Skip-A-Payment, not the backpack
New clothes. School supplies. Activity fees. Sports equipment. Back-to-school expenses can add up quickly. Skip-A-Payment1 could help you create extra room in your budget when it matters most.
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1
Pick your loan
Choose the loan you’d like to skip.
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2
Accept the terms
Review and agree to our Skip-A-Payment terms.1
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3
Pay a small fee
Pay a $35 processing fee to skip your payment.
Eligible loans1
Skip-A-Payment is available once a year on:
Everyone deserves a break
Things change, life happens. Get the flexibility you need with Skip-A-Payment.
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Disclosures
1 Skip-A-Payment is only available on Members Cooperative Credit Union loans that are in good standing, at least six months old, unmodified, contain a perfected lien, if applicable, and the borrower qualifies. Borrower may be disqualified for various reasons including overdrawn shares, loan delinquency, or past charge offs. Only one payment may be skipped within a rolling 12-month period. Each skipped payment will be applied to the end of the loan, extending the loan repayment period one month beyond the current maturity date. GAP coverage, where applicable, will not be extended beyond the original maturity date.
Skip-A-Payment is not available on first mortgages, home equity lines of credit, home equity loans, VISAâ„¢ credit cards, Drive and Save auto loans, consumer lines of credit, commercial loans, commercial lines of credit, or loans where the borrower resides outside of Minnesota or Wisconsin.
Exclusions also include loans with CPI insurance or those currently being paid by Allied or similar disability insurance. The credit union reserves the right to modify or discontinue this program at any time without notice.
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