How Does Skip-A-Payment work?
You may use skip-a-payment once per calendar year. For your
convenience, you can choose the month that works best for you. If
you have more than one qualifying loan you may request
to skip a payment on
each loan. To skip your payment:
1. Complete the skip-a-payment
amendment below. or bill pay, you will need to adjust your
payment due date. Please note, both the primary member and co-
borrower/co-signer (if applicable) MUST sign the form.
2. There is a processing fee of $35.00 for each loan payment you
choose to skip. Skip payments not approved will not incur a
processing fee however skip a pay that has already been
processed will not be refunded. Please pay cash or complete the
authorization to deduct the fee from your account.
3. All request forms must be received before the payment is due.
Mail your form and ayment/authorization to:
Twin Rivers FCU
23 Phillips Sweet
Massena, NY 13662
If you are authorizing us to deduct the fees from your account, you
may fax this form to (315) 769-2219.
If you use payroll deduction or automatic transfers for your loan
payment from a Twin Rivers FCU account the funds which would
normally transfer to your loan, will be available for withdrawal.
If your payment normally originates from another financial
institution, contact them to cancel payment for the month you are
choosing to skip. If you use home banking reoccurring transfers or
bill pay, you will need to adjust your payment due date.
Which loans do not qualify?
Mortgage and Home Equity Loans
Delinquent or negative deposit account balances
Loans presently in modified or extension status or that
have been recently modified or extended
Accounts with unpaid fees
VISA Credit Cards
you are not approved for Skip-A-Payment, you will be notified.
Other conditions and restrictions may apply
How does skipping affect finance charges?
On qualifying loans, interest will continue to accrue during the
waived payment period which will result in the term of the loan