Skip-A-Payment
When your monthly budget needs a break postpone a payment with Skip-A-Payment.1
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1
Apply to skip a qualifying payment
Complete your application.
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2
Mail your application
Mail your application to Members.
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3
Pay the processing fee and skip your payment
Pay a $25 fee for processing and skip your payment.
Eligible loans1
Skip-A-Payment is available once a year on:
Everyone deserves a break
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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, and 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, Expanded Plus auto loans, Drive and Save auto loans, or business loans. 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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