Keep your cash for some holiday fun! Members with qualifying loans can skip one monthly loan payment per loan in either November, December, or January.* Use the cash for Christmas shopping, holiday celebrations, or to catch up with bills.
Many members have questions about Skip a Pay. Let us answer them for you!
How do I initiate my skip?
You can initiate your skip by logging into online banking and selecting “Skip a Loan Payment” under the “Accounts” tab or by calling us at 800.991.2221.
For payments of $500 or greater, the fee to skip a payment is $50; for payments of less than $500, the fee is $35.
When should I submit my skip request?
Please submit your skip request at least seven days before your payment is due. Skips will be processed approximately two weeks before your payment due date.
How do I know if my skip has been approved?
Your skip cannot be approved until the previous month’s payment has been made. For example, if you request to skip your January payment, your skip will be approved following your December payment. You can find the status of your skip request by logging into online banking and selecting “Skip a Loan Payment” under the “Accounts” tab. Should you have more questions about your skip request, you’re always welcome to call us at 800.991.2221 or stop by our offices.
*Deferment of payment will extend the life of the loan and may cause an increase in the final payment amount. Offer only available on CONSUMER vehicle or RV loans currently financed with Consumers Credit Union with a maximum of six extensions allowed during the term of the loan, and no prior extensions within the last 3 months. Loans must be current and all accounts in good standing. If your auto loan has GAP insurance, please contact your insurance carrier to determine how a Skip-A-Payment may affect your coverage. Offer subject to approval and does not apply to the first payment of any loan. The fee to skip a payment is $35 for loan payments less than $500; the fee is $50 for loan payments greater than $500.