access, stop by a branch or give them a call.

Hope that helps!

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