The holidays are just around the corner, which leads to an increase in financial stress. Food, travel, and gifts all contribute to increased costs this time of year, and can make it difficult to keep up with regular bills. That is why we created our Skip-A-Payment Program.
What it is
Our Skip-A-Payment Program is exactly what it sounds like, it allows you to skip a regular monthly payment on your loan with us so you can catch up on bills or take advantage of those holiday sales. You are able to skip each of your qualifying loans up to two times per calendar year, and these skips can be completed any time during the year.
How it works
In order to participate in the Skip-A-Payment program, all of your accounts must be in good standing. There is a $39 processing fee per loan and per skip. This fee must be in your account before the skip can be processed and is nonrefundable. Loans that do not qualify for this program include VISA, Mortgage, Home Equity, any loan with a term longer than 84 months, and any loan in an active payment arrangement. Also, the first payment on the loan must have been made before a Skip can be processed.
Submit a Skip-A-Payment Request
If you would like to submit a Skip-A-Payment request, click here. Print this form and fill out the required information. You can fax this to us at 217-244-5789 or mail it to 2201 South First Street, Champaign, IL 61820. You can also drop it off at a U of I Community Credit Union branch location. If you would like to sign up in person, stop by one of our branches and we will be happy to assist you.