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CECU SKIP A PAYMENT PROGRAM
Now you have the option to skip a loan payment without impacting your credit rating. The Skip-A-Payment program gives you the option to defer a monthly payment on any eligible CECU loan. If your loans are paid through payroll deduction, the payment stays in your account, making it available for you when you need it. We advance your payment due date and your maturity date (for example on a 36 month loan, if one monthly payment is skipped, you make 36 payments over 37 months).
Example:
If you have a $250 loan payment for November, you could pay the $20 fee and the loan would become due for December, freeing up $230 to spend for Christmas.
The skip is based on the loan payment frequency:
• One monthly payment
• Two consecutive bi-weekly or semi-monthly loan payments
• Four weekly payments
Rules:
1. You must complete one authorization form per eligible loan.
2. You may skip on the following types of loans: Auto Loan, RV Loans, Line of Credit, Personal Signature Loan, and Share Secured Loans (non-PYF).
3. Business Loans, First-Mortgage Loans, Home Equity Loans,
Home Equity Lines of Credit, Credit Card, and type of Salary
Advanced Loans are not eligible for the Skip-A-Payment service.
4. This program is not available on loans during the first twelve (12) months of the loan agreement.
5. You may only exercise one (1) Skip-A-Payment per 12 months/per loan with a maximum of three (3) skipped payments per loan term.
6. There is a $20 service fee to skip each payment on each loan.
7. Finance charges will continue to accrue on a daily basis.
8. Loans must be current at the time of the skip request and can not have a past due history (15 days or more late) in the last 12 months.
 Skip a Pay Form
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