An AUCU representative will contact you within 24-48 business hours to process the paperwork for your skip(s) and collect your processing fee of $35 per skip. If you are not contacted within 48 business hours, please email us at memberservices@myaucu.com.
If this is a joint loan or if you have a co-signer on your loan, we will also need that person's signature.
Your application must be received and approved, and the $35 skip fee per loan must be paid before the 10-day grace period ends.
*This is an application only. Please do not cancel payment until you have received written or verbal confirmation from AUCU that your skip has been processed.
Terms and Conditions
This is an application only. Please do not cancel payment until you have received written or verbal confirmation from AUCU that your skip has been processed.
EXCLUSIONS - The following loan types are NOT eligible for the Skip-A-Pay program: Mortgage Loans, Home Equity Lines of Credit, Lines of Credit, Overdraft Protection Loans, Credit Cards, and loans that are paid ahead. All Skip-A-Payment requests must be received within the grace period of the loan payment due date, no later than 10 days late, and all accounts and loans must be in good standing.
CONDITIONS - To be eligible for the Skip-A-Pay program, you must have made at least 3 payments on your loan and not skipped or deferred your loan more than twice in a rolling calendar year. A $35.00 skip fee for each loan skipped will be due when the skip is requested. You may skip November or December not both. Skip applications may be submitted online at MyAUCU.org/skip-a-pay/ , in person, by mail, over the phone, or via email at MemberServices@MyAUCU.org. Loan skip eligibility is not guaranteed with a letter receipt. Your loan will be evaluated when the skip is requested; if conditions have changed, you may not be eligible. Please do not discontinue loan payment until you have written or verbal confirmation from AUCU that your skip has been approved and processed.
AUTOMATIC PAYMENTS - Automatic payroll deduction and direct deposit payments will not be discontinued; however, the funds will be applied to the share/savings account. Members are responsible for discontinuing any scheduled payment(s) on online banking for the month they have signed up to skip.If you defer a payment, the total finance charge you pay on your loan will be greater than what is stated on your loan contract because you are not paying the principal for the month you defer. This, and any other previous or future deferments, will extend the term of your loan and require additional payments to pay off the loan. Credit insurance premiums (if applicable) and interest will continue to accrue during the waived payment period, and the loan maturity date will be extended. If you have elected to have Credit Life, Credit Disability, or GAP, your coverage may not cover the entire term.
AUCU is an equal opportunity lender.
