About Skip-A-Pay
You may be eligible to skip your next loan payment* on qualifying loans through Skip-A-Pay! Skip-A-Pay can be used once every six months for eligible loans.
Sign in to Online Banking or open the CFCU Mobile app and select Skip-A-Pay to get started. To process a skip request, you must have at least $30 available in your CFCU Savings or Checking account. You can add funds by making an External Transfer or Mobile Deposit.
Skip-A-Pay FAQs
How can I use Skip-A-Pay in the CFCU Mobile app?
You can find Skip-A-Pay in the CFCU Mobile app under More > Skip-A-Pay. Screenshots of the steps required to process a Skip-A-Pay request in the app are below.
Why can't I select a funding source or payment option for the Skip-A-Pay fee?
You must have at least $30 available in your CFCU Savings or Checking account to see the account sin the dropdown. External accounts cannot be used to pay the Skip-A-Pay fee.
If you do not have at least $30 available in your CFCU Savings or Checking account, you can add funds by making an External Transfer or Mobile Deposit. Once the funds are available, you will be able to select the account as a funding source.
Why does my loan say ineligible for Skip-A-Pay?
Your loan may be ineligible for Skip-A-Pay for several reasons, including but not limited to:
- The loan has been skipped or had a loan modification applied in the past six months.
- The loan has been subject to force-placed insurance in the past six months.
- You have one or more delinquent loans or credit cards with the credit union.
- You have overdrawn accounts at the credit union.
- Your credit union membership is not in good standing.
Why does my loan say skipped?
Your loan may show as “Skipped” in the Skip-A-Pay widget if you used Skip-A-Pay in the past 6 months, or the next payment due date is more than 30 days in the future.
Will my next loan payment automatically be skipped if my Skip-A-Pay request is approved?
No. We cannot suspend payments that you have initiated. If you have set up your loan payment to be made electronically either through CFCU digital banking, bill pay or through another financial institution, you will need to cancel your scheduled payment in addition to submitting your Skip-A-Pay request.
* Disclosure: All offers subject to credit union approval. Please sign in to CFCU digital banking to check the eligibility of your loan(s) and review the full disclosure. Skip requests must be sent through CFCU digital banking at least one business day before your due date. There is a processing fee of $30 for each loan.
This deferral will extend the maturity of the loan beyond the scheduled maturity date. Interest will continue to accrue on the unpaid balance and the final payment may be larger than originally disclosed due to the additional interest. Any applicable credit insurance on closed end loans will not extend beyond the original date of the contract.
Electronic Payments & External Transfers: If you have set up your loan payment to be made electronically either through CFCU digital banking, bill pay or through another financial institution, you will need to cancel your scheduled payment in addition to submitting your Skip-A-Pay request. We cannot suspend payments that you have initiated.