15 October 2014 Military Pay

It’s coming…the one Wednesday payday that isn’t simple.  The next regular, active duty military  pay day is Wednesday, 15 October 2014.  When will you get paid?  Well, that depends on a variety of things.  Wednesday are usually easy, but the Monday holiday complicates this particular payday for some people.

One Business Day Early

At least the most common early deposit schedule won’t be complicated this time around.   Two big military-oriented companies that pay one business day early are USAA and Pacific Marine Credit Union.    Banks and credit unions that credit direct deposits one business day early will post those deposits sometime on Tuesday, 14 October 2014.  Easy peasy!

Service Credit Union

Service Credit Union’s policy is more flexible than most others.  Service Credit Union posts active duty military pay “up to two business days” prior to the actual payday, if the payroll information is received early.  Service Credit Union does not guarantee that the pay will be deposited early.

I don’t have any reference for predicting when Service Credit Union deposits might be posted.  It could be Saturday, it could be Tuesday, it could even be Wednesday.  You’re just going to have to wait and see.  This is one downside to Service Credit Union’s policy:  it is often the earliest, but it is inconsistent.

Navy Federal Credit Union

Navy Federal Credit Union (NFCU) is going to be the most confusing for this paycheck.  Because of the fact that there are  two different paydays depending on which type of account you use, and because the bank holiday effectively falls in between those two paydays, the two different groups of NFCU customers will be paid four days apart for just this pay period.    NFCU members who use Active Duty checking accounts will see their pay pending on Friday, 10 October 2014, to be posted overnight and available for use on Saturday, 11 October 2014.  NFCU members who use any other type of checking account will see their pay pending on Tuesday, 14 October 2014, to be posted overnight and available for use on Wednesday, 15 October 2014.

**Important Note**

If you get paid on Saturday, or before, because of this bank holiday weekend, it is going to be a very long pay period for you.  This definitely includes NFCU customers who use Active Duty checking, and could include others depending on how the various banks and credit unions process this paycheck.  Any which way it works out, the next payday won’t be until 31 October 2014.  Even if your bank pays one day early, that could be 19 days between paychecks!  That is a long time for most folks.

About the Author

Kate Horrell
Kate Horrell is a military financial coach, mom of four teens, and Navy spouse. She has a background in taxes and mortgage banking, and a trove of experience helping other military families with their money. Follow her on twitter @realKateHorrell.