For a limited time, save $20 on each skip!

We have temporarily marked this service down from $50 to $30.

Loan Flexibility at ACU

Life's a series of ups and downs; it's a series of changes, events and, often times, simply the unexpected. Flexibility helps!

Multiple Borrower Skip Formskip form one borrower

pdf version of skip pay form


While it is certainly best not to overdo it, you can count on having a bit of flexibility when you need it! Feel free to skip a loan payment whenever you need it (an absolute maximum of 4 times per year). However, you can only skip one payment at a time. For example, if you skip May's payment, you have to make June's payment in full. Please also note that interest will continue to accrue during your skipped payment period.


Submit a skip pay form here or download a print version. Please note, all borrowers must sign. If you have co-borrowers, please use the "multiple borrower form" above. If you are the sole borrower, the "single signer form" is the way to go. Additionally, if you submit through DocuSign's power forms, please note a representative will be calling to verify and confirm your details. If you are printing a form, simply sign the PDF form below and return it to us (fax and email are ok!) Fax: 303-740-7164. Email: CommunicationsCenter@Arapahoecu.org


Details

For those that have never skipped a payment with us, you are allowed to choose one (1) month to skip for each form. However, you cannot skip two consecutive months. So, for example, you could skip February's payment as long as you already paid January and plan to pay in March. You could then skip again in April if you need to. All personal loans and vehicle loans are eligible, but we are unable to skip real-estate loans or revolving loans like credit cards. Please note there is a $50 administrative skip-a-payment fee per each requested loan. The completed skip-a-payment form and fee must be submitted to the credit union at least five days prior to the loan due date, and your membership must be in good standing. Certain loans, most notably those designated as an "L8 or L10" are subject to additional processing and require management approval in all cases. This can slow processing or result in rejection in some cases. Please note: Multiple skips can result in voiding your current GAP warranty. Additionally, interest will still accrue during your chosen skip period.

On approval, we simply put your loan back a month and you don't have to worry about that payment. Click the above buttons for more information as well as any additional restrictions.

Please note, while we may, in some cases, have some flexibility, it is very rarely a good idea to skip more than 4 payments in a year. This will cause your loan term to be extended and may not be the best course of action. As such, most members will be limited to 3 or 4 depending on the situation. We reserve the right to not approve a skip-a-payment request at our sole discretion. If you elected a first payment default of 90 days on your loan, you may not qualify for a skip-a-pay for the first twelve months.

Through December 31st, 2020, ACU will discount each skip payment administrative fee by $20 to a total of $30. Offer is subject to change, including cancellation, at ACU's sole discretion at any time and without notice.

new loan applicationopen new membership online

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