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Year-Round Skip-A-Payment


More breathing room. More control. All year long.                            


Starting this February, we’re extending our popular Skip-A-Payment program to be available all year long—giving you more flexibility whenever you need it. We know life doesn’t always follow a schedule, and a little extra breathing room can make a big difference. Whether you’re managing seasonal expenses, planning ahead, or facing the unexpected, our Year-Round Skip-A-Payment program* is here to support you.


Skip-A-Payment When It Works for You


With Year-Round Skip-A-Payment, eligible members can skip a loan payment when needed, giving you temporary financial relief without long-term stress.

  • February through November: Skip-A-Payment for a $20 fee

  • December and January: Skip-A-Payment fee-free during our Holiday Skip Season

How It Works


  • Available for Auto Loans, Ready Credit, Overdraft Protection, and Personal Loans

  • Your loan must be current and have at least six (6) completed payments

  • Maximum of two (2) skips per calendar year

  • Maximum of six (6) skips over the life of the loan

  • Skipped payments are applied to your current due date

  • Regular payments resume the following month


How to Request a Skip-A-Payment


Requesting is simple and convenient:


Why Members Love Skip-A-Payment

  • Extra cash flow when you need it most

  • Easy phone or in-branch requests

  • Flexible support for life’s unexpected moments

The Year-Round Skip-A-Payment program begins today. Take advantage of added flexibility—whenever you need it.

 


Frequently Asked Questions: 

Yes. You may skip payments on multiple eligible loans. 
Auto Loans, Ready Credit, Overdraft Protection, and Personal Loans with at least six (6) completed payments. 
You may skip any month during the year for a $20 fee. December and January are fee-free.
In-branch and phone requests are typically processed within two (2) business days after signed documentation is received.
Up to two (2) times per year, with a lifetime maximum of six (6) skips per loan.
No. You must make at least one full payment between skipped months. 
We will adjust internal transfers to prevent withdrawal during your skipped month. For external transfers, please contact your other financial institution.


*Colorado Credit Union Skip-A-Payment Program Disclosure and Modification Agreement

This Skip-A-Payment Disclosure and Modification Agreement (“Agreement”) is entered into by and between the Member and Colorado Credit Union (“Credit Union”) for the purpose of modifying the terms of the Member’s loan(s) to allow participation in the Credit Union’s Skip-A-Payment program.

1. Acknowledgment and Agreement to Modify Loan Terms
By participating in the Skip-A-Payment program, the Member requests to defer one or more loan payments as indicated. The Member acknowledges and agrees that: a.) Interest will continue to accrue on the outstanding principal balance during the deferral period, which may result in a higher total finance charge than originally scheduled. b.) The deferral may extend the maturity date and payment terms of the loan(s), potentially increasing the number of payments required to fully repay the loan balance. c.) If the Member elected GAP or Warranty Coverage, such coverage may not extend beyond the original loan maturity date. d.) The Member is required to resume regular payments upon conclusion of the deferral period. e.) If the loan is delinquent, regular credit reporting will continue.

2. Eligibility Requirements
To qualify for the Skip-A-Payment program, the Member must meet the following conditions: a.) A minimum of six (6) consecutive monthly payments must have been made on the loan(s). b.) Payments may not be skipped for two (2) consecutive months. c.) A maximum of two (2) skip-a-payments are permitted per calendar year. d.) A maximum of six (6) skip-a-payments are permitted per life of the loan. e.) All skip-a-payment requests are subject to Credit Union approval.

3. Ineligible Loan Types
Skip-A-Payment is not available for the following loan types: Credit Cards, Mortgages, Home Equity Lines of Credit, Second Mortgages

4. Modification of Loan Documents
This Agreement modifies the terms of the Retail Installment Contract, Loan Agreement and Consumer Credit Disclosure Statement, and/or Credit Line Account Advance Request and Security Agreement solely for the purpose of allowing the Member to participate in the Skip-A-Payment program. All other provisions of the original loan documents remain in full force and effect.

5. Security Interest and Cooperation
The Member agrees to cooperate with the Credit Union and execute any documents necessary to: a.) Document the Skip-A-Payment and loan modification; b.) Preserve and protect the Credit Union’s security interest in the loan collateral for the duration of the extended loan term.

6. Binding Effect
This Agreement shall be binding upon the Member and the Member’s heirs, executors, administrators, personal representatives, and assigns.

7. Severability
If any provision of this Agreement is found to be unenforceable or invalid, the remaining provisions shall remain in full force and effect.