How much does it cost to skip my payment?
It costs $35 to skip your payment per loan, and it will be added to your approved loan once you qualify for the skip.
What are the qualifications to skip my payment?
Skip payment only applies to consumer loans: personal, vehicle, and VISA credit cards. Real estate loans, MyMoney Track loans, Quick Cash Loans, or loans that are in a modified agreement do not qualify. The loan origination date (which includes the last advanced or add-on-date) must be six month prior to the day of the skip payment request along with 6 consecutive payments. Extensions or alternate payments within the past six months will disqualify your loan and you cannot have an active Collateral Protection Insurance policy in place. You must have no loss to the credit union (loans, credit cards, shares, etc.), no negative share accounts, or have modified loans through trouble debt restructuring. Your payment(s) must be made on or before the last day of the month prior to the month in which you want to skip your payment.
When can I apply for my skip payment?
Members who are eligible for skip payment will receive notification through e-mail or mail. You may contact Member Communications if you would like to inquire if you are eligible.
Will interest continue to accrue during the skip period?
Yes, interest will continue to accrue and payment protection premiums will continue to accrue during the skip period.
How can I apply?
Talk with any of our Branch Managers or Financial Service Representatives at any of our eight locations, or call and speak to any representative from our Member Communications team (800-378-3778) to see if you are eligible to skip your payment.
How will I know if I am eligible to skip my payment?
Eligible members with an active email address will be contacted through this channel. Eligible members without an active email address will be sent notification through the mail. Remember to make your current month's payment, as that is a requirement for the skipped payment to occur.
What if I have an automatic (ACH) payment?
If your payment transfers from an ACFCU account, your transfer will suspend for the skipped month. If your payment comes from another financial institution and we originated the ACH, your transfer will suspend for the skipped month. If your payment comes from another financial institution and we did not originate the ACH, contact your financial institution to suspend your payment for the skipped month.
What if I make my payment through myACFCU online?
You will need to login to the system to delete this transfer and delete the recurring series. You will need to set a new transfer series to continue your payment on recurring transfer after the skipped month.
If I'm eligible, why didn't my due date change?
If you are eligible, you must still make your payment on or before the last day of the month prior to the month in which you want to skip your payment. For example, if you are eligible to skip your November payment(s), you must make your October payment(s) on or before the last day of October.
Terms and conditions apply. To be eligible, you must be a member in good standing. ACFCU must receive this voucher prior to the due date of the payment you are electing to skip. Vouchers received after the payment due date will not be honored. All ACFCU accounts must have positive balances, and all loans must be current. Offer expires January 31, 2019.