Skip-a-Pay is now available year-round.
Life doesn’t always stick to a schedule.
Maybe it’s higher gas prices. Maybe it’s back-to-school expenses, holiday spending, home repairs, or something completely unexpected. Whatever life brings your way, Skip-a-Pay gives eligible borrowers the flexibility to skip a payment when it makes sense for them.
Because financial needs don’t always happen at the same time for everyone.
How it works
Eligible borrowers* may skip up to two payments within a 12-month period beginning with their first approved skip.
To qualify:
- At least three payments must be made between skips.
- New loans must have at least six payments made before becoming eligible.
- Borrowers must be current on their loan at the time of the request.
- A $25 fee applies to each skipped loan payment.
- There is no fee to skip an eligible credit card payment.
If your payment is set up as an automatic payment, please submit your request at least five (5) days before your due date.
How to request a skip
Requesting Skip-a-Pay is easy.
- Log in to online banking or the Corda mobile app.
- Select Services.
- Choose Skip-a-Pay.
- Follow the prompts to submit your request.
Requests are typically processed within two business days.
Not a Corda member yet? You may still be able to skip a payment!
If your vehicle loan is through Corda Credit Union but you are not yet a member, enroll in online banking first, then follow the same steps above and select ACH Direct when prompted.
Loans Not Eligible
The following loan types are not eligible:
- First mortgages
- Home equity lines of credit
- Certain second mortgages
- Commercial loans
- Loans more than 30 days past due
- Additional restrictions may apply
Disclosures
*Borrower must be at least 18 years old. If a loan has a co-borrower, consent from the co-borrower is required to skip the payment. Eligible borrowers may skip up to two payments within a 12-month period beginning with their first approved skip and must make at least three payments between skips. New loans must have at least six payments made before becoming eligible. Borrowers must be current on their loan at the time of request. First mortgages, home equity lines of credit, certain second mortgages, commercial loans, and loans more than 30 days past due are not eligible. A $25 fee applies to each skipped loan payment. No fee applies to eligible credit card payment skips. Corda Credit Union is not responsible for updating automatic payments made through third-party services, including bill pay providers. All Skip-a-Pay requests are subject to approval. GAP and other ancillary products may not cover skipped payments. Refer to your product contract(s) for details. A skipped credit card payment applies only to the next payment due. Regular payments will resume the following billing cycle.
