Skip-A-Pay
Skate Past Your Monthly Loan Payment
Give your holiday budget a little more breathing room with Skip-A-Pay from Coosa Valley Credit Union. CVCU's Skip-A-Pay program allows you to skip your upcoming loan payment(s), so you can keep your money to use as you wish - whether it's on a getaway, gifts, parties or other plans.
Skip-A-Pay Criteria:
- Loan(s) must have been made at least six months prior to skipped month.
- Loan(s) must be current with no late payments within the last 12 months.
- A fee that is 15% of the payment amount applies.
- Real estate loans, lines of credit, credit cards and business loans are not eligible.
Skate past your monthly loan payment(s) this winter and make the holidays a little greener! Visit your nearest branch to get started.
SKIP-A-PAY TERMS AND CONDITIONS
By participating in Coosa Valley Credit Union's Skip-A-Pay program, you request that Coosa Valley Credit Union defer your loan payment(s) as indicated. You agree and understand that:
- Loan(s) must have originated six months prior to be eligible.
- Loan(s) must be current with no late payments within the last 12 months.
- Finance charges will continue to accrue at the rate of your original loan agreement.
- Deferring your payment will extend the term(s) of your loan(s) AND increase the finance charge.
- You will be required to resume your monthly payments the following month.
- If you elected GAP and/or Extended Warranty coverage, the coverage will not be extended beyond the original maturity date.
- All signers/co-signers of the loan(s) must agree to the terms of the Skip-A-Pay program and sign the request form.
- If you make your Coosa Valley Credit Union loan payment automatically from another financial institution, it is your responsibility to cancel/postpone your payments.
All Skip-A-Pay requests are subject to Coosa Valley Credit Union approval. Requests to skip a payment must be received at least five days prior to payment due extension for this program. There must be six months between each skipped payment. The processing fee is 15% of the payment amount per loan. Excludes real estate loans, lines of credit, credit cards and business loans.