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Need a break? Skip-a-Pay!

The holidays are so much sweeter when you’re not worrying about your bills!

These days, we could all use a little extra cash. Fortunately, Listerhill offers an exclusive break from your loan payments during this costly time of year. Now that sounds like a holiday wish come true!

Skip-a-Pay is a program that allows members to skip a monthly loan payment during an especially tight financial season. Once a year, for only $35, you can take one month off from paying an eligible Listerhill loan and free up some extra cash with Skip-A-Pay.

Specific criteria must be met to qualify for Skip-a-Pay. The program is only allowed for certain closed-end loans such as auto loans, recreation loans, and personal loans and must also have a good payment history of 6 or more months. Mortgages, business loans, Christmas loans, credit cards and other lines of credit are not eligible for Skip-a-Pay.

Skipping a loan payment has many benefits, but an informed decision is the best decision. Here are a few more points to consider before you decide to skip a payment:

1. Breathing room

The primary benefit of choosing to skip a payment is quite obviously, the extra cash flow. During an expensive time of year, you might not make it through the month without resorting to swiping your credit card. By opting to skip a large payment on a loan, you’ll free up cash for your daily expenses so you don’t finish the month in the red. The holidays are so much sweeter when you’re not worrying about your bills!

2. Longer loan term

It’s important to remember by skipping a payment, you’re lengthening the life of your loan. True, you’re skipping a payment now, but you’ll need to make that up one day. You’re essentially moving this month’s payment to the end of the loan.

3. Accrued interest

Although Skip-a-Pay may prevent you from having to dip into your credit card — thanks to the extra cash you’ll have. You will eventually be billed for interest on that month's skipped loan payment. You’ll pay that interest at the end of the loan term. This means you’ll end up paying a bit more in interest during the life of the loan.

Ready to skip your next loan payment? Request a skip online or come into any Listerhill branch to chat more.

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Frequently Asked Questions

What if I get an error message when I try to enroll an email address or U.S. mobile number?

Your email address or U.S. mobile phone number may already be enrolled with Zelle^® at another bank or credit union. Call our member support team at 256.383.9204 and ask them to move your email address or U.S. mobile phone number to your financial institution so you can use it for Zelle^®.

Once customer support moves your email address or U.S. mobile phone number, it will be connected to your bank account so you can start sending and receiving money with Zelle^® through your Listerhill Credit Union banking app and online banking. Please call our member support team at 256.383.9204 for help.
Is my information secure?

Keeping your money and information safe is a top priority for Listerhill Credit Union. When you use Zelle^® within our mobile app or online banking, your information is protected with the same technology we use to keep your bank account safe.
I'm unsure about using Zelle® to pay someone I don't know. What should I do?

If you don't know the person, or aren't sure you will get what you paid for (for example, items bought from an online bidding or sales site), you should not use Zelle^® for these types of transactions.

These transactions are potentially high risk (just like sending cash to a person you don't know is high risk). Neither Listerhill Credit Union nor Zelle^® offers a protection program for any authorized payments made with Zelle^® – for example, if you do not receive the item you paid for or the item is not as described or as you expected.
Will the person I send money to be notified?

Yes! They will receive a notification via email or text message.
How long does it take to receive money with Zelle®?

Money sent with Zelle^® is typically available to an enrolled recipient within minutes.³

If you send money to someone who isn't enrolled with Zelle^®, they will receive a notification prompting them to enroll. After enrollment, the money will be available directly in your recipient's account, typically within minutes.³

If your payment is pending, we recommend confirming that the person you sent money to has enrolled with Zelle^® and that you entered the correct email address or U.S. mobile phone number.

If you're waiting to receive money, you should check to see if you've received a payment notification via email or text message. If you haven't received a payment notification, we recommend following up with the sender to confirm they entered the correct email address or U.S. mobile phone number.

Still having trouble? Please contact our member support team at 256.383.9204.