Skip a Payment

Go ahead and take a break from your loan payment.

Maybe it's the holiday season. Or vacation time. Whenever additional expenses create a cash crunch, one thing that can help is to skip one of your P1FCU loan payments. By following a simple process and paying a small fee, you can buy some financial breathing space.

  • Qualified borrowers may skip up to two payments each calendar year, and up to a maximum of six payments during the life of the loan.
  • Signature loans, auto loans, boat, RV and personal property loans are eligible for the program as long as the payment amount is over $25. (Home equity, mortgages, and business loans are not eligible.
 
There is a $25 fee for each skipped payment. The funds will need to be in a P1FCU account to be collected at the time the skip is processed

Skip Payment Procedures

  1. Login to Digital Banking
  2. Select Skip a Pay from the Transactions tab in the Menu
  3. If your loan appears from the list of options, it is eligible. 
  4. Select the loan you would like to skip. 
  5. Confirm your new due dates
  6. Select the account you would like to pay the $25 skip fee from
  7. Agree to the Terms and Conditions.
  8. Click Finish.
 

Have Questions? We've Got Answers!

Whether you are looking for more information on skipping a payment, or are curious about membership, loans, or digital banking, our FAQs have you covered. They're a quick, easy way to find what you need when you need it.