Skip-A-Pay
There are times in life when it helps to have additional cash on hand. At FAA FCU we offer a *Skip-a-Payment for those times. If you have loans in good standing with us, you may qualify to skip your next loan payment.
The option to skip your loan payment is a year round benefit for our members. A $30 fee applies to each payment that is skipped. Skipping a payment does not impact your credit score but it is important to know interest will continue to accrue during the waived payment period, causing the total amount of interest paid over the life of the loan to increase. The deferred payment is simply added to the end of your loan term.
This feature is available via the mobile app and online banking. Once logged in to your account, select a loan suffix and the Skip a Payment Option to see if your loan qualifies. You may also visit or call your local branch for assistance.
*Fee applies. Not all loans qualify. Mortgage, Home Equity Loans, Home Equity Line of Credit, Visa Credit Card are not eligible for Skip-a-Pay.
