Take a break from your loan payment

Give your budget a break and take advantage of our skip-a-pay program! You can skip your loan payment for a fee of $25 per qualified loan.*

You can breathe easier knowing that you can free up some money without it damaging your credit. You even have the option to skip multiple loans such as your auto loans, personal loans, boat loans, and more!

Get relief by skipping your loan payment

We understand things come up and make it hard to pay your monthly payments. Our Skip-A-Pay program extends relief twice a year to qualified members. But we’ve recognized that some members need relief at a different time of the year.

We make it easy for qualified members to skip a loan payment.

  • Members with a valid email on file and qualified loans will receive a Skip-A-Pay offer by email in October and May.
  • The email contains a link to electronically authorize the skip and designate the month to skip.
  • If there is a co-borrower on the loan, they will receive an email which allows them to electronically sign too.
  • Members who do not have a valid email on file will receive a postcard in the mail.
  • The card can be filled out and brought or mailed to one of our offices for processing. (all borrowers will need to sign the card prior to returning it)
  • The $25 fee per loan will be collected prior to processing the skip.

If you need to free up funds during a different time of the year, give us a call to see if your loan qualifies for a skip.

Want to talk with a loan expert to see if you qualify for a skip?  Give Us a Call!

(765) 962-2561

Skip-A-Pay is a program that extends offers to skip eligible loan payments on qualifying accounts. There is a $25 fee for each loan payment skipped. Your loan payment date will advance and you will continue to accrue interest.

The offer is extended twice per year (winter and summer), however, qualified members can skip a payment during a different time of the year.

  • Skip-A-Pays are offered on vehicle and closed-end personal loans that have been opened for at least six (6) months
  • Loans must be current to qualify
  • Loan balance cannot exceed $60,000
  • Original loan term cannot exceed 84 months
  • Five consecutive contractual payments must be made between two skips
  • If the Skip-A-Pay fee of $25 is not available in one of your share accounts on the same account number, you will not be eligible
  • Home equity loans, mortgages, single payment loans, and credit cards do not qualify for the skip-a-pay program
  • During the winter offer, qualified members can skip their December or January payment.
  • During the summer offer, qualified members can skip their July or August payment.
  • A skip can be requested during a different time of the year by contacting our office to determine eliqibility.
  • For each eligible loan, no more than two (2) Skip-A-Pay requests will be processed during any 12 month period, with a minimum of  five months between skips.
  • The fee for processing the requested Skip-A-Pay is $25 per loan.
  • The fee can be deducted from the Natco account or cash/check provided with the request.
  • The fee must be collected prior to the skip.

All requests to skip a payment must be approved by the loan department. By signing, you agree to amend the terms of your original agreement and to repay the entire unpaid balance and accrued interest.

a. Interest continues to accrue on the unpaid balance.
b. The next regular payment is due after skipping one payment.
c. Skipping a monthly payment may result in extending the original term greater than one month
d. Skipped payments processed for loans with Guaranteed Asset Protection (GAP) coverage may reduce future benefits should a claim be filed.
e. A late payment fee and a skip-a-payment fee cannot be applied in the same month
f. Natco Credit Union reserves the right to revoke or suspend the processing of this request if, prior to processing, the designated loan or related share accounts fail to meet the specified conditions or limitations of its Skip A Pay Policy.

To be eligible, all credit union accounts must be in good standing. Loans with a non-monthly payment frequency will be calculated to skip approximately 28 days.