Paycheck Chronicles

Dear PMCU...


Over the last few years, I've been hearing little bits about Pacific Marine Credit Union (PMCU.) Lots of people like them, and they seem to have pretty good offerings.  I don't have an account with them, but their special offers have caught my eye.  They have a  Military Saves week promotional CD offering a 4% interest rate.  If we weren't anticipating a PCS this summer, I would be all over that!  In addition, their other rates look competitive and customers seem to be happy with their service.

I do have one little issue, however.  PMCU is one of the financial institutions that offers early direct deposit of military pay as a benefit to their customers.  In fact, they have a calendar at their website that lists the days that they will deposit military pay.  However, it isn't titled "Early Direct Deposit Dates," or "PMCU Military Pay Release Dates" or even "Look at this nice thing that we do for you."  It is titled, "Military Paydays."  I can't tell you how confusing this is to many people.  I have had long email conversations with readers who insist that I have no idea when the military gets paid because of the calendar listed on the PMCU website.  In addition, I have readers who insist that they will get paid two days before the actual payday because PMCU pays one day early and the dates on the PMCU calendar aren't noted to reflect that they list the early date, not the actual payday.  Many military members just don't get the 1st and 15th thing, and this calendar isn't helping.

So, please, PMCU, might you adjust your calendar to clearly list the actual paydays, then the dates that you will release the funds.  This serves several positive purposes.  It helps educate your consumers about their pay schedule, it helps them know when to expect their pay, and it shows that you are offering early release of pay funds as a benefit to your customers.  WIN-WIN-WIN.

Thank you for serving our military folks, and thanks for considering my thoughts.


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