A loan payment is a long-term commitment. Over the course of even a short loan, unforeseen circumstances can pop up which leave you in a financial bind. When that happens and you have the choice between fixing the pipe flooding your basement with gallons of water or paying your auto loan payment, what are you going to do?
If you have a loan with Seattle Metropolitan Credit Union, you have options. Most Seattle Metropolitan loans come with Anytime Skip-A-Pay, a program that allows you to skip a payment on your eligible Seattle Metropolitan loan as often as twice every twelve months with the payment of a nominal $29 per loan processing fee.
Seattle Metropolitan’s Anytime Skip-A-Pay program allows you the flexibility to react to situations where you could use a bit more cash in a given month for emergencies, vacations, or other times when you have higher-than-normal expenses. The Anytime Skip-A-Pay program lets you take control of your finances and create some peace of mind during potentially stressful times.
Log into Online Banking and complete the Skip-A-Pay form in Secure Forms.
Speak to a branch rep who will have you complete and sign a Skip-A-Pay form.
Print and send the Skip-A-Pay request form to the address listed on the form.
Seattle Metropolitan’s Anytime Skip-A-Pay is another great reason to get your next loan with Seattle Metropolitan Credit Union. You can apply online, by phone, or in person at any Seattle Metropolitan branch.
If you have questions about the Anytime Skip-A-Pay program or any Seattle Metropolitan loan, please call our loan experts at 800-334-2489.
ELIGIBILITY REQUIREMENTS AND DISCLOSURES
1. The loan must have been open for at least six months.
2. The loan cannot be more than 11 days past due at the time the skip-a-pay request is made.
3. Payments cannot be skipped in consecutive months and cannot be skipped more than twice in any twelve-month period.
4. Mortgages, home-equity loans, and VISA® credit cards (including share-secured credit cards) are not eligible.
5. Seattle Metropolitan reserves the right to decline a Skip-A-Pay request due to poor payment performance or any other circumstance we deem derogatory related to a member’s account(s).
6. Interest continues to accrue on skipped payments based on the outstanding principal balance. This may result in a reduction in the amount of principal paid by subsequent payments.
7. Any credit life, disability, debt protection, and/or GAP coverage on a given loan may not extend beyond the original maturity date.