Skip Pay

skip pay


Our Skip Pay option provides you the flexibility to skip your loan payment to use your money for other reasons.

How to Skip your Loan Payment:

  1. Log into Online Banking
  2. Click on Skip Pay under the All Services tab at the top
  3. Follow the steps presented to choose your loan and skip your payment

Frequently Asked Questions:

What loans can I skip?
You can skip any loan not including a credit card, overdraft protection loan, home loan, or Liberty Loan.

How often can I skip my loan payment?
You can skip your loan payment 2 times in a rolling 12 month period with a maximum of 10 skips per life of the loan.

Is there a fee to do a Skip Pay?
Yes.  The current fee is $25 per payment skip per loan. This fee will automatically be taken from your savings or checking account.

I don't have the fund in my account to cover the Skip Pay, can I add it to the loan?
No.  You will need to have the funds available in your account with the credit union to cover the fee.

My payment is in the grace period. Why isn't my loan listed as eligible?

You are only allowed 5 days of grace period to use Skip Pay.

My loan is not showing as eligible or I'm getting a Request Denied message when I click on Skip Pay. What's wrong?
Click the VIEW DISQUALIFIED LOANS REASONS link for more details.

Will my scheduled transfer date be updated automatically?
This service will adjust any scheduled transfers within Online Banking for payments to affected loans, payroll deductions to make the loan payment, adjust any electronic (ACH) payments that we orginate on your behalf for this loan and any External Funds Transfers that are scheduled to be deposited as a loan payment into the affected loan. If you have a payment scheduled from another institutions Online Banking or bill pay service, you will need to adjust your payment schedule there also so it will not send it to us. We cannot adjust payments sent to us from another financial institutions services.  

My payment is scheduled to transfer in 7 days, so why can't I do a Skip Pay?
You are not allowed to request a skip payment within 10 days of a scheduled payment.

How do I know if I have an eligible loan?
The easiest way to check is through Online Banking.  Select ALL SERVICES, then SKIP PAY.  Your eligible loans will be available in the dropdown menu.

Are there any restrictions?
Yes, certain restrictions do apply. Skip Pays cannot include credit cards, home loans, Overdraft Protection loans or Liberty Loans. Loans must also be current at the time of request, and the loan must have been open for a minimum of 180 days. Loans may not be in modification, extension, or a workout program.  Not all applicants will qualify. There is a maximum of 2 skips per loan per rolling 12 month period, with a maximum of 10 skips per life of the loan. Interest will continue to accrue on your loan during the month that you skip your payment, which could extend the loan term. There is also a processing fee that will be automatically deducted from your Entrust savings or checking account.