Skip-A-Pay

What is Skip-A-Pay, and how does it work?

Skip-A-Pay allows members to skip up to two monthly payments on their auto or other consumer loans, so long as their accounts are in good standing.

It is important for you to understand that Skip-A-Pay will increase your finance charge and the number of payments required to pay off the loan. Your final payment may also change. Interest continues to accrue during the skip period. Should the length of the loan exceed the maximum term allowed for Guaranteed Asset Protection and you incur a claim, only a portion of the Gap will be cancelled.

It isn’t available for credit card loans or home mortgages. Lines of Credit loans can only be skipped once every twelve months. You can have up to two skips during the life of your closed-end loan.

To apply for a Skip-A-Pay Request, Complete this form or submit a request through Internet Banking Secure Message and we can send you the form.
Skip-A-Pay Request Form