HSL-48 FRG

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Friday, April 8, 2011

Attention Vystar CU, NFCU, and USAA members

FYI to all military members who have Vystar CU... I just spoke with them and they are basiclly doing to the same thing NFCU and USAA are doing.. All military members who have direct deposit will receive their full paycheck on the 15th.. I will post more details as I get them.. :)


USAA
We are committed to being there for our members when they need us the most. USAA has several potential solutions in place that may assist members through the duration of a shutdown. These solutions will vary based upon individual member situations, but members could receive temporary assistance such as: payment deferrals, late fee waivers, flexible payment arrangements or term modifications.
 
The Navy Federal Credit Union, the country’s largest credit union, said Thursday it would cover the April 15 direct-deposit paychecks of its military customers even if there’s a government shutdown because of an impasse over spending between Democrats and Republicans.
“By covering the mid-month pay, come April 15 our active duty members will not see a difference in their direct deposit amount, as if there were no shutdown,” said Cutler Dawson, chief executive of Navy Federal.
It’s unclear how much such a move would cost the giant credit union, or even if it would be necessary.
How and when members of the military are paid has become a major flashpoint in the budget debate. Both Democrats and Republicans have blamed the other party for potentially forcing a shutdown after midnight Friday, possibly leaving service members – and their families – to miss paychecks.
Unlike many civilian employees, who would be furloughed and might not ever receive back pay, military service members would remain working but could see a lapse in their pay until Congress reaches a deal. But even having a delayed paycheck could create major headaches.
Defense  Secretary Robert Gates, on a trip to Iraq, Thursday assured troops they will be paid. Troops are typically paid twice a month, and Mr. Gates said that if a government shutdown began after Friday, troops would receive half a paycheck for the first two weeks of April. After that, troops wouldn’t be paid until a deal is reached in Washington to fund the government, although they would receive any back pay owed, he added.
UPDATE: The Navy Federal Credit Union said today that in the event of a shutdown, it would extend the advanced pay to civilian employees of the Defense Department whose pay is directly deposited with credit union.

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