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Skip-A-Payment

NAECU is offering eligible members the opportunity to apply to SKIP-A-PAYMENT on eligible loans. There is a maximum allowance of two loan payment skips annually. (Other restrictions and exclusions do apply). A SEPARATE REQUEST MUST BE SUBMITTED FOR EACH LOAN. Member will be contacted regarding their SKIP-A-PAYMENT request within 1 business day of receipt.

Loans and Terms Excluded from this Special Offer:

Mortgage Loans, Overdraft Protection Loans, and School Supply Loans are not eligible for Skip-A-Payment.
Single (1) payment loans are not eligible for this Skip-A-Payment.
At least 2 consecutive monthly payments must have been made on newly acquired loans to be eligible for the skip.
Loan balance must be $500 or more.
Payment must be $100 or more.
The member’s account must be in good standing with the credit union to be eligible.
NAECU reserves the right to deny a SKIP request if prior loan modifications have taken place during the past year.
All requests are subject to approval or denial based upon the loan status/history.

Skip-A-Payment Authorization Form

INFORMATION BELOW MUST BE COMPLETED FOR THIS REQUEST TO BE PROCESSED.

Month to Skip

Of Year

Account Number

Loan Number

Secured By

Payment Amount

Next Payment Due Date

Loan Payment Method Used

I understand that this payment skip will extend the maturity date that was disclosed on the original loan documents. The interest charges will continue to accrue from the last payment date. All borrowers, co-makers and/or guarantors must sign this form. I understand that a processing fee of $35.00 will be added to my loan balance for this service. If you have GAP Protection, any amount of the loan that is skipped may not be covered under the GAP Protection.

Member Name

Co-Maker Name

Member Signature

Co-Maker Signature

Daytime Phone #