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Skip-a-Payment Program

 

 

How do I skip my loan payment?

You may skip your loan payment one time per 12 month period. If you have more than one qualifying loan you may request to skip-a-payment on each loan. A maximum of 3 skips are allowed for the life of the loan. In order to be eligible to participate in the 2020 Skip-A-Payment Program, the loan origination date must be prior to May 1, 2020, the loan cannot be a share secured loan, and there must be no delinquency history on the loan history.


 

Details

Skip-A-Payment Processing Fee of $25.00 is due and payable upon execution of the skip-a-payment. Processing fee will be returned to anyone not eligible to participate in this offer. In order to skip your payment, all loans and accounts must be current and in good standing at the time we receive your request, and your loan must have been opened more than 6 months ago. Noted, both the primary member and the co-borrower/co-signer (if applicable) MUST sign and return this form. The deferral of loan payments pursuant to this agreement will automatically extend the loan maturity date by a corresponding period of time. Deferral of payments will reduce the portion of future payments applied to principal resulting in a larger final payment, or negative amortization. Interest will continue to accrue on your loan as it normally does. Certain restriction may apply and not all loans are eligible for this program. Program is subject to change.

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