How is money disbursed from my Summer Pay account?
The money in your Summer Pay Account will be disbursed to your MSUFCU checking or savings account during the months of May, June, July, and August when only a partial paycheck or no paycheck is received.
1/3rd of the money in your account will be disbursed in both June and July, and 1/6th of the money in your account will be disbursed in both May and August. As you will receive a partial paycheck from MSU during May and August but no paycheck during June and July, this disbursement formula will provide you with a similar amount of money each month throughout the year.
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MSU Federal Credit Union
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APR = Annual Percentage Rate. APY = Annual Percentage Yield.
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