Skip a Payment service

This Oregon State Credit Union service enables you to skip a payment on a qualifying loan so you can take steps to get back on budget when cash is short and expenses rise. Circumstances may include:

  • Unexpected expenses relating to your health, taxes, or education

  • Reduced income from job loss or reduction in salary or hours

There is a $25 fee for Skip a Payment, which will either be added to the balance of your loan or debited from your selected saving account.

Apply for up to two skip payments within a 12-month period for any qualified loan.

Skip a Payment | Apply now

Skip a Payment Qualifications

  • All share accounts are in good standing.

  • All loans are in good standing.

  • A minimum of 12 months of loan payment history.

    • If you have an automatic transfer (ACH) scheduled for your loan payment, please make your request at least three business day prior to the transfer date to help ensure your payment will not be processed.

    • If you have Guaranteed Asset Protection (GAP) insurance on a vehicle loan it is important to review your policy terms to ensure you understand of how payment skips may affect your coverage.

 

Loans that qualify for Skip a Payment

  • Vehicle secured

  • Personal

  • Visa Value/Rewards (Must be submitted within the month of your due date)

  • PLOC (Must be submitted within the month of your due date)

  • Workout loan

 

Loans not eligible for Skip a Payment:

  • Consumer loans with a 180-month or longer original term.

  • Business

  • Payday Advance

  • Home Equity Line of Credit

  • Real Estate

  • Certificate Secured

  • Single payment Share Secured loans.

  • Loans closed by the Credit Union

Skip a Payment | Apply now

If you're having financial difficulties and are unsure if you can skip a payment, or if you have a loan that you think is not eligible, contact Oregon State Credit Union. Call 541-714-4000 or visit a branch.

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