Life can't wait... but payments can.
Wouldn’t it be great if you could skip a loan payment and have those funds available?
YOU CAN! Skip-A-Pay is available in July and December. Maybe you just need extra funds, a summer vacation in July, or Holiday shopping in December. The choice is yours!
Members are allowed one (1) skip per loan per calendar year:
- Vehicle Loans
- ATV Loans
- Recreational Vehicle / Camper Loans
- Consumer Loans
- Credit Cards
- Line-Of-Credit Personal Loan
- Share Secured Loan
- Certificate Loan
*Members must qualify for approval. Criteria includes no extension agreements, no legal accounts. First payments on loans are also not eligible. The final payment on “Balloon loans” cannot be skipped for Share Secured and Certificate Loans. The form must be submitted in the month you want to skip; prior to the due date. Members may only skip one time per loan, per calendar year. A loan must be opened for 6 months to skip a payment. Interest will continue to accrue when a payment is skipped. If your vehicle is financed with Commonwealth Credit Union and you purchased GAP coverage, multiple payment skips may impact your GAP claim in the event of a total loss.