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Routing #311079270

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Skip a Payment in Benefit of Children's Health

Published November 25, 2022

For a small fee, qualifying members can skip one auto or personal loan payment during the holiday season, benefiting Children’s HealthSM.*  

Until December 31st, qualified members with Neighborhood Credit Union loans can choose to skip a payment on either an auto or personal loan for a fee of $35 or more to Children’s Health. By taking advantage of the Skip-A-Payment program, members can avoid the stress of a monthly payment during the holiday season and focus on gift-buying for loved ones or bulk up their savings!  

How do I request to skip a payment? 

If you qualify, you can request to skip your payment through Online and Mobile Banking, where you see your loan balance. Requests can also be made by mail, email, or in a branch for a small additional fee.

What is the fee for Skip-A-Payment?

If requested through Online and Mobile Banking: A fee of $35.00 or more  
If requested by mail, email, or branch: A fee of $50.00 or more per loan payment skipped.  
The fee cannot be added onto the loan; funds must come from an existing Neighborhood Credit Union account or check.

What are the Qualifications for Skip-A-Payment

To see if you qualify for Skip-A-Payment: 
  • All loans and accounts must be current and in good standing. 
  • Membership savings must have a balance of at least $25.00.
  • Loans must not be past due.
  • May not skip any of the first six (6) monthly payments.
  • Skip-A-Payment application must be received five (5) days before the payment is due.
  • If Skip-A-Payment application is not received by the due date, an extension will be effective the next month. 
  • Maximum of five (5) extensions per loan agreement.
  • Maximum of two (2) Skip-A-Payment transactions are available per rolling 12-month period.
  • Consecutive monthly payments cannot be skipped.
  • Loan payment cannot be skipped within ninety (90) days of the last skipped payment. The fee to skip a payment must be available in an existing Neighborhood Credit Union account; the fee cannot be added to the loan.
  • Member agrees to repay the loan according to terms of the Loan and Security Agreement. 
    On a collateralized loan if GAP has been purchased and upon filing the GAP Claim, the GAP Claim may not cover the skipped payments.

Loan Types that Qualify for Skip-A-Payment

*When a payment is deferred, the finance charges continue to accrue on your outstanding loan balance from the date your last payment was made and extends your repayment period. Otherwise, all terms and conditions of your existing credit or loan agreement continue to apply. The Skip-a-Pay fee must be processed 5 days before due date if payment is deducted from another financial institution in order to be deferred for the month requested. Loan and Accounts cannot be past due and must be in good standing. ($25 min in savings required) Skip-a-Pay does not apply towards Deposit Secured Loans, Quick Cash Loans, Mortgage Loans, Single Payment Loans, Overdraft Loans, Projects Plus Home Loan, or Open-Ended Loans (credit cards/lines of credit/etc.). Other restrictions may apply. May not skip any of the first six (6) monthly payments. Must not have used Skip-a-Pay in the past 90 days. Max of 5 skips per life of loan. Max of 2 skips per calendar year. 100% of monies collected from Skip-a-Pay fees up to $25,000 will be transferred to our Neighborhood Credit Union Foundation for charitable giving to Children's Health and any excess monies will be withheld for future charitable giving or for operational expenditures of Neighborhood CU. 

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Who We Are 

As an active part of the community for 93 years, Neighborhood Credit Union is a not-for-profit financial organization serving the state of Texas with branch locations in Collin, Dallas, Denton, Ellis, and Tarrant counties. With assets topping $1 billion, Neighborhood Credit Union has a continuously growing membership of over 60,000. For more information, call (214) 748-9393 or visit our homepage