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Skip your loan payment this season.

 Skip Your Signature Loan or Line of Credit Payment

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    • Everyone could use a little extra cash throughout the year. That's why we periodically offer you the opportunity to skip a loan payment and use the extra money any way you like! You may skip one loan payment for each eligible loan. Just fill out the form below and click "submit." Or click here for a printable form. If you normally make your payment(s) by check, you won't need to send one for the month you select. If your loan payment is made by payroll deduction, it will be deposited into your primary account where it will be available for withdrawal. This special offer is available for a low $30.00 processing charge.

      Have more than one loan? You can skip as many different loan payments as you like. Sorry, you are not able to skip payments on commercial and business loans, home equity loans, home equity lines of credit, first mortgage loans, business loans, or on loans where fewer than three payments have been made.

      Requests must be received a minimum of five days prior to your loan due date.

    • Personal Information

    • * Daytime Phone Number
      ( ) - ext

    • Verification Information

    • Please answer one of the two questions below


    • Enter your loan number(s) and description for Skip-a-Payment
      (Example: Loan No. 2, Line of Credit)

    • Please take $30 processing fee from my:

    • * I have read the terms and conditions below.

    • Please read this important information: For each eligible loan, you may skip one payment. First mortgage loans, home equity loans, home equity lines of credit, commercial and business loans, and loans where fewer than three payments have been made are NOT eligible for the Skip-A-Payment Program. If approved, your regular monthly payments will resume immediately following the month you indicate on the request form. Loan(s) must be current at time of Skip-a-Payment. By signing the official Skip-A-Payment request form, you authorize Sandia Area Federal Credit Union to do the following, depending on the types(s) of loan payments you request to skip. Skipping payments can affect payment protection and GAP coverage. See your agreement for details.

      VEHICLE AND CONSUMER LOANS - Sandia Area will add the $30 processing charge (per loan) to your principal loan balance and advance your loan due date by one month. This may extend the maturity date of your loan. The $30 processing fee will be added to each loan you choose to Skip-A-Payment on, and when payments resume, the unpaid interest will be collected first.

      CREDIT CARDS, SIGNATURE LOANS OR PERSONAL LINES OF CREDIT - Sandia Area will withdraw $30 from either your Sandia Area savings or checking, or if you prefer, you can include a check in the amount of $30 which must be received prior to the Skip-A-Payment occurring.

      You also acknowledge that this request does not change your legal obligation to the Credit Union, that your agreement with the Credit Union provides for regular monthly payments and the Credit Union is merely informally permitting you to defer payment for the month indicated. Interest will continue to accrue on the unpaid balances during the month you skip your payment. The processing fee is non-refundable and constitutes a Skip-A-Payment request. Payments made through payroll deductions or direct deposit will be deposited into your primary account during the month you choose to Skip-A-Payment and will be subsequently available for withdrawal. For automatic loan payment deductions, this Skip-A-Payment will affect one month of deductions. If you have a recurring Bill Payment set to pay your loan, you must stop that with your Bill Pay provider. The effect of this $30 processing fee will be to increase the Annual Percentage Rate (APR) and finance charges on the balance of your loan. The effective Annual Percentage Rate (APR) and the corresponding finance charge will be disclosed on your periodic statement.

      Sandia Area Federal Credit Union is Federally Insured by NCUA and is an Equal Opportunity, Equal Housing Lender.

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