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Skip-a-Payment with Christian Financial

Skip-a-Payment

Need to skip an upcoming loan payment? Eligible CFCU members can request to Skip-a-Payment online for a $35 fee* per loan.

Getting Started Is Easy

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1. Select your eligible loan

Choose the loan payment you’d like to skip.

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2. Choose your skip month

Select the month for the payment you want to skip.

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3. Select your payment account

Choose the account you’d like to use to pay the $35 skip fee.

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Review and agree to the Terms & Conditions

Review the terms before submitting your request.

Need Help?

Have questions about eligibility, fees or how skipping a payment affects your loan?

FAQ's

Frequently Asked Questions

What is Skip-A-Payment?

Skip-A-Payment allows eligible members to skip a scheduled loan payment. The skipped payment is added to the end of the loan, extending the loan’s maturity date. All requests are subject to approval and program eligibility requirements.

How much does Skip-A-Payment cost?

A $35 processing fee per loan is charged each time a Skip-A-Payment is approved. The fee will be added to the loan balance.

Am I eligible for Skip-A-Payment?

To qualify for Skip-A-Payment, your loan must:

Have at least 3 payments made
Be open for at least 90 days
Be current and not past due
Meet all other Skip-A-Payment program requirements

Certain loan types may not be eligible, including commercial loans, real estate loans, lines of credit, credit cards, student loans and other special program loans.

How often can I skip a loan payment?

Members may use Skip-A-Payment up to 3 times within a 12-month period. MI Saves Loans are limited to 1 Skip-A-Payment within a 12-month period. A waiting period may also apply between requests.

Will interest continue to accrue while I skip my payment?

Yes. Interest will continue to accrue on your outstanding loan balance during the skipped payment period. Skipping a payment may also extend the term of your loan.

Do I need to stop my automatic payment?

It depends on how your payment is made. Any automatic transfers initiated by CFCU will be suspended for the month the payment is skipped, provided your Skip-A-Payment request is received at least two business days before your payment due date.

If you have an automatic payment or transfer set up through CFCU Online Banking, you are responsible for stopping it for the month you wish to skip. If you make payments through an external source, such as a bill pay service or another financial institution, you are also responsible for stopping that payment for the month you wish to skip.

When will my payments resume?

Payments will resume in the regularly scheduled amount following the skipped payment and will continue until all principal, interest and other amounts owed under the Loan Agreement have been paid in full.

Will Skip-A-Payment affect my insurance or warranty coverage?

It may. If you have voluntary insurance or warranty coverage associated with your loan, such as Credit Life, Credit Disability, GAP or vehicle warranty coverage, the skipped payment may affect your coverage. You are responsible for contacting the third-party provider to determine whether Skip-A-Payment will affect your coverage.

Can my Skip-A-Payment request be denied?

Yes. All requests are subject to approval. CFCU may deny or revoke a request if an account is in default, eligibility requirements are not met, or other program conditions are not satisfied.

Ready to Skip-A-Payment?

If you’re eligible, you can request your Skip-A-Payment online in just a few steps.

*Loans must be at least 3 months old, have at least 3 payments made, and be current. Members may use Skip-A-Payment up to 3 times within a 12-month period; MI Saves Loans are limited to 1 skip per 12-month period. Certain loans are excluded, including commercial, real estate, line of credit, credit card, student, and other special program loans. Excludes loans written to covered borrowers under the Military Lending Act. Members are responsible for canceling any automatic payments or transfers set up through CFCU Online Banking or an external payment service. CFCU-initiated automatic transfers will be suspended if the request is received at least two business days before the payment due date. Additional notice may be required for weekly or biweekly payments. Contact Christian Financial for full details. View full Skip-A-Payment Terms & Conditions.