Park Community Credit Union - Skip A Month

Skip a payment.

Sometimes you just need a break, or two.

Life happens. We get it. Unexpected expenses, or even unexpected opportunities, can create the need to redistribute funds so to speak. At Park Community, you get the peace of mind knowing that when life happens, we’re here for you – skip up to two payments a year on qualifying loans!

How to Skip-A-Month

Skipping a month is easy. You can request a skip within Online Banking, the Park mobile app, or by visiting your local branch.

  • Online Banking Instructions:

    • Logon to Online Banking
    • Select Services Tab
    • Select Skip-A-Month
  • Mobile App Instructions

    • Login to the Mobile App
    • Navigate to Loans
    • Select Skip a Month from menu options
  • In-Branch Instructions:

    • Visit your local branch.
    • Let them know you would like to Skip-A-Month.
  • Mail-In
    Instructions:

    • Print the Skip-A-Payment Form.
    • Complete the form.
    • Mail it to the address listed.
  • What else do I need to know?

    You must meet the following conditions in order to qualify:

    • You must make at least 6 monthly payments before requesting to skip a month.
    • You cannot have been more than 30 days delinquent on any loan within the last 12 months.
    • All of your loans, including joint loans, must be current at the time the skipped payment is approved. A loan is considered “current” for this program until the grace period expires.
    • A full month’s worth of payments must be skipped (1 monthly payment, 2 bi-weekly payments, or 4 weekly payments).
    • Before skipping another payment, you must make two month’s worth of regular payments between skips (2 monthly payments, 4 bi-weekly payments, or 8 weekly payments).
    • Only two skips are allowed in a 12-month period.
    • If Park Community is the originator, 3 business days is needed to stop an ACH payment. Otherwise it is the member’s responsibility to contact their financial institution and stop the automatic payment. It will not be rejected by Park Community.
    • You may only choose to skip the next regularly scheduled payment(s), not future payments.
    • There are a maximum of 8 skips for the life of the loan.
    • Mortgage loans and credit cards are not eligible for the skip a month program.
    • GAP and Credit Life & Credit Disability only allow for maturity to extend beyond two payments. Need to disclose the possible termination of contract.
    • The fee is $25.00 per skip, and it can be collected from your account, by check, or paid in cash. If you do the skip through online banking, you must pay the fee from your account.

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