Skipping a loan payment can be helpful during the holidays or when unplanned expenses pop up. SLFCU allows members in good standing to skip payments on auto loans, signature loans, CreditLines, and savings-secured loans twice within a rolling 12 months.
Your payment frequency determines how many payments you will skip with a single Skip-a-Payment request and service fee.
- A monthly schedule will skip a single payment.
- A biweekly* or semimonthly schedule will skip two payments.
- A weekly schedule will skip four payments.*
An advance service fee of $25 will be charged to your checking or savings account. Loan interest will continue to accrue. Requests can be made online at slfcu.org/SkipAPay, or by calling 505.293.0500 or 800.947.5328, and must be received no later than the payment due date.
* NOTE: since several months have five weeks, please be prepared to make your next loan payment on the fifth week.
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