Skip-A-Payment When you need a little breathing room.
What is a Skip-A-Payment?
A Skip-A-Payment is a loan option that permits members to defer a loan payment and extend the original loan term. The number of payments skipped will depend on the frequency of the payment; one monthly, two bi-weekly, two semi-monthly, or four weekly payments. Interest will continue to accrue during the skipped month.
Do I Qualify?
The loan must be at least 90 days old
Only 1 Skip-A-Payment is allowed every 6 months on each qualifying loan
There is a $30 processing fee that must be paid before the Skip-A-Payment will be processed
All loans must be current (within 15 days of the due date) including the loan to be skipped
All accounts must be in good standing
REAL ESTATE and CREDIT CARDS DO NOT QUALIFY FOR SKIP-A-PAYMENT
If you have any questions, please contact us or call the phone center at 903-735-3000.
