Skip-a-Pay

Life happens, and sometimes you need a little extra flexibility. Our Skip-a-Pay program gives qualified members the option to defer a payment on an eligible loan for a $30 fee per loan. It’s a simple way to free up cash when you’re facing unexpected expenses, adjusting your budget, or working toward your financial goals.

How Does Skip-a-Pay Work?

Need a little breathing room in your budget? Skip-a-Pay makes it easy. For example, if your monthly auto loan payment is $425, you can pay a $30 Skip-a-Pay fee and keep $395 in your pocket this month.

Here’s How:

  • Submit a Request: All signers on the loan must complete and submit a Skip-a-Pay request form to the credit union for approval.

  • Loan Payments: You can skip one payment per qualifying loan and resume regular monthly payments the following month.

  • Eligibility: Loans must be current and new loans require 12 full monthly payments before you can use Skip-a-Pay. Some loans are not eligible for this program.

  • Fee: The $30 processing fee per loan will be deducted from your checking or savings account and can’t be added to the loan balance.

Things to consider before skipping

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Finance Charges

  • While your payment is deferred, interest will continue to accrue according to the terms of your original loan agreement.

  • Skipping a payment will extend your loan term by one month for each skipped payment and will increase the total finance charges paid over the life of the loan.

  • All other terms and conditions of your original loan remain unchanged.

 

Loan Protection

  • If you selected Guaranteed Asset Protection (GAP) with your original loan, coverage may not extend beyond the loan’s original maturity date. Be sure to review your GAP disclosure for details.

  • Mechanical Repair Coverage (MRC) and Less Stress Debt Protection remain unaffected by this program.

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Request a Skip-A-Pay Form

To request a Skip-a-Pay form contact a credit union representative at 610-820-0145 or email callcenter@lvecu.org.

  • Must be a member in good standing and offer is subject to approval. Skip-a-pay forms will be accepted 1/2/2026-1/31/2026 to skip a qualifying loan payment. The $30 processing fee per loan will be deducted from your LVECU checking or savings account. If your loan includes optional Guaranteed Asset Protection (GAP), please refer to those disclosures. GAP may expire on the original loan maturity date and may affect your coverage. Loans not eligible: Mortgages serviced by Midwest Loan Services and State Financial Network, Home Equity Lines of Credit, Personal Lines of Credit, VISA® Credit Cards, Seasonal Loans, Classroom Loans and Better Choice Loans. Other exclusions may apply.