Skip-a-Payment Program
The Resource One Skip-a-Payment Program* gives you an opportunity to take a break from paying one of your loan payments. You may use two (2) skip-a-payment’s per year with a maximum of five (5) skip-a-payment’s for the life of your loan.
Your loan must be current and you must sign and submit a Skip-a-Payment form to any of our Service Center Specialists. Each skip-a-payment will have a fee of $40.00. The fee will be collected as part of your deferred payment, so there are no out-of-pocket costs!
The Skip-a-Payment form is located here. You may also visit one of our service centers or call our remote service center and speak to a telephone service representative for assistance.
*By submitting the Skip-A-Payment Application to Resource One Credit Union, I am requesting that my monthly payment be deferred. I understand that my monthly loan payment may be deferred if it is not one of the first six monthly payments due on my loan, during two consecutive months, more than twice in one year with a maximum of five over the life of the loan, or I am not otherwise in default. Excludes mortgage, Home Improvement Loans, Line of Credit Loans, and Balloon Notes. I understand that by taking advantage of this skip-a-payment coupon my loan will be extended for each skip-a-payment granted. I understand that the interest will continue to accrue on my unpaid balance and that my $40.00 fee will be collected as part of my deferred payment. I further understand that this request does not change my legal obligation to the Credit Union, that my loan agreement with the Credit Union provided for regular monthly payments, and that the Credit Union is informally permitting me to defer the monthly loan payment.
Note: If your loan is paid weekly, bi-weekly, or bi-monthly, the agreement will allow you an extension for an entire month of payments.
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