Skip A Pay Program

What are the details of this program?

• Two Skip a Pays are allowed per year, per loan account. The skips cannot be consecutive months.
• The loan must be open for 180 days (6 months) or more before it qualifies. 
• Loan payment frequency must be monthly. 
• Loans will be excluded based on the following:
  • If it is a mortgage, home equity, vacant land, better choice, or credit card loan.
  • If it's 30 days delinquent or more. 
  • If the loan account is frozen. 

Is there a cost to use this program?

Yes, there is a fee to use the Skip A Pay program. The below fees are charged per skipped payment. (Ex. If you skip one payment for two different eligible loans via Self-Service, your fee total will be $50.00):

• Self-Service via Online Banking/Mobile App: $25.00 (only closed end loan products)
• Employee Processing: $35.00 (both open and closed end loan products)

How do I use the Self- Service option?

It's simple! Follow the instructions below:

Online Banking: Login to It'sMe247 Online Banking. On the home page, scroll down to find the loan payment you'd like to skip.  Click the 3 dots next to the loan payment.  Click "Skip A Payment" from the list of options on the pop-up menu. Select the loan payment you want to skip from the list of loans that may qualify for the program.  Review the application, the disclosed fee, and select the account you want the fee to be withdrawn from. Check the box to acknowledge you've reviewed your application and click "Skip Payment"!

Mobile App: Log into the Mobile App. Click the Accounts tab at the bottom of the screen.  Scroll down to the loan payment you want to skip. Click the payment. Click "Skip A Payment" from the list of options on the pop-up menu.  Select the loan payment you want to skip from the list of loans that may qualify for the program.  Review the application, the disclosed fee, and select the account you want the fee to be withdrawn from. Check the box to acknowledge you've reviewed your application and click "Skip Payment"!

What else should I know about this program?

• If your payment is set up through auto transfer or bill pay, please be sure to temporarily stop this service. You can do this via Online Banking, Mobile App, or by contacting the credit union for assistance. 
• Skipping your loan payment will extend the maturity date of your loan by one month and will also change the amount of eligible benefits in the case of a GAP claim.
• Interest will continue to accrue on the unpaid balance during the month you skip your loan payment and, when payment resumes, interest will be collected first.