Give to your community when you give yourself a break...
Catch your breath on your next qualifying loan payment with our Skip-a-Pay program and give back to your community all at the same time!
CSCU is supporting the Boys & Girls Club of Walker County with our Holiday Skip-a-Pay program. Qualifying members may skip one or two payments during November, December, or January for a fee of $25 for each month skipped. 100% of the fee profits will be donated to the Boys & Girls Club of Walker County.
Consider this opportunity to give back while you get ahead on your holiday shopping or bills with a skip.
Important Note
Skip Reminder for Auto Loans
If you plan to skip payments on an auto loan, please check with your GAP insurance carrier to determine how Skip-a-Pay may affect your coverage.
Frequently Asked Questions
Does skipping a payment hurt my credit?
Payment history on loans and credit cards highly influences credit scores. This puts you at significant risk of hurting your score if you miss a payment without your lender’s permission. Skip-a-Pay allows you to skip without influencing your credit score.
Is skip a payment worth it?
The main drawback is that a skip is not a long-term solution. It can give you room to breathe while you use your money elsewhere; safely avoiding the negative impacts of missing a payment on your loan account and also your credit score. However interest will continue to accrue during the skipped month. Skipping payments can extend the life of loan and increase the overall interest paid.
What is a skip-a-pay fee?
Most financial institutions charge a small fee to process a payment skip. At CSCU, it’s a $25 fee for each payment that is skipped.
In 2022, we began the tradition of donating all skip fees from the holiday season (November, December, and January) to the Boys and Girls Club of Walker county. We love this as it allows us to help our members financially during the holidays, while also giving back to our community.
How many times can I skip a payment?
You can skip one payment per loan every 12 months on qualified loans, subject to approval.
*Skipping loan payments will extend the term of the loan(s) and interest will accrue on the deferred balance of the loan(s) throughout the deferred payment period. Except for the skipped payment and the resulting change to the payment schedule, all other payment terms of your Loan Agreement/Promissory Note remain unchanged and in full force and effect. All loans must have a minimum of twelve (12) months payment history to be eligible for the Skip-a-Payment program. Outside of special promotions, Skip-a-Payments are limited to one (1) skip per loan in any twelve (12) month period, subject to approval. All of your accounts at CSCU must be current with no collection action pending. Any credit life and/or disability insurance on the loan may extend protection beyond the original maturity date of the loan(s). For auto loan payments, please check with your GAP insurance carrier to determine how Skip-a-Payment may affect your coverage. Refer to the account and loan disclosures agreements. Contact us at 936-295-3980 or stop by a location close to you for any questions you may have.