We are offering our members the opportunity to skip up to two payments on eligible loan(s).
Skip-A-Pay allows members to skip their December or January payment, or both.
There is a $25 processing fee, per loan, for each month skipped that will be added onto the loan.
Applications must be received prior to the due date of the month you'd like to skip.
Deferring your payment will result in extending the term of your loan.
Members can only skip two payments in a 12 month period.
All skipped payments are added to the end of the loan term; interest continues to accrue during the skip.
Your loan(s) cannot be past due at the time of the request.
If you are requesting an December skip, your November payment must be made before the skip can be processed.
Skipping a payment may reduce the amount of a Guaranteed Asset Protection (GAP) claim. Please refer to your GAP Policy for complete information or call us for details.
Skipping is easy.
1. Check to make sure you have paid the most recent payment on the loan(s) you want to skip.
2. Choose a way to skip a pay
• Skip Online:
1. Log into Online Banking
2. Select Skip-A-Pay under the Services tab
• Skip by Mail:
1. Fill out the form
2. Print and drop it off at a local branch or mail to:
Northeast Credit Union
PO Box 1240
Portsmouth, NH 03802-1240
Skip By Appointment:
1. Using our online appointment scheduler, choose "Existing Member" "General Account Information" as your service offering.
2. Select your local branch and a time to that works best for you.
3. During your appointment, a Member Services Representative will help you set up your Skip-A-Pay.
Things to Remember.
If you mail your completed form to us, you must allow 7 days for postal delivery and processing.
Make sure your payments are up to date so we can process the skip.
Co-borrowers must authorize skipped payments in order for the request to process. They can do this by either signing the form or calling 888.436.1847.
1Certain conditions apply. You must be a member in good standing with all of your loans current in order to participate in Northeast Credit Union’s Skip-A-Payment Program. This program is not available on loans during the first six (6) months of the loan agreement. Loans are limited to two (2) Skip-A-Pay’s per a 12 month cycle. There is a $25 service fee per month to skip each payment on each loan. You may skip one full payment on the following eligible loan types: Auto, Motorcycle, Recreational Vehicle, and Personal Loans. Not offered on Visa, Home Equity, Mortgage, or business loans. Finance charges will continue to accrue on a daily basis at the Annual Percentage Rate (APR) set forth in your loan agreement, both during and after the deferral period. You will, therefore, have to make payment(s) after the loans original payoff date. In all other respects, the provisions of your original agreement will remain in full force and effect. You agree that you will resume making scheduled payments beginning with the payment due during the month following the deferral and will make all scheduled payments due thereafter. Your next monthly payment will include the finance charges from the skipped month. Monthly premium for GAP coverage and Payment Protection will still be added to the loan on the skipped month. Important: If you have set up scheduled or automatic recurring payments on Online Banking or Bill Pay, once you have received approval of your eligibility to skip your next monthly payment, you must personally stop the payment for the month selected and reinstate it once the payment has been skipped. Additional missed payments that result from your having failed to reinstate any automatic payments will be viewed as late.