Addition Financial | Skip A Pay

Participants may use no more than 2 Skip-a-Pays per eligible loan in a rolling 12 month period. Participants must complete an on-line submission. A fee of $15 is assessed for each Skip-a-Pay approved. $15 fee will be debited from your share or share draft account. Funds must be available in the share or share draft account for ALL eligible loans. The $15 fee must be in your account 48 hours prior to application Participants may use regular Skip-A-Pay 6 times over the life of the loan All accounts must be in good standing. Your loan interest will continue to accrue, and skip-a-pay will extend the loan term. (No delinquent loans or overdrawn accounts.)

All loans must be current for a minimum of 24 hours prior to applying for a Skip-A-Pay. Loans may not be more than 60 days paid ahead, and must be at least 90 days old to qualify. Skip request must be entered a minimum of 2 days prior to the due date of the loan.

For an automobile loan to qualify for Skip-A-Pay, the Credit Union must have a valid first lien on the subject automobile as evidence by title showing the Credit Union as lien holder and the Credit Union must have received proof of current insurance satisfactory to the Credit Union. Please contact your Guaranteed Asset Protection (GAP) provider to determine how Skip-A-Pay may affect coverage.

If the loan is set up with recurring ACH, payroll or auto-transfer payments, participants agree that the Credit Union will suspend payment for the month of the approved skipped payment and to reinstate such payments for subsequent payments. Automatic payments that are processed through external sources (ie. another financial institution) and/or initiated by the member (ie. bill pay) will not be suspended by the Credit Union and must be suspended by the member.

Mortgage loans, Home Equity loans, Home Equity Lines of Credit, Holiday Loans, Extra Credit Loans, Extra Credit at Work Loans, Credit Cards, Consumer Lines of Credit, and commercial loans do not qualify for the Skip-A-Pay program. Loans that have had a Loan Modification with Member Solutions will not qualify for Skip a Payment until 6 months after the modification ends.

*To be eligible for this offer, all Credit Union loans and accounts must be in good standing. Mortgage loans, Home Equity loans, Home Equity lines of credit, Holiday loans, Extra Credit Loans, Extra Credit at Work Loans, Work Perk Loans, Consumer lines of credit, credit cards, and commercial loans are not eligible. If you have requested a skip for an ineligible loan account, such loan will not be part of any Credit Union approval of any other loan(s). Loans must be at least 90 days old and may not be past due or more than 60 days paid ahead to be eligible. Skip-a-Pay program is subject to change without notice.