As a valued member of Gulf Credit Union, you have the opportunity to skip a payment on your loan twice a year. If you have more than one loan, you can skip a payment for each*! Skip-a-Pay requests should be received at least five (5) business days before the payment due date. Loans greater than fifteen (15) days delinquent are not eligible for Skip-a-Pay.
If you make your payments via payroll deduction or direct deposit, your skipped payment will remain in your savings or 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, you can ‘Skip’ your loan payment(s)! Only two (2) skipped payments are allowed on any loan in a single calendar year. There must be one payment made between skips.
Make sure your loan meets the following criteria:
• Your loan is current
• Your loan must have three (3) 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
• There must be one payment made between skips.
*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.