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Skip-A-Payment

In these difficult times, we are here to help you free up cash to cover unexpected financial challenges due to the coronavirus (COVID-19) pandemic. Qualified Skip-A-Payments will allow most members to skip loan payments for up to 30 days* at no cost. Applying for a Skip-A-Payment is quick and easy. Simply send us a message through secure messaging (be sure to let us know the loan you want to skip) or call us at 888.628.4010.

Note: Before submitting your Skip-A-Payment application, be sure to cancel any external automatic payments that are currently set up through Online Banking, Bill Pay, or other financial institutions to avoid any unexpected deductions. Make sure to resume your automatic payments after the skipped month has passed.

If you have made a payment on your loan today, you must wait 24 hours to apply for a Skip-A-Payment for your next loan payment period.

In order to qualify for Skip-A-Payment:

  • The loan must be open for at least 90 days.
  • The first loan payment must be paid.
  • There must be at least two months between your last skip and the date of your new Skip-A-Payment application. In other words, the previous month was a regular payment to your loan. A maximum of three skip payments are allowed per qualified loan every 12 months.
  • You must be in good standing with all credit union accounts and your loan must be less than 30 days delinquent.
  • You must have full coverage insurance on your vehicle loan.

Frequently Asked Questions

What is Skip-A-Payment?

Skip-A-Payment is a program that allows you to skip your monthly payment on your auto, boat/RV, personal loan, or credit card. The term of your loan will be extended, and interest does continue to accrue.

Am I eligible for Skip-A-Payment?

Members who are in good standing with loans in active status that have not utilized Skip-A-Payment recently are eligible. Loans and credit cards that have utilized Skip-A-Payment in the past must have a minimum of one payment between skips and must also be in active status.1 Loans not eligible for Skip-A-Payment include: Home Equity Lines of Credit (HELOCs).

How do I submit a Skip-A-Payment application?

Please submit a request using Secure Messaging within Online Banking or reach out to our Contact Center at 888.628.4010 to submit your Skip-A-Payment application.

Is there a fee to skip my payment?

No, we are waiving all fees for Skip-A-Payments due to the coronavirus (COVID-19) pandemic and the financial challenges you may be encountering.

How will my loan or credit card be impacted?

For fixed-term loans, the payments that you skip will be added to the end of your loan term, therefore extending the term of your loan. Interest will continue to accrue during the months that you skip for both loans and credit cards. The next payment you make following an extension will reflect a higher amount paid to interest.

How far in advance of my loan payment due date must I submit my Skip-A-Payment application?

You can request the skip as long as your loan is less than 30 days past due.

How many times can I skip my payment?

You are able to utilize the Skip-A-Payment programs as long as you made your previous regular payment and as long as you continue to meet the eligibility requirements.

What if I have automatic payments in place?

Before submitting your Skip-A-Payment application, be sure to cancel any external automatic payments that are currently set up through Online Banking, Bill Pay, or other financial institutions in order to avoid any unexpected deductions. Make sure to resume your automatic payments after the skipped month(s) have passed.

What might prevent me from qualifying?

There are a few circumstances that will prevent you from being able to utilize our standard Skip-A-Payment process. These include having a loan that is less than 3 months old, being more than 30 days delinquent, if your loan was previously or is currently included in a bankruptcy petition, and having force placed insurance (CPI) on an Auto or Home Equity loan. If any of the above apply to you, please reach out to our Member Solutions team at 888.628.4010 ext. 6058.

I received a short-term Relief loan from Inspirus—can I skip a payment on that loan?

Unfortunately, the Relief Loans are not eligible for the Skip-A-Payment program. If you find yourself in a position where you need additional financial relief, please contact our Member Solutions team at 888.628.4010 ext. 6058.

Loan Extension Terms and Conditions

* This offer is not valid for Home Equity Lines of Credit (HELOCs), or if your loan has become more than 30 days delinquent. No skip requests will be honored until your loan(s) is brought current. Mortgage, home equity loans, and business loans may have different terms and conditions. Your normal payment schedule will resume after the deferral period. Interest will continue to accrue on the current balance of the loan(s). Loan extensions may extend the term of your loan(s) and result in higher total finance charges than if you had made payments as scheduled. The next regular payment(s) you make following an extension will reflect a higher amount paid to interest. If you purchased supplementary products in connection with your loan such as GAP, extended warranty or debt cancellation a Skip-A-Payment may affect any claim amounts you receive in the future. This offer is non-transferable and non-refundable. Other exclusions may apply.