We often make life easier by offering a Skip A Pay promotion, usually during the early summer and around the holidays. Check this page and watch our social media accounts for information about the next opportunity.
Skip A Pay enables you to skip a payment on up to four loans with the credit union. The only requirement is a $35 fee per loan, which we can deduct from your share or checking account.
Please note the following:
- Skipping a payment extends the term of the loan(s), and interest will continue to accrue in the balance of the loan(s) through the deferred payment period and may cause the maturity date of each to be extended.
- Members who have executed an extension agreement or who have NSF/delinquent history are not eligible.
- Payments made via ACH or automatic transfer from other institutions will be deposited into the member’s TEFCU share/savings account.
- Loan(s) must be current at the time the Skip A Pay form is received, or the request will not be processed.
- Loans obtained within the past six (6) months are not eligible.
- Single payment loans, balloon loans and credit cards are not eligible.
- Members are limited to one Skip A Pay per year.
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