You don't want to make a loan payment this month? We're OK with that.
Life can be unpredictable. A major expense can come out of the blue. A memorable trip can cost more than you had planned. Or an expected payment from your side hustle might be delayed. At Integra First, we get it. Sometimes, you need some financial breathing room. That's why we allow our members skip a loan payment under certain circumstances. Here's how it works:
- There's a $25 fee for skipped payments
- To request a skipped payment, members should log into Online Banking
- Under the "Services" tab, select "Skip-A-Pay" by clicking the "Continue" button next to it
- Follow the remaining prompts to complete the process and have the $25 fee deducted from your savings or checking account
Important Info
- Automatic payments associated with the loan are not stopped through the Skip-A-Pay process and are the member’s responsibility to stop and start
- Members may skip a maximum of two loan payments per year per loan
- Skip-A-Pays must be at least two months apart
- Loans must be open for at least six months in order to be eligible
- Current and/or recent loan delinquency will affect eligibility for Skip-A-Pay
- Skip-A-Pay is not available for Visa credit cards, mortgages, and home equity
- Utilizing Skip-A-Pay may affect Guaranteed Asset Protection (GAP) products
- Skip-A-Pay may increase the last payment on loans with Life and Disability insurance
Impact on Your Loan
- Choosing to Skip-A-Pay will advance the due date of your loan by one month and will carry your current balance (including the skipped payment) forward
- Using Skip-A-Pay may extend the term of your loan
- Interest will continue to accrue on your loan balance throughout the skipped payment period
- Your regular payments will resume the following month
Integra First Federal Credit Union is a full-service financial institution serving select counties in Michigan’s Upper Peninsula and Northeast Wisconsin.