This is a request only. The submission of this form does not mean you have qualified or have been approved for a Skip a Pay. This intake form is only to forward your request for a Skip a Pay to the Frankenmuth Credit Union Member Service Team. A Member Service Representative will review your request and will get in touch with you for approval or denial and/or other member benefit options.
By submitting this Skip a Pay request, you agree to pay the $35.00 application fee.
Request Statement: *
I understand this is a request only and by submitting this I am not guaranteed the Skip a Pay will be applied to my account. Submitting this request means I do agree to pay the $35.00 application fee regardless of my Skip a Pay request outcome. I understand the application fee is non-refundable.
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Not sure what your account/member number is? Ask Carl, our AI Chatbot for help. Use the button below. Ask him: What's my account number.
Not sure if your loan qualifies for Skip a Pay? Read 'What are the Restrictions' below.
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Select *
Yes. I am aware that Skip a Pays can only occur on a loan account twice a year. And that I have not exceeded that twice-a-year requirement.
How Does Skip a Pay Work?
Members can skip a monthly installment loan payment and add it to the end of their loan twice a year. Member must wait 60 days in between skips. A member can take advantage of two skips per year with a maximum of 6 skips over 60 months and an additional 1 skip per additional year for the remainder of the life of the loan.
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Yes. I have read and I understand the above 'How Skip a Pay works'.
How Does Skip a Pay Affect my Loan?
If the loan is covered by payment protection insurance, coverage will terminate under the contract’s original final payment date. If the loan has GAP, skipped payments will not be covered in a GAP claim. The member’s final payment may be larger than their regular payment because of interest that has accrued on the skipped payment.
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Yes. I have read and I understand the above 'How Skip a Pay affects my loan'.
What do I Need to be Considered for Approval:
Must be a member in good standing. Must be a closed-end loan. Open-end loans, including credit cards, are not eligible to skip a payment. Members considered “past due” or “delinquent” greater than five days are not eligible for a skip. Must have made six monthly payments on a new loan prior to getting a payment relief. All documentation with FCU must be current. Must pay $35 non-refundable application fee and current interest that's due.
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Yes. I have read and I understand the above 'Skip a Pay approval considerations'.
What are the Restrictions?
Members considered “past due” or “delinquent” greater than five days are not eligible for a skip. Member may not participate in the FCU payment relief program while the loan is under any modification program (TDR loans are not eligible to participate in the payment relief). Any loan balance $2,100 or less is ineligible to do a payment relief option. Payment Relief does not apply to any Real Estate, Gold MasterCard HE, Prime MasterCard HE, Business, Driving Sense, Wage Relief, TDR, Credit Card, Line of Credit, or BK Auto loans.
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Yes. I have read and I understand the above 'Skip a Pay restrictions'.
Is There a Fee to Skip a Pay?
By submitting this Skip a Pay request, a $35.00 application fee for Skip a Pay will apply. Or, you can redeem 8,000 VIP points for each Skip a Pay completed. Application fee is non-refundable.
Select *
Yes. I have read and I understand the above 'Skip a Pay fees'.
By submitting this Skip a Pay request, you agree to pay the $35.00 application fee. This fee in non-refundable.
This intake form is only to forward your request for a Skip A Pay to the Frankenmuth Credit Union Member Service Team. A Member Service Representative will review your request and will get in touch with you for approval/denial and/or if additional information is needed to process your request.
A Frankenmuth Credit Union Member Service Representative will contact you shortly.
