Skip your loan payment1

When you just need a little extra room in your budget, skipping your next loan payment could be just what you need to get ahead.

Take a break
from your payment

  • Skip up to two payments per calendar year
  • Gain flexibility in your budget
  • Skip your payment in just a few clicks

How it works

In just a few clicks, you can skip your loan payment from Online Banking and our mobile app. If you choose to skip a payment, your current due date will be advanced one month forward, just as if you paid. Interest will continue to accrue on your loan and all terms and conditions will remain the same. A $40 processing fee will be added to your loan balance.

Program eligibility and requirements:

  • You must have an eligible GECU loan. These include: new or used auto loans, motorcycle/ATV/personal watercraft loans, signature loans, personal loans with new or used auto as collateral, personal loans with motorcycle/ATV/personal watercraft as collateral, education loans, or non-titled loans. 
    • The following loan types are not eligible: any real estate loan or line of credit, credit cards, business loans, HELP loans, overdraft loans, RV loans, boat loans, final balloon payments, personal loans with boat or RV as collateral, and our Anytime Line of Credit.
  • You must be in good standing (not delinquent or have a negative balance) on any accounts, including those in which you are a co-signer. Any currently delinquent loan or a loan which has been previously delinquent may be ineligible.
  • The loan must be current or in a grace period. This includes those in which you are a co-signer.
  • You must have completed your first six (6) payments. After six payments have been made, you may skip two (2) payments per calendar year and eight (8) over the life of the loan. 
  • You may submit a Skip-A-Pay request no earlier than 25 days prior to your due date.

Important note on automatic payments: 

You will still need to stop any scheduled payments for the month you plan to skip. This includes: 

  • Payments you have set up within Online Banking or our mobile app. 
  • Payments you have set up at another financial institution, which sends your payment to us each month. 
  • Payments you have set up through a bill pay service (GECU or another financial institution). 

Note: We are unable to reverse these payments.

Skip your payment in our mobile app

                              Web-SkipAPay-MobileScreen.png

 

In our mobile app, follow these four easy steps:

1. Log in and tap More, then tap Skip-A-Pay.

2. Select the loan you want to skip your payment on; if your loan doesn't qualify for a skipped payment, you will be unable to select it.

3. Confirm the date of your skipped payment and see when your next payment will be due. Tap Continue.

5. Accept the $40 processing fee and accept the Terms & Conditions. Tap Finish.

Skip your payment in Online Banking

 

In Online Banking, follow these steps: 

  1. Log in to Online Banking and select Skip-A-Pay under Additional Services.
  2. Select the loan you want to skip your payment on; if your loan doesn't qualify for a skipped payment, you will be unable to select it. 
  3. Confirm the date of your skipped payment and see when your next payment will be due. Click Continue.
  4. Accept the $40 processing fee and accept the Terms & Conditions. Select Finish.

                                    

If you aren't enrolled in Online Banking or our mobile app,2 complete this short enrollment form to get started.

You can use the same credentials to access both platforms.

FAQs

Yes, there is a $40 processing fee which will be automatically added to your loan balance. 

When using Online Banking and our mobile app, you will only have the option to skip your payment on eligible loans. When you submit your request, you'll receive an on-screen confirmation, as well as an email notification.

If you aren't yet enrolled in Online Banking or our mobile app, complete the short enrollment form to get started. 

No, you will need to stop any scheduled payments for the month you are planning to skip. This includes: 

  • Payments you have set up within Online Banking or our mobile app. 
  • Payments you have set up at another financial institution, which sends your payment to us each month. 
  • Payments you have set up through a bill pay service (GECU or at another financial institution). 

Note: We are unable to reverse these payments if you do not cancel your payment.  

If you are unable to access Online Banking or our mobile app, you can use this paper application instead; however, the processing time is 3-5 business days. If the paper application is received outside of your loan payment grace period, it will be denied. 

For questions about our Skip-A-Pay program and loan eligibility, please contact our Loan Operations and Servicing department at: 513.243.4328 or 800.542.7093 or by email at: [email protected].

If you are partially paid for the current month and request to skip a payment, your request will only skip the remaining balance for the current month, not a full payment. 

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