Skip-a-Payment

Cushion your budget with Skip-a-Payment.  Now available any month of the year!

Through our Skip-a-Payment program, members in good standing are allowed to skip one- or two-months loan payments per rolling 12-month period, for a fee of $15 for each month skipped.  The fees collected will be donated to several charities in the area.  Other restrictions apply. 

Program Criteria:

  • All skip payment requests are subject to Credit Union approval parameters. 
  • Not all loan types are eligible for this program. The following types are excluded: real estate, home equity, home improvement, land, credit cards, and Auto Solutions Program (ASP).
  • New loans that have not had at least one payment are not eligible.
  • Any extensions, including Skip-A-Pay, are limited to two (2) within a rolling 12 month period.
  • Member must be in good standing.
  • Payment extensions will affect the interest accrual, final payoff date and equity in the collateral. The interest will continue to accrue as normal, resulting in additional interest paid on the loan.
  • Your GAP coverage payoff may be affected.
  • All other provisions of the original Credit/Loan Agreement except those amended herein remain in full force and effect.
  • Other restrictions may apply.
Please Note:
  • If your payments are normally made by payroll deduction, the payment amounts will be deposited into your share (savings) account. Funds may be accessed from the share account.
  • LOANS SET UP WITH AUTOMATIC PAYMENTS: Skip-A-Pay requires the member to request any skips, three (3) business days prior to their due date and notify the credit union if their payment is paid via ACH in order to stop the payment in time. If the automatic payment is initiated on the member side (meaning FWCU does not set it up internally), we CANNOT stop the payment from posting to the loan. These options include Bill Pay, LenderPay online payments, digital banking transfers and member to member transfers.  
  • A fee of $15.00 per loan, per month skipped will be charged.

*Please be aware that you will be limited to only skipping two months payments per rolling 12-month period. 

 Skip-A-Payment will go live on our digital banking platform, October 16.  

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