In today’s fast-paced world, flexibility in financial management has become increasingly vital. The FCCU Skip-A-Payment form is a testament to such adaptability, offering members of the First Community Credit Union an option to momentarily ease their financial burden. This provision allows members to defer a monthly payment on eligible loans to a later date, granting a temporary reprieve in times of need. Designed with simplicity in mind, the form requires members to select a single month for the skip, adhere to application deadlines, and provide essential loan information alongside their personal details. Eligibility is determined by several criteria, including the type of loan and its current standing, with restrictions on certain loan categories and recent or delinquent skips. For a nominal fee, this service extends the loan's balance while accruing interest during the deferment period, ensuring members are well-informed of the implications. Importantly, participants must manage any external automatic transfers themselves, and those with Guaranteed Asset Protection (GAP) will find that their coverage terms remain unchanged by the payment skip. This program underlines FCCU's commitment to supporting its members through flexible financial solutions, albeit with necessary stipulations to maintain responsible lending practices.
| Question | Answer |
|---|---|
| Form Name | Fccu Skip A Payment Form |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | Dept, fccu skip a payment, extends, waiver |
Select which month you would like your payment(s) skipped (mark one only):
___ January (apply by 12/15)
___ February (apply by 01/15)
___ March (apply by 02/15)
___ April (apply by 03/15)
___ May (apply by 04/15)
___ June (apply by 05/15)
___ July (apply by 06/15)
___ August (apply by 07/15)
___ September (apply by 08/15)
___ October (apply by 09/15)
___ November (apply by 10/15)
___ December (apply by 11/15)
Member Name ___________________________________________
Member Number _________________________________________
Address _________________________________________________
City/State/Zip ____________________________________________
Daytime Phone ___________________________________________
Member Signature ________________________________________
*if applicable. If you have a
Date Requested ___________________________
Complete the information below for each loan payment you wish to skip:
Loan Number _______________ |
Payment $ __________ |
Due Date __________ |
Loan Number _______________ |
Payment $ __________ |
Due Date __________ |
Loan Number _______________ |
Payment $ __________ |
Due Date __________ |
Loan Number _______________ |
Payment $ __________ |
Due Date __________ |
I authorize FCCU to skip my payments on the loans I have listed above. I understand taking advantage of this option extends the current balance of the affected loan(s) by the amount of the payment skipped and interest will accrue on the deferred balance of the loan throughout the deferred payment period. Certain restrictions may apply. Loans skipped within the last 6 months will not be eligible. If you have a delinquent loan, none of your loans will be eligible for this offer. If you have recurring automatic transfers from other financial institutions, it is up to you to stop the transfer if you wish. Other financial institution fees will not be refunded.
By signing and returning this form, you are requesting FCCU to advance the due date equal to one month’s payment on each of your eligible loans which you have listed. You authorize a fee of $5 per skipped loan to be added to the loan(s) listed.
Print, complete and mail to:
Loans not eligible include: Credit Cards, Home Improvement, Home Equity, Home Equity Line of Credit, CD Secured, Share Secured, Stock Secured, Mortgage, Driving Advantage, Single Payment, Guaranteed Holiday Loan, Teacher Appreciation Loan, Hungry Loan, Zero Percent Loans and loans less than six months old.
For members who have Guaranteed Asset Protection (GAP), claim coverage does not extend to the amount of payment deferred. Also, you agree that by skipping your payment, your original GAP waiver election remains in effect. We reserve the right to decline any request.
CU USE ONLY
Date Received ____________ Teller #/Initials _____________ Date Processed _____________