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!

With Natco, help is here.
Right when you need it.

Whether you need to catch up on bills or deal with a medical emergency, we have a loan solution that can help. With your Natco membership, you can take advantage of loans with lower interest rates and more flexibility than other options. Talk to us today to learn more.

Questions?  Give Us a Call!

(765) 962-2561

» Or Click Here to Apply

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 three (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, line-of-credit 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.

IU Example Wording

  • This Skip-A-Pay request is offered by IU Credit Union on the designated qualifying loan account. By signing, I agree, the Skip-A-Pay request will be processed, subject to the following terms, conditions and limitations:


    • The fee for processing the requested Skip-A-Pay is $25.00. The fee will be collected by debiting the selected checking or savings account associated with the loan.
    • When the Skip-A-Pay request is processed, the next payment due date for the designated loan will be advanced by one month. The monthly loan payment amount will not change.
    • Interest on the designated loan will continue to accrue during the month for which the payment is skipped.
    • Use of the Skip-A-Pay feature will extend the loan maturity date and could increase the final loan payment amount.
    • Use of the Skip-A-Pay feature does not change or alter the existing terms of the loan agreement for the designated loan.
    • Premiums for voluntary insurance or warranty coverage, if applicable, will be assessed as disclosed in the loan agreement during the period for which the payment is skipped. Note: If you have any form of voluntary insurance in connection with the loan on which you seek to skip a payment you should ensure your election to skip does not affect your coverage (examples include but are not limited to: Credit Life and Credit Disability). Some companies that provide these insurance products limit the number of extensions on covered loans, which may include voluntary skip payments. Such products are provided by third party companies and not the Credit Union so you will need to address any questions to those companies and review your policies / contracts.
    • IU 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 below.


    • All member loans with IU Credit Union must be current to qualify for a Skip-A-Pay.
    • A loan type that qualifies for Skip-A-Pay must be open for three (3) months to be eligible.
    • For each eligible loan, a maximum of eight (8) Skip-A-Pay requests can be processed during the life of the loan.
    • 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 two months between skips.
    • Skipped payments processed for loans with Guaranteed Asset Protection (GAP) coverage may reduce future benefits should a claim be filed.
    • If you use an Online Banking transfer to make the payment on a loan selected for Skip-A-Pay, you are responsible for suspending the Online Banking payment transfer for the month in which the payment will be skipped.

Here’s how Natco can help you find the right loan

Personalized attention to ensure the right fit

As with anything else, you deserve to have a loan solution that’s an ideal fit for your budget, your needs and your goals. That’s why Natco provides personal attention to our members who are applying for a personal loan.

Provide the flexibility you need

Unlike loans offered by many other providers, Natco gives you more choices and more flexibility. Choose the FREEDOM FAST Loan when you need cash fast to handle an emergency. Or a line of credit when you need a long-term solution. With Natco, you have options that work for you.

Since Natco offers lower interest rates than many other financial institutions, you’re able to save. That means you’re able to pay back the funds you borrowed with fewer complications — as well as keep more funds in your pocket. At Natco, we believe that’s the way it should be.

Learn more about Natco’s loan options

Need more information about Natco personal loan options? Read our resources to find out more about interest rates, terms and more.