Need a little extra flexibility this month?
Our Skip Payment Program allows qualified members
to move one eligible loan payment to the end of the loan term, giving you a little extra breathing room when you need it most.
The payment is not forgiven; it is simply postponed and interest will continue to accrue during the skipped payment period, and the loan maturity date will extend accordingly. A $50 fee applies per account number,
and all requests are subject to approval and eligibility requirements.
Details
Program Highlights
- Move one qualifying loan payment to the end of your loan term.
- Take a little extra breathing room in your monthly budget.
- Simple request process for qualified members.
- Interest continues to accrue during the skipped payment period.
- Subject to Credit Union approval and eligibility requirements.
- $50 fee per account number.
Eligibility Requirements
- Member account must be in good standing with no negative balances.
- At least 6 monthly loan payments must have been made.
- Loan must be current and not delinquent.
- Maximum of 2 skip payments per calendar year.
- Skip payments may not occur in consecutive months.
- Maximum of 6 skip payments over the life of the loan.
Ineligible Loans Types
- Credit Cards
- Real Estate Loans
- Overdraft Lines of Credit are not eligible for the Skip Payment Program