Skip-a-Pay

For a fee (per Skip-a-Pay request), you can request to skip up to two payments each calendar year per qualifying Credit Union 1 loan with 10 maximum skips over the duration of the loan term. Funds to pay the fee must be available in your Credit Union 1 checking or savings account at the time of the request. Finance charges continue to accrue on the unpaid balance of your loan and the maturity date of the loan is extended by one (1 ) month for each month skipped.

All skip-a-pay requests must be received at least 5 business days (but no more than 20 calendar days) prior to the due date of the payment you are requesting to skip.

If you choose to skip a payment, your next regularly scheduled payment is due immediately after the payment date of the regularly scheduled payment you are approved to skip.

If you have set up automatic payments to pay your loan, you are responsible for modifying or canceling the scheduled payment.

Request to skip-a-pay on your loan(s) by submitting a Skip-a-Pay Request online.

Skipping a loan payment through CU1’s Skip-a-Pay program will not have any negative effects on your credit.

You are able to skip up to 2 loan payments per loan per calendar year, with 10 maximum skips over the duration of the loan term.

Yes, you are able to skip up to 2 loan payments per loan per calendar year, with 10 maximum skips over the duration of the loan term.

All Real Estate, Commercial/Business, Share/Certificate Secured, Credit Saver, Credit Cards, Overdraft Protection Loans, Balloon-Payment Loans, loans with 4 or less payments remaining, or any loan originated within the last 12 months, or Auto Loans missing the title on file with CU1 are ineligible to skip-a-payment.

You will receive a confirmation email that will tell you whether your Skip-a-Pay request has been approved.

If GAP Coverage was elected on your auto loan, you agree to refer to your GAP addendum for specifics regarding coverage of skipped payments. Skip-a-Payments may or may not be covered with your insurance carrier. Multiple skips may reduce potential GAP claim or credit insurance benefits. If you have GAP, a maximum of ten (10) payments may be skipped per loan contract. You agree to keep track of the number of SAP requests you have requested and been approved for.