TAKE A BREAK & SKIP A PAY
2020 has been a very challenging year—Everyone deserves a break! Take a break from your December loan payment. Our Skip-A-Pay can be just what you need to get you through the holiday season.
Do you have more than one loan? The more the Merrier! You can skip one payment on each of your consumer loans at the Credit Union (Sorry VISA credit cards and home equity loans are not eligible for the Skip-A-Pay program). A service fee of $25 will be charged per loan skipped. To qualify for the Skip-A-Pay program:
  • You must be in good standing
  • All your loans at the Credit Union must be current
  • Your loan must be at least six months old
  • Your loan must have received at least four successful payments
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VISA credit card and Home Equity Loan accounts are not eligible for this program
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By submitting this Skip-A-Pay request, you authorize Cal Poly Federal Credit Union to advance your loan due date by one month and understand that this will extend the maturity date of your loan. A $25 processing fee will be deducted from your share draft or share account for each loan you choose to skip a payment. Interest will continue to accrue on the unpaid balance during the month you skip your payment, and when payments resume the following month, the unpaid interest will be collected first. Members must be in good standing and all loans current to participate. A loan must be at least six months old (four payments applied) to qualify. CPFCU reserves the right to refuse any skip-a-payment request. Payments made through payroll deduction or direct deposit will be transferred to your primary savings account in December and will be subsequently available for withdrawal. ACH payments will be suspended and will remain in the account at your other financial institution for December.
Thank You. We will be in touch with any further questions!