Skip a Payment

Everyone has had a time in their life when they could use some extra cash. To do just that, you may skip your qualifying loan payment up to two times per year. You may only skip every six months on each qualifying loan. Every skip a payment is subject to credit union approval.

If you have more than one qualifying loan, you may request a skip twice on each loan per year - six months apart. Example: You skip your loan payment that is due July 15, 2022 - that loan (if eligible) may not be skipped again until January 15, 2023.

Mortgages, HELOCs, VISA Credit Cards and Overdraft Loans do not qualify for skips.

A fee of $25.00 is required for each loan skipped, for each skip. $5.00 of each skip fee is donated to local Food Banks.

The $25.00 will automatically be added to the balance of your loan, to pay this fee by other means, please call us to manually adjust your loan. All credit union qualifications must be met.

Please note, if you have loan payments set up automatically by means other than internal credit union transfers, you will need to make the necessary adjustments to skip the payment.

If you have any questions or need further information on how the Skip a Payment program works, don’t hesitate to contact us.

*Signature required to process Skip-A-Pay request.  By signing, you authorize Great NorthWest FCU to extend your final loan payment by one month. Interest will continue to accrue on your loan(s) during the month the payment is skipped.  GAP insurance payoffs may be affected.  In some cases, skipping a payment may result in negative amortization. Once the form is received by the credit union, please allow 2-3 business days for Skip-A-Pay processing. Great NorthWest FCU will attempt to modify existing automatic payments on loans when able. Upon request, a $25 principal only payment may be made to the loan suffix to pay for the skip payment. Subject to GNWFCU approval.