Skip-A-Payment Request

Eligible members can defer up to two loan payments per calendar year and must adhere to all program requirements. A non-refundable processing fee of $25 will be charged per loan for each skipped payment. To qualify, all loans must have been in good standing for at least six consecutive months prior to the request. If a member wishes to skip payments on multiple loans, all skipped payments must be processed within the same month.

The following loan types are not eligible for skip-a-payment. First and second mortgages, home equity loans, credit cards, student loans, and credit builder loans. Members must submit their requests to the Credit Union at least 15 days before the desired skipped payment month. Interest will continue to accrue on the outstanding loan balance during the skipped period.

Members making payments through payroll deduction will not have funds withdrawn for the selected skipped month. Regular payments will resume on the next scheduled due date following the skipped month. For example, if a December payment is skipped, the next payment will be due in January.