Who Is Eligible for Skip-A-Pay
You may be eligible for Skip-A-Pay if you have one of these account types:
- Most installment loans
- RV loans if the original term is 94 months or less
- Deposit Secured loans
- Visa credit cards with a minimum due greater than $29.00
Some accounts are not eligible for Skip-A-Pay, including mortgages, PLOCs, HELOCs, commercial loans, and business Visas.
Most eligible installment loans can skip a payment up to twice per year. The first skip is available after the loan has been open for 6 months. Additional eligibility requirements may apply based on your loan and account status.
How to Skip a Payment in eBranch
If your loan or Visa credit card is eligible, you can request Skip-A-Pay in eBranch.
You can get there in either of these ways:
- Go to Transfer & Pay > Skip a Pay
- Or open the loan and select the Skip-A-Pay quick action icon
If Skip-A-Pay is available for that account, eBranch will guide you through the request. If it is not available, eBranch will let you know and gives you the option to send a message to ICCU.
What to Know Before You Skip
Skip-A-Pay can provide short-term payment flexibility, but it is important to understand how it works before you continue.
- There is a $29 processing fee. The fee is added to your loan balance, but you can make a principal payment to cover it.
- Interest will still accrue. Skipping a payment does not pause interest.
- Your loan term will be extended. The skipped payment is moved to a future due date.
- Skipping a payment through Skip-A-Pay will not affect your credit score.
- Most eligible installment loans can be skipped up to twice per year. The first skip is available after the loan has been open for 6 months.
- You may need to stop an automatic payment. If your payment is set up through eBranch or Quick Payments, you will need to stop that payment for the skipped month.
- If payment has already been made, the skip may apply to the next due date.
- Skip-A-Pay applies to one month at a time.
Not Eligible to Skip a Payment?
Not every loan or credit card qualifies for Skip-A-Pay. If the account is not eligible, eBranch will let you know and give you the option to send a message to ICCU.
If you are looking for another way to stay on track, you can also explore ICCU payment options.
Need Help?
If you need help checking eligibility, using Skip-A-Pay in eBranch, or understanding how a skipped payment affects your account, ICCU can help. If you’re having trouble making a payment or need more financial flexibility, contact ICCU as soon as possible. We’ll work with you to review your options and help you find the best next step for your situation.