Skip a Payment on Eligible Loans and Credit Cards
ICCU’s Skip-A-Pay Service can be used twice a year for most installment loans and Visa credit cards. While mortgages and commercial loans are excluded, the process is straightforward and includes a small fee of $29.00.
Whether you’re facing unexpected expenses or just need a little breathing room, Skip-A-Pay offers flexibility and support, ensuring you can stay on track with your financial goals. Interest will still accrue during the skipped month, but the skipped payment can be made up later, making it a convenient option for managing your budget.
Eligibility
- Most installment loans can skip payments twice a year.
- RV loans with terms of 94 months or less are eligible.
- Visa credit cards with a minimum due over $29.00 are eligible.
- Mortgages, PLOCs, HELOCs, and commercial loans are not eligible.
Processing and Fees
- You can skip the current month’s payment via eBranch.
- Manual processing requires signing a Skip-A-Pay letter.
- Auto payments may need to be stopped manually.
- A $29.00 fee applies, which can be covered by a principal payment.
- Interest will still accrue during the skipped month.