Skip-A-Pay

UCU’s popular Skip-A-Pay program is offered year round, allowing you some extra flexibility when you need it!

  • Defer one regularly scheduled monthly loan payment
  • One "skip" allowed per eligible UCU consumer loan within a 12 month period
  • Small fee of $25 for skipping a payment
  • Offered all year

Getting Started

To sign up for Skip-A-Pay, please complete the Authorization Form by clicking the button below.


*SKIP-A-PAYMENT PROGRAM TERMS AND CONDITIONS
UCU’s Skip-a-Payment Program (“the program”) allows its members to “skip” or “defer” one regularly scheduled monthly payment per eligible loan within a 12 month period. There is a $25 service fee for this privilege (service fee is per loan payment skipped). Existing finance charges will continue to accrue on a daily basis. All UCU Deposit Accounts must have a positive balance and all ODP balances must not be over 30 days outstanding to be eligible for the program.

ELIGIBLE LOANS
All outstanding (both eligible and ineligible) UCU loans must be current in order for any one loan to be eligible for the program. Loans must have received a minimum of two monthly payments to be eligible for the program. All Skip-a-payment requests must be received by UCU a minimum of five (5) business days prior to the loan due date.

LOANS EXCLUDED FROM THE PROGRAM
Business loans, real estate secured loans (1st mortgages, home equity loans and lines of credit), student loans, single payment loans, credit builder loans, certificate secured loans, account preserver loans, seasonal loans, stepping stone loans, and credit cards. Loans that have received a loan extension, restructure, or collections modification within the past twelve (12) months. Loans with an original balance that is $1,400.00 or less, that by skipping a payment the full term of the loan would exceed 24 months.

LOAN TERMS AND CONDITIONS
The terms and conditions of the loan agreement(s) will still apply except that there will not be any regular monthly payments required during the deferral period set forth above. Interest will continue to accrue on the loan during the month(s) the payment was skipped. Deferral of the regular or minimum monthly payments may result in having to pay higher total finance charges and the loan repayment schedule will be extended. Thereafter, regular monthly or minimum payments must be made until total principal and interest is paid in full. This request is subject to credit union approval.

OTHER CONSIDERATIONS
Eligible loans protected with GAP coverage that participate in the program may be affected by a reduction in any future GAP claim if more than two monthly payments are skipped during the life of the loan. Eligible loans with non-monthly payment schedules will receive the monthly equivalent adjustment (e.g. Weekly payment frequencies will be skipped four (4) payment cycles, bi-weekly payments will be skipped two (2) payment cycles).