- Must have had the loan for 6 months with 6 monthly consecutive payments
- Loan must be current
- All accounts must be in good standing with the Credit Union*
- Must complete a Skip-a-Pay Application at least 10 business days before the due date you wish to skip
- Must satisfy $30 Skip-a-Pay Application fee**
- Must have no deferrals on the loan within the last 90 days
- Must have 12 monthly payments between skips
- Must not have exceeded 1 skips within a calendar year
- Must not exceed 6 skips over the life of the loan
*All Acclaim FCU loans must be current with no collection action pending. Your deposit accounts must not be overdrawn.
**A $30 application fee will be applied for each Skip-a-Pay request and will be taken from the account you indicate on your form, regardless if the application is approved or denied. The funds must be available at the time you turn in your application. Be sure to include a check or Money Order if you do not have the available funds in your account. All DocuSign applications must have funds available at time of submission. A 30% donation of collected fees will be donated annually to a Credit Union-selected charity. Charity is subject to change.
Please note:
Your application approval or denial is based on the criteria listed above. Please ensure you meet all qualifications before applying. Fee is non-refundable. Check your current due date to ensure you are not already ahead. If you are, please contact the Credit Union for other options.
AUTOMATIC PAYMENTS: You are responsible for suspending automatic payments you have initiated for the month from another financial institution in which you are skipping a payment. Acclaim Federal Credit Union will not reject an automatic payment received from another financial institution for your loan payment. For an ACH origination where Acclaim Federal Credit Union is the originator, a request to stop a transfer must be received at least ten (10) business days prior to the scheduled transfer date. Loan payments scheduled to be automatically transferred from your payroll deduction or direct deposit will remain in your share account and will not be applied to the loan.
