Sometimes you can just use a little extra cash...
Maybe you have unexpected repairs? Vacation plans? Holiday expenses? Whatever it is...we may be able to help!
That's right! With Missouri Valley FCU Skip-A-Payment members may skip an eligible MOVFCU loan payment.
- Skip an eligible loan payment up to 2 times per rolling 12-month period - not to exceed 8 skips per loan.1
- Skipping a payment won’t hurt your credit report!
- Qualified consumer loans are eligible.
- $25 processing fee per loan, per request.
Skip-A-Pay Frequently Asked Questions
Can I add the $25 Skip-a-Payment fee to the balance of my loan?
No, the $25 must be collected at the time you apply to Skip-a-Payment. If the funds are not available in your MOVFCU member account, please be sure to complete the payment details in the Skip-A-Payment request below or contact a team member by phone or email: [email protected]
Please note: Skip-A-Pay requests will not be processed until the service charge has been received.
- Payment by phone: Simply call us during business hours to schedule the payment using your card with another Financial Institution.
- Bill Pay: Using Bill Pay with another Financial Institution? Set MOVFCU up as a payee. They may also offer P2P, if so you may be able to add the funds to your MOVFCU Savings.
- Branching: You are welcome to drop the payment by our branch or visit a Shared Branch location if you prefer. To learn more about Shared Branching, click HERE.
When must I apply to skip next month’s payment?
The loan payment should be current. We recommend applying at least 10 days before the scheduled payment due date.
Can I skip two months in a row?
Though you can skip two months per rolling 12-month period, you cannot skip two consecutive months.
When can I skip my first payment?
You must have had the loan open and made at least one (1) loan payment. Additionally, the loan must be in a "current" status, not more than fifteen (15) days past your payment due date.*
What if I have set up an automatic payment?
Automatic payment is a great way to pay! However, when taking advantage of our Loan Skip-a-Pay, it’s important to make preparations if you have an automatic payment set up:
- If the transfer is an internal transfer from a MOVFCU account, your loan payment due date will be advanced automatically by our processor.
- If you make your loan payment automatically from another institution, thru recurring payments or Bill Pay, you will need to update your payments details once you have received confirmation that your MOVFCU Skip-A-Pay request has been approved and processed.
- If you have authorized MOVFCU to initiate withdrawals from another financial institution, you then automatically authorize MOVFCU to suspend the transfer for one month when applying for Skip-a-Payment.
Will my loan still accrue interest when I skip a payment?
Yes, interest will continue to accrue regardless of the skipped payment.
Stay up to date...
What's better than a newsletter, website alert, or email? Quick text updates from your favorite Credit Union pals.
Stay in the know about special offers & promotions, including our Skip-A-Pay program by enrolling into our text alerts.
Simply text MOVFCU to 74994 to begin receiving text alerts!
We promise not to bug you too much. When you opt-in to receive text messages from us, we'll only send relevant & valuable information to you. But if at any time you decide to no longer receive these type of text message updates, simply text/reply STOP and we will remove you from any further communications. Need assistance? Text/reply HELP.
Ready to take advantage of our Loan Skip-A-Pay?
Fill out the request form below and a MOVFCU team member will be in touch within one business day with next steps:
Questions? Please contact a Credit Union represenative by phone or email: [email protected].
If the Skip-A-Pay processing fee is not available in your Missouri Valley FCU member account, a team member will be reaching out to discuss payment options. Please note, your SKIP request will not be processed until the fee has been received.
*Disclosure: The skipped payment will be added to the end of the loan, thereby extending the term of your loan. Finance charges will continue to accrue during the skipped period. If you purchased GAP (Guaranteed Asset Protection) on your loan, coverage may be affected by skipping a payment. Payments made via payroll deduction or direct deposit will be placed in your share savings account. If your payment is made via automatic transfer from your account, the payment will not be taken. Please stop any recurring payments you have created through ACH or Bill Pay with another institution if you wish to not have the funds placed in your share savings account. All borrowers on the loan agreement must sign or the request will not be honored. Real estate loans, Next step plan's and Lines of Credit are not eligible. A fee of $25.00 per loan, per request applies. Loans must be current, and your account must be in good standing. One request per skipped loan. You may not participate in the promotion if you have not made your first loan payment on a new loan. Loans originated after May 1, 2016 may not complete more than eight (8) skips during the life of the loan. Only two (2) skips are allowed per calendar year and may not be consecutive. Other payment deferments completed in the last 12 months may make you ineligible for this promotion. All Skip-A-Pay's are subject to credit union approval.
Additional restrictions may apply.