A classic alarm clock rests on a hand against a green background, emitting jagged lines suggesting loud ringing. The tone is urgent and energetic.

The Wait Is Over.

Your annual Skip-a-Pay is officially back. Skip an eligible loan payment this June and keep a little extra cash for road trips, summer plans, unexpected expenses, or simply a little breathing room.

A Little Extra Flexibility for Summer

Whether you’re planning a getaway, catching up on expenses, or just trying to enjoy summer without stressing every dollar, Skip-a-Pay gives you the flexibility to keep more money in your pocket when you need it most.

When you participate in Skip-a-Pay, you can defer an eligible loan payment without hurting your credit, giving you extra room to breathe this season.

Extra Summer Flexibility in 3 Easy Steps

  1. Sign Up for Skip-a-Pay
    Complete the quick application to get started.
  2. Choose Your Eligible Loan Payment
    Select the loan payment you’d like to skip.
  3. Enjoy a Little More Breathing Room
    Use the extra cash for summer fun, travel, bills, or whatever life has planned.

More Summer. Less Stress.

A skipped payment could mean:

  • an extra weekend getaway
  • summer activities for the kids
  • catching up on expenses
  • more flexibility in your monthly budget
  • a little less financial pressure

Because sometimes a little breathing room makes all the difference.

Skip-a-Pay Terms & Conditions

  1. This form must be completed in its entirety by all signers on the applicable loan(s).
  2. Deferred loan payments must have at least six (6) months of payment history.
  3. All payment deferrals are subject to the approval criteria established by Corrections Federal Credit Union. All member loans must be current with no amounts past due.
  4. For each applicable loan, members may skip one (1) loan payment every four (4) consecutive months, with a maximum of ten (10) Skip-a-Pays throughout the life of the loan.
  5. Finance charges will continue to accrue at the rate provided in your original loan agreement. Deferring a payment may result in higher total finance charges over the life of the loan.
  6. This payment deferral will extend the term of your loan(s) and you must make an extra payment(s) after your loan(s) would otherwise be paid off. This may also affect insurance payoff or settlement calculations related to your loan.
  7. Eligible loans include vehicle loans and signature loans.
  8. If you previously elected credit life/disability insurance, coverage will not extend beyond the original maturity date.
  9. Payments made through ACH from another institution will be deposited into your primary savings account and available for withdrawal.
  10. Negotiations for financial assistance do not constitute a waiver of Corrections Federal Credit Union’s right to pursue collection activity.
  11. This application is subject to approval.
  12. The following loan types are not included/ not eligible for this program: Pay Day Advance Loans, Work-Out Loans, Green Wednesday Loans, Christmas/ Holiday Loans, Consolidation Loans. 
  13. The fee for the Skip-a-Pay program is $40 per applicable loan. The fee will automatically be deducted from the designated share account unless added to the loan balance.

Your June Skip-a-Pay Has Arrived.

Don’t miss your annual chance to free up a little extra cash this summer. Apply today and enjoy more flexibility for whatever the season brings.

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