Paycheck Chronicles

PMCU Now Offering Pay 2 Days Early


A representative from Pacific Marine Credit Union (PMCU) just contacted me, letting me know that, since June 2016, PMCU is crediting military pay TWO business days prior to the actual military payday.  If you're a planner like me, you'll like to have the right dates on your calendar.

I'm a fan of PMCU for a couple of reasons, all related to their emphasis on service.  A few years back, I wrote a post saying that I found the PMCU pay deposit calendar confusing, and they fixed it within a couple of days.  I think that is great customer service and shows their focus on providing the best for their members.

Anyway, PMCU has been crediting active duty military pay one business day early for a long time, but they've recently changed their policy to credit active duty pay TWO business days prior to the actual payday.  Banks and credit unions have early direct deposit offers as a way to entice customers to join their financial institution, and to compete against the services being offered by competitors.

Here's the PMCU depositing calendar for the second half of 2016.  Actual paydays are highlighted in yellow, PMCU deposit dates are highlighted in blue.

PMCU 2nd Half 2016

As you can see, sometimes a day or two can make the pay come significantly before the actual payday, especially when there is a holiday combined with a weekend.  (Notice the mid-November pay, which will be deposited on 10 November.)  This can result in some oddly long or oddly short pay periods.  Be prepared for them!

Early direct deposit is a nice bonus, but it doesn't change the amount of money that you are earning or the need to plan your spending.  If you're living paycheck-to-paycheck and counting down the days until your next paycheck arrives, shoot me a note and we'll see what we can do to help you get on a little more solid financial footing.

Thanks for the update, PMCU!

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