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For only a $25 processing fee per skipped loan payment, members with eligible* loans can skip up to two monthly payments for the life of their loan. Schedule your Skip-Ah-Pay loan payment today!
The Skip-Ah-Pay Programme Features Include:
FLEXIBILITY
Gives you the flexibility to skip a payment when you need it most.
CONVENIENCE
Skip up to two payments!
EASY APPLICATION
Simply complete the Skip-Ah-Payment form and submit.
Frequently Asked Questions
How does the Skip-Ah-Pay Program work?
Qualifying members are allowed to skip up to two months’ worth of payments per life of a loan. A $25 fee will be charged for each loan that you elected to Skip-Ah-Pay and will automatically be deducted from your CCCU account. The Skip-Ah-Pay will not be processed if the fee(s) cannot be collected due to insufficient funds. You can choose to skip all your eligible loans at once or separately throughout the year.
Is there a fee for Skip-Ah-Pay?
YES. A $25.00 fee will be charged per loan each time that you skip a payment. This fee is deducted from your CCCU account at time of the Skip-Ah-Pay request.
Why is there a fee for Skip-Ah-Pay?
The fee is necessary to help cover the costs of programme administration. Skip-A-Pay is an optional program. As a not-for-profit financial institution, any extra income the credit union makes is returned to members in the form of lower loan rates, higher dividends, or lower cost services.
What happens if I choose to Skip-Ah-Pay?
If you choose to skip a loan payment, your “next due” date will be advanced one month forward and you authorize Community Care Credit Union to extend the loan maturity date. Interest will continue to accrue during the period when no payment is made.
Can I skip any type of loan payment?
No. Mortgage loans, are not eligible for Skip-Ah-Pay.
How do I request a Skip-Ah-Pay?
You can request a Skip-Ah-Pay on your loan(s) in a branch, online, or over the phone. All requests must be received at least one week (7 days) before payment is due but no more than 30 calendar days prior to the due date.
Online Requirements:
• Download and complete this form
• Email to completed form to ccculoans@communitycarecu.org
Is there a deadline to submit a Skip-A-Pay request?
Yes. You must submit your Skip-A-Pay Request at least one week (7 days) prior to the first loan payment due date of the month you wish to skip.
Can I schedule a Skip-A-Pay in advance?
No. We are only able to setup a Skip-A-Pay for the next month’s payment due.
Will skipping a loan payment affect my credit?
No. Since this is a program offered by the Credit Union, it will not have any negative effects on your credit. However, it does extend the loan’s term and interest continues to accrue.
How often may I use Skip-Ah-Pay?
You are now able to skip up to two months of loan payments per the life of the loan.
Why would my Skip-Ah-Pay request be denied?
In order to qualify for the Skip-Ah-Pay Programme the following conditions must be met:
- Programme is only available to members in good standing.
- Loan must be current – <31 days due.
- Not available to new loans <6 months.
- Not available to delinquent loan accounts or accounts delinquent in the past 120 days.
- Not available to first time borrowers.
- Not available on Mortgage Loans.
- Only two skipped payments per loan.
- Months skipped must not be consecutive.
If I already paid to skip my loan payment and changed my mind, will the fee be refunded?
No. The $25 processing fee per loan payment you paid is non-refundable. Your payment will still skip as requested unless you have had a late payment or become disqualified by another means after you paid your fee.
Terms and Conditions
1. Programme is only available to members in good standing.
2. Loan must be current – <31 days due.
3. Not available to new loans <6 months.
4. Not available to delinquent loan accounts or accounts delinquent in the past 120 days.
5. Not available to first time borrowers.
6. Not available on Mortgage Loans.
7. Only two skipped payments per loan.
8. Months skipped must not be consecutive.
9. Processing fee of $25.00.
Ready to Skip-Ah-Payment?
- Complete this form.
- Submit completed form to ccculoans@communitycarecu.org
- Pay the $25 processing fee per loan payment deduction from your credit union account.
If you have any questions, please review the Skip-A-Pay Frequently Asked Questions (FAQs) and terms and conditions or call us at 868-708-2228 or 868-478-2228 and we’ll be happy to help you.
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