COVID-19 Payment Relief Request
CU1 is Here For You
Skip Your Next 3 Payments!
Credit Union 1 is offering the opportunity for financial relief to members in the wake of these unprecedented times caused from the rapidly evolving COVID -19 pandemic. To take advantage of this financial relief opportunity and skip your next 3 payments, click here 90 day Skip-a-Payment1 Program.
Request to Skip-a-Pay(ments) Now!
In our Vision “To be THE financial institution that drives family and community success”, we feel that skipping your next 3 loan payments with CU1 will help you with your other financial responsibilities during this trying time and keep your credit rating intact for future life events as well as allow you and your family to have funds to take care of those immediate financial obligations.
Submit your COVID-19 Payment Relief Request today! All parties on the loan must sign the request. Mortgage Loans are not eligible.
Request to Skip
Skip-a-Payment Qualifications and Eligible Loan
You must be a member in good standing and have $5.00 or more on deposit in your Primary Savings account. The loan must be up to date at the time the Skip-a-Payment Request is submitted. A maximum of ten skipped payments may occur per each loan's term. Multiple skips may reduce potential GAP claim or credit insurance benefits. Skip-a-Payment Requests are available to be submitted now and must be received on or before the first due date you want to skip. Credit Union 1 reserves the right to deny any request. Our team will send an email confirming if your request is approved or denied.
Only 3 months of loan payments may be skipped. For members set up on multiple payments per month, the first six (6) bi-weekly scheduled payments will be skipped or the first twelve(12) weekly scheduled payments will be skipped.
Loans NOT eligible for Skip-a-Payment are: ALL Real Estate, Commercial/Business, Credit Cards, Overdraft, and Balloon-payment loans.
1Skip-a-Payment request is subject to approval. Finance charges on the loan(s) will continue to accrue during the 90-day deferral period. The term of the loan will be extended by three months. The regular contractual payment is due on the previously agreed payment date the month after the third loan payment is skipped. There is a $105.00 non-refundable fee for the Skip-a-Payment service for each loan skipped and will be added to the loan balance unless paid using the funds available in your account. The impact to the APR will be disclosed on the skipped loan payment’s statement.