Holiday Skip A Pay
With the holidays fast approaching, you may need extra cash to cover some of the expenses associated with this time of year. As a valued member of Gulf Credit Union, you have the opportunity to skip a payment on your loan this holiday season. If you have more than one loan, you can skip a payment for each*! Your Skip-a-Payment must be received by October 30, 2020 for November deferrals, and by November 16 for December 2020 deferrals. All Skip a Payments are subject for approval. See the form for more information.
Make sure your loan meets the following criteria:
- Your loan is current
- Your loan must have three months of consecutive payments applied to any new loan
- The loan is scheduled for monthly, biweekly, or semi-monthly payments
- The loan has no active disability insurance claim
- You do not have single interest insurance applied to your collateralized loan
- You have not received a COVID Deferral in 2020
If you make your payments via Payroll Deduction or Direct Deposit, your skipped payment will remain in your Savings Account or your Checking Account. Interest will continue to accrue on your loan during the month you skip your payment. Please make a note that if you take advantage of this skip a payment offer, the final loan payment will be extended by one month.
For only $30 per loan, this is your chance to get the extra holiday cash you need without having to make a loan payment.
If you would rather, you may also print the form, fill it out and return it to the credit union in person or by mail. Download the form here.
*Skip-a-Payments are subject to approval. Loans excluded from this offer: All Real Estate Loans, MasterCard®, Term Loans, Lease Loans, Lender Protection, Small Business Loans/Commercial Loans, Overdraft Protection Loan, and Good2Go Quick Loans.