Is there a fee for accepting the Skip-A-Payment offer?
No. There is no fee to process a skipped loan payment.
Which of my loans is eligible for Skip-A-Payment?
Eligible loans include RFCU consumer loans:
- Must have at least a $5 balance in your RFCU share savings or checking account
- Loan payment cannot currently be made by any credit insurance
- If you purchased GAP insurance on your loan, processing a Skip-A- Payment may alter your
GAP payout
Several factors make a loan ineligible for a Skip-A-Payment:
- Your loan payment due date has already passed.
- Your loan is a Real Estate loan (mortgage or Home Equity) or an Open-ended Line of Credit (VISA or other RFCU Line of Credit).
- A Skip-A-Payment has already been processed for this loan within the past 12 months
Why can’t I skip my Credit Card or my Real Estate loan payment?
Real Estate loans and credit lines have special regulations that prevent us from offering this service
Will I still be charged interest if my payment is skipped?
Yes, interest will accrue even though your payment is deferred.
How many times can I skip my payments?
Once every 12 months.
Which payment can I skip?
The one that is currently due. For example: If you want to skip January’s payment, you must wait until the December payment has been made.
If I do not want to skip my payment now, can I do it some other month?
Yes, this program is now available year-round-one skip every 12 months.
My payment was due yesterday. Is it too late to skip?
Yes, you must submit your Skip-A-Pay request at least 10 business days prior to your due date.
What do I do if I need assistance in processing my request?
Contact our Member Service Center at (800) 562-7328 or
visit your local RFCU branch.