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Summer Pay

Montgomery County Public Schools (MCPS) partners with Educational Systems Federal Credit Union (FCU) to offer a Summer Pay program. Depositing a portion of your pay during the school year into a Summer Pay account can help you save for the summer months, whether you are a 10- or 12-month employee.

If you participate in the Standard Summer Pay* program offered through Educational Systems FCU, a designated portion of your net salary is directly deposited into your Summer Pay account from your MCPS pay. During the summer, your money is transferred to your Educational Systems FCU regular savings or checking account, or to an account at another financial institution in one lump sum or every two weeks on MCPS summer pay dates. No taxes or miscellaneous deductions are withheld from the summer payment(s). This plan offers an annual percentage yield (APY). View the current annual percentage rate.

If you participate in the Premium Summer Pay program through Educational Systems FCU, you also have a designated portion of your net salary directly deposited into your Summer Pay account from your pay, but the Premium Summer Pay program offers a higher annual percentage yield than the Standard Summer Pay. Your funds are transferred to your account on the first and third Friday of July and August in four equal allotments.

This summer, the biweekly summer disbursements will be on the following dates:

Standard Summer Pay Accounts**

  • July 7 and 21, 2017
  • August 4 and 18, 2017
  • September 1, 2017

Premium Summer Pay Accounts

  • July 7 and 21, 2017
  • August 4 and 18, 2017

*New Standard Summer Pay accounts are no longer offered. To participate in the Summer Pay program, you may open a Premium Summer Pay account, which earns a higher rate of return.

**If you elected to receive one payment from your Standard Summer Pay account, then you will receive all of your Summer Pay savings on July 7.

Enroll now

For more information or to enroll in a Summer Pay account, visit the Educational Systems FCU website. Once you have established an account with the credit union, you can designate how much to save from each pay period or make changes to your current direct deposit on Human Resources Online (HRO). Log in with your MCPS username and password.

To upgrade to Premium Summer Pay, call Educational Systems FCU at 301-779-8500 or visit a credit union branch.

Click here to log in