Neighborhood Credit Union


Neighborhood Credit Union offers qualifying members the opportunity to skip one loan payment for qualifying loans.

Wouldn’t you like to skip one of your payments and use that money for something else? Luckily you can! Our Skip-A-Payment program allows you to defer one of your monthly payments and use that cash to take a vacation, buy school supplies, take care of an emergency, or anything else you want.

How does it work?

By skipping a payment, you are adding it to the end of the loan which could extend the term or maturity. Keep in mind it will still be accruing daily interest at the determined rate, and if your next payment does not cover the interest accrued, it will be taken out of each payment until satisfied. Skipped payments are processed for a period of one month at a time. (Ex: Two biweekly, two semi-monthly, or four weekly.)

What loans are included?

Auto loans
Signature loans
Recreational vehicle loans

How do I qualify?

Qualifications to extend one monthly, two biweekly, two semi-monthly, or four weekly payments include:

  • All Loans and Accounts must be current and in good standing.
  • Membership savings must have a balance of at least $25.00.
  • Loan 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, 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 CU 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.

How much does it cost?

  • Requests through Online and Mobile Banking: $35.00 Skip A Payment fee per loan payment skipped.
  • Requests made by mail, by phone or in branch: $50.00 Skip A Payment fee per loan payment skipped.
  • The fee cannot be added onto the loan, funds must come from an existing Neighborhood CU account or cash (in branch only).

See Skip-A-Payment Terms and Conditions