cancel
Showing results for 
Search instead for 
Did you mean: 

Credit unions with early direct deposit

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Established Contributor

Re: Credit unions with early direct deposit

It is certainly not Alliance Catholic Credit Union. It takes over 1/3 of a day to acknowledge my direct depost which happens at 12:01 AM! Wells Fargo oversees the accounts.


Message 31 of 91
Senior Contributor

Re: Credit unions with early direct deposit


@SouthJamaicawrote:

@Workin4abetterFICOwrote:

Question.  Why?  The period between pay will be constant still, correct?  So, what is the point to early pay?


If I were a wealthy man, I might not care. But since I'm not, I do like to have my money early. And which institution you use can make a difference. With the 2-day institutions, you can sometimes get it even earlier... I've had deposits with a Wednesday payment date credited to my account the previous Friday afternoon.... that's 5 calendar days early.


Well, the early deposit of payroll is a very nice benny, I don't count on it for calculating cash flow. My employer is the local county government and probably not as . . .  diligent on payroll as private employers. My payday is biweekly, every other Friday. Normally DCU posts it in available balance on Thursday mornings, but when there's a Monday federal holiday it often doesn't show up until late Thursday, and once not until Friday morning.


Fico 08: 734/716/734 TU/EX/EQ
Message 32 of 91
Super Contributor

Re: Credit unions with early direct deposit


@DaveInAZwrote:

@SouthJamaicawrote:

@Workin4abetterFICOwrote:

Question.  Why?  The period between pay will be constant still, correct?  So, what is the point to early pay?


If I were a wealthy man, I might not care. But since I'm not, I do like to have my money early. And which institution you use can make a difference. With the 2-day institutions, you can sometimes get it even earlier... I've had deposits with a Wednesday payment date credited to my account the previous Friday afternoon.... that's 5 calendar days early.


Well, the early deposit of payroll is a very nice benny, I don't count on it for calculating cash flow. My employer is the local county government and probably not as . . .  diligent on payroll as private employers. My payday is biweekly, every other Friday. Normally DCU posts it in available balance on Thursday mornings, but when there's a Monday federal holiday it often doesn't show up until late Thursday, and once not until Friday morning.


That makes DCU a 1-day, not a 2-day.

 

The ones I call 2-day would normally make a Friday paycheck available Wednesday.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 33 of 91
Frequent Contributor

Re: Credit unions with early direct deposit

What's the point?? It's only a benefit the first time, but then the time period is the same. You don't get any extra money.
Message 34 of 91
Established Member

Re: Credit unions with early direct deposit

I HIGHLY RECOMMEND CHIME TO EVERYONE.  THEY PAY 2 DAYS EARLY AND THEY HAVE NO FEES. THEY CAN AUTOMATICALLY SAVE 10% OF YOUR PAYCHECK.

 

only downside is that they have no branches.

Filed Pro Se: 3/2018 -- Discharge: 6/2018

Discharge Scores: All -450

Short Term Goal: 620 (645, 625, 636 01/2019)

Long Term Goal: 700+
Message 35 of 91
Senior Contributor

Re: Credit unions with early direct deposit


@brokeandwokewrote:

I HIGHLY RECOMMEND CHIME TO EVERYONE.  THEY PAY 2 DAYS EARLY AND THEY HAVE NO FEES. THEY CAN AUTOMATICALLY SAVE 10% OF YOUR PAYCHECK.

 

only downside is that they have no branches.


That's a pretty big downside, and it's not the only downside - another one is that they offer zero credit products. Every bank or credit union where I have checking and/or savings accounts I also have a credit releationship with them: DCU, great rate car loan; Penfed, great rate Home Equity LOC w/interest only minimum payments; Vantage West (local southern AZ CU), low interest, 0 fee BT/cash advance Visa.


Fico 08: 734/716/734 TU/EX/EQ
Message 36 of 91
Frequent Contributor

Re: Credit unions with early direct deposit


@SouthJamaicawrote:

@Workin4abetterFICOwrote:

Question.  Why?  The period between pay will be constant still, correct?  So, what is the point to early pay?


If I were a wealthy man, I might not care. But since I'm not, I do like to have my money early. And which institution you use can make a difference. With the 2-day institutions, you can sometimes get it even earlier... I've had deposits with a Wednesday payment date credited to my account the previous Friday afternoon.... that's 5 calendar days early.


It makes ZERO difference, regardless if you are wealthy or poor.

 

If you have 200 dollars per week paycheck, it does not matter if that pay has to last from Friday to Friday or Wednesday to Wednesday. The 200$ still has to last the same amount of time.

 

You are just deluding yourself to believe otherwise.




Starting Score: 697,722,705
Current Score: See Above
Goal Score: 775


Take the myFICO Fitness Challenge
Message 37 of 91
Super Contributor

Re: Credit unions with early direct deposit


@Workin4abetterFICOwrote:

@SouthJamaicawrote:

@Workin4abetterFICOwrote:

Question.  Why?  The period between pay will be constant still, correct?  So, what is the point to early pay?


If I were a wealthy man, I might not care. But since I'm not, I do like to have my money early. And which institution you use can make a difference. With the 2-day institutions, you can sometimes get it even earlier... I've had deposits with a Wednesday payment date credited to my account the previous Friday afternoon.... that's 5 calendar days early.


It makes ZERO difference, regardless if you are wealthy or poor.

 

If you have 200 dollars per week paycheck, it does not matter if that pay has to last from Friday to Friday or Wednesday to Wednesday. The 200$ still has to last the same amount of time.

 

You are just deluding yourself to believe otherwise.


Can we please stay on topic. If early direct deposit isn't important to you that's fine. This thread isn't about whether it's a good thing or not, it's about which credit unions offer it.

 

 


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 38 of 91
Valued Contributor

Re: Credit unions with early direct deposit


@SouthJamaicawrote:

@Workin4abetterFICOwrote:

@SouthJamaicawrote:

@Workin4abetterFICOwrote:

Question.  Why?  The period between pay will be constant still, correct?  So, what is the point to early pay?


If I were a wealthy man, I might not care. But since I'm not, I do like to have my money early. And which institution you use can make a difference. With the 2-day institutions, you can sometimes get it even earlier... I've had deposits with a Wednesday payment date credited to my account the previous Friday afternoon.... that's 5 calendar days early.


It makes ZERO difference, regardless if you are wealthy or poor.

 

If you have 200 dollars per week paycheck, it does not matter if that pay has to last from Friday to Friday or Wednesday to Wednesday. The 200$ still has to last the same amount of time.

 

You are just deluding yourself to believe otherwise.


Can we please stay on topic. If early direct deposit isn't important to you that's fine. This thread isn't about whether it's a good thing or not, it's about which credit unions offer it.

 

 


Agreed. Getting paid a day early is nice. Let's remember that the day early conept doesn't just apply to employer direct deposits. If you get your tax return direct deposited, those will show up a day early too. At my local credit union, the money sticks as "unusable" for a day or two, depending on the amount of the return. 

USAA Limitless
NavyFed AMEX
AMEX Blue Business Preferred

DiscoverIT 5%
Empower FCU Platinum
Message 39 of 91
Contributor

Re: Credit unions with early direct deposit

with NFCU mine shows up 11:00PM CST which in the end is midnight the night of EST.  Chime does do two days early, no experience with PenFed (don't really want to have to put so much there and the monthly fee for their checking account), Woodforest National Bank does 2 days as well.  If you use the Cash Management from Fidelity then its around 1 to 2 days early.  

Starting Scores: 470 Experian 510 Equifax 498 Transunion 06/13/17
Current Score: 648 Experian 610 Equifax 610 Transunion 8/03/19
Goal Score: 700+ FICO 8

Discover It Chrome = $1,400; NFCU GO Rewards Visa - $2,000; Dell Preferred Account - $1,500; Merrick Bank - $2,200; Discover It = $1,000; NFCU cashRewards Mastercard - $2,000; Avant Credit Card - $750; Credit One Bank - $700; SDFCU Platinum Visa - $500; Victoria's Secret - $250; NY&Co - $250; Justice Card - $250; Amazon Store Card Credit Builder - $100; Apple Card - $250; Montgomery Ward - $500; PenFed OLOC = $500; Navy FCU CLOC = $2,500
Message 40 of 91
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.