Skip-A-Payment
If you’d like some extra cash any time of year but especially during the holiday season, simply skip your next loan payment! If your loan is in good standing, you can skip a payment once during a calendar year during the life of the loan. The cost to “skip” a payment is $25.00.
Using the Skip-A-Payment feature on your loan doesn’t change your monthly payment amount, but it does extend the loan’s term by one month. Interest continues to accrue on the loan balance from the last payment.
To skip a payment, please complete the Skip-A-Payment form. The credit union must receive the coupon no less than 5 business days prior to date of the payment you want to skip.
NOTE: Skip-A-Payment feature cannot be used on first mortgages, second mortgages, home equity loans/lines, or credit cards.
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