What is the Skip-A-Pay program?

Seattle Credit Union’s Skip-A-Pay Program allows you to skip up to two monthly payments in a 12 month period on certain loans. Those payments are then added to the end of your loan term. Our skip a payment program does not impact your credit rating.

What loans are eligible for skips?

The Skip-A-Pay Program applies to all Seattle Credit Union loans except mortgages, home equity loans, VISA^® accounts or new loans open for less than six months.

Am I eligible to skip my payment(s)?

To be eligible, your loan must have been open for at least six months and be in good standing. You may not be eligible for other reasons, such as having an overdrawn Seattle Credit Union checking account or any circumstance the credit union deems derogatory related to your account.

Is there a fee?

There is a $29 fee per skip, per loan.

How does participating in the Skip-A-Pay program affect my loan?

The skipped months will be added to the end of your loan, extending the loan term. Interest will continue to accrue during skipped months.

What if I have automatic (ACH) payments, can I participate in the Skip-A-Pay program?

If you have automatic payments from a Seattle Credit Union account, or if we pull your payment automatically from another financial institution, we’ll arrange your skip for the month you selected. Please have your skip request to us at least seven (7) business days prior to your payment date. This gives us time to modify your ACH for the month you’ve requested your skip.

What if I pay my loan through online Bill Pay, can I participate in the Skip-A-Pay program?

Bill Pay is different than automatic (ACH) payments. If you use Seattle Credit Union’s Bill Pay or Bill Pay from any financial institution, you’ll need to log into Bill Pay to stop and restart the payment yourself. Don’t forget to turn it back on after your skip!

How often can I skip a payment?

As long as you continue to be eligible, you may skip any eligible loan up to two times in a 12 month period. Payments cannot be skipped in consecutive months. 

Can I skip a payment at any time?

Yes, you can, but remember that you can only skip on the same loan a maximum of two times per calendar year, and you must wait at least sixty days between skips.

See Eligibility Requirements Printable Skip A Pay form

If you have any further questions about this, call us at 206.398.5500 or send us a message.