To skip a payment, there is a $25 fee per loan per month that you skip.
-Application must be submitted at least five days before your next scheduled payment
-Loan cannot currently be more than 30 days delinquent
-Loans rewritten or extended in the past 12 months to correct late payments are ineligible
-Loans 60 days or more past due at the end of the previous month are not eligible.
-Any loans with additions for force placed insurance in the last 12 months are ineligible
-Six full payments on new loans must be received prior to first payment skipped
-Three full payments for loan add-on must be received prior to the first payment skipped
-Only 2 payments can be skipped in a 12 month period for loans with a remaining balance under $20,000
-Not available on Visa, mortgage, or second mortgage loans
-Not available on loans with an outstanding balance of $30,000
-Loans with a remaining balance of $20,000 to $30,000 are only eligible for one skip payment per year
-Not available on loans with a remaining payback term of 60 months (5 years) or greater
A fee of $25 will be assessed per loan per month. This must be paid before the application can be processed and can be deducted from ANY credit union account. Fee does not apply towards principal or interest. Interest continues to accrue during the time when payments are not made. Skipping a payment will extend the payoff period of your loan. Payroll deduction payments will be redirected to the 100 suffix account for the payments that are being skipped. By submitting this request, you agree that the information is correct to the best of your knowledge. You will be notified by mail if your application is denied. You also agree to notify us of any changes to your name, address, or employment. You authorize the credit union to obtain credit reports in connection with this request.