Terms and Conditions
Please allow sufficient time for processing prior to your loan due date. Loan payments that are paid automatically through payroll deduction or direct deposit will be manually reversed, and the funds will be available in your regular savings account within two business days.
I understand that skipping my loan payment(s) will extend the maturity of my loan(s) by an equal number of months. Select-Your-Skip will not affect my payment record since the skipped payment will be added to the loan term. Interest will continue to be calculated on the outstanding balance. Note: Skip-A-Pay will affect payouts for GAP claims made for totaled or stolen vehicles.
I understand I am skipping the payments for the loans I listed for the month I selected.
Offer valid to members in good standing. Member must have made at least three (3) consecutive months of payments. Loan must not have been 30 days late in the last 6 months. Must not have lender-placed insurance.
Real estate loans, Payment Saver loans, Advance Plus loans, loan workouts, and modified loans are not eligible for Select-Your-Skip payment. Loan term must be 60 months or less at signing. Other terms up to 72 will be considered on a case-by-case basis.
By entering my name below and submitting this form, I understand that I am agreeing to Skip my specified loans and that the maturity of each loan will be extended by an equal number of months. I understand that my request must meet the requirements and are subject to Credit Union approval. I am agreeing to debit my selected account in the amount of $20 per loan payment skipped.
