When opting for Skip-A-Pay, keep in mind:

  • ACH Credits and payroll deductions will still be processed and deposited into the savings account.

  • Interest will continue to accumulate on the still be processed and deposited into the loan(s) during the month the payment(s) is skipped.

  • You may skip a payment on all qualifying loans.

  • Skipping the payment(s) will result in an increased finance charge and will extend the term of the loan(s).

  • There is a processing fee of $25.00 per loan skipped. The fee(s) will be deducted from your share or checking account.

  • Offer subject to approval and does not apply to the first payment of any loan.

  • The loan cannot be past due

  • All member loans MUST be current

  • All member accounts MUST be in good standing

  • You are only allowed to skip June, July, or August

The following loan types are NOT eligible for Skip-A-Pay

  • P.A.L.

  • High Risk

  • Loan Modifications