2024 Skip-a-Pay

  • Eligible for Auto, Adventure, and Signature loans only
  • Must be an established loan older than 90 Days
  • $30 fee per loan skipped
  • Account must be current at the time of application

Skip-a-Pay Program Form

Download and complete the Skip-a-Pay form to participate. Submit the completed form in person at any of our branches.

 

Features you’ll like

 

Skip December's Loan Payment

Submit your Request by Calling 606-329-7876

Gain Flexibility in your Budget

How it Works

1 If you choose to skip a payment, your current due date will be advanced one month forward, just as if you paid.

2 Interest will continue to accrue on your loan during the skipped payment period and your loan maturity date will be advanced one month forward.

3 All terms and conditions will remain the same and you'll resume your next regular payment.

 
 

Contact Us to Apply


  • Stop in at any location
  • Message us online through online banking
  • Call us at 606-329-7876
  • Email info@mccu.net
 
 

Important Notes

 

The following Members Choice loan types are not eligible for the Skip-A-Pay program:

  • Any Real Estate Loan

  • Line of Credit

  • Credit Cards

 Is there a fee?
Once we’ve approved and processed your request, a $30 processing fee will be collected.

  • You are responsible for stopping the payment for the month you are skipping if you set up your payment through Members Choice Online Banking, another financial institution’s bill payment service, or if your payment is initiated by another financial institution.

  • We are unable to reverse any payment you have set up that was not stopped for the chosen month.
    If you’re unsure of how your payment is set up, contact us at: 606.329.7876.

  • Please return/submit your application at least 7 business days before your payment due date.

 

Disclosure:
By signing the Skip-A-Pay voucher attached to this letter and returning it with the associated fee, you understand that: Your payment extension will be used to defer the next payment due date for your loan after the date it is received by the Credit Union. Your next monthly payment will be applied to finance charges, including the finance charge for the payment you skip, before being applied to your principal balance. You must resume payment the following month and will continue to be responsible for the entire outstanding principal balance and interest of your loan. This voucher is not transferable and may not be used if your loan balance is less than the payment amount. By using Skip-A-Pay, you are deferring your next regular loan payment. Your loan payment schedule will be extended beyond your original final payment date by one or more months. In addition to the Skip-A-Pay fee, interest and other charges will continue to accrue on the outstanding balance of your loan during the extension period and over the remaining term of the loan until it is paid in full. Any credit life, credit disability, or debt protection insurance you may have, may not be extended beyond the original term of your loan. This means that your credit life, credit disability, or debt protection insurance could expire before you pay off the balance of your account. If the insurance expires before you pay off the balance of your account, the benefits will not extend to any balances remaining after the insurance expires. The remaining terms of your original loan contract remain in effect. You may enclose a check for the fee associated with Skip-A-Pay or have it debited from your checking or savings account at the credit union. If you elect to have the fee debited from any of your accounts and the funds are not available, your Skip-A-Pay will not be processed, and you will be notified of such. Any deposit account you have with the Credit Union must be in good standing to qualify for this offer. All loan accounts must be in good standing and not past due. This offer to skip payments is only valid for payments due in the month of December. Receipt of this letter does not guarantee eligibility. Eligibility will be determined at the time of submission of this form. Mortgages and credit cards do not qualify for this offer. Offer subject to change without notice.