It's not hard to imagine a month you could use extra cash — especially when things get tight. Whether it's holiday costs or summertime fun, every season can come with all sorts of extra costs. Hold on to some of your cash during those crucial times with Skip-a-Pay!
Once a year, for only $35, you can skip a payment on any auto loan, recreation loan, or personal loan with a good payment history for the last 6 or more months. Credit card, mortgage, or other lines of credit are not eligible for Skip-a-Pay.
Skip-a-Pay is a service by Listerhill Credit Union which allows members to request to skip a monthly payment. The payment is instead added to the end of a loan, essentially extending the life of the loan by one month. This can be a valuable tool in your financial tool belt.
Auto loans, recreational loans, and personal loans that have not had Skip-A-Pay applied to them within the last year are all eligible for Skip-A-Pay. This includes boat loans, RV loans, 4-wheeler loans etc. However, home loans, Christmas loans, credit cards, and other lines of credit are not eligible.
In order to have your Skip-A-Pay request processed before your loan payment is due, please submit your skip request five (5) business days in advance of the scheduled payment date.
Example: If your next loan payment is due on June 20th, you would need to submit your request no later than June 12th.
Skip-A-Pay may only be used once a year.
Click here to request Skip-A-Pay, agree to do business electronically, and fill out the online form. You must also provide payment for the $35 fee before your loan payment can be skipped. This fee can be transferred from your Listerhill checking or savings account or paid from an outside account.
Use this calculator to help you figure out when you should apply for Skip-A-Pay. Just enter the payment date of the loan that you would like to skip and we can help you figure out how soon you should apply.
This calculator does not account for federal holidays and does not guarantee that your request will be approved or constitute an application. Please submit your application at least 5 business days prior to the date of payment. Members may only use Skip-A-Pay once a year.
| New Fee: | Details: |
|---|---|
| Maintenance Fee | We are introducing a new $5/month Maintenance Fee to all members. However, this fee can be waived if you meet just one of the following criteria:
• You or someone in your household has had a current loan or mortgage within the last 12 months. • You or someone in your household has an open credit card • You or someone in your household has an aggregate average daily balance of $3,000 in your accounts • You or someone in your household has a relationship with our Listerhill Financial Services department • You have paid at least $125 in NSF, Transfer, or Courtesy Pay fees for the month • You are under the age of 25 • Your account is less than 90 days old • You have paid a Return Mail Fee or an Inactive Account Fee for the month |
| Existing Fee: | Changing To: |
|---|---|
Jumbo Certificates Early Withdrawal Penalty • Terms of 1 year or less: 30 days interest • Terms of over 1 year: 90 days interest | Monthly Certificate Early Withdrawal Penalty • Terms of 1 year or less: 90 days interest • Terms of 18 mos-2 yrs: 180 days interest • Terms of over 2 years: 210 days interest |
| Existing Fee: | Changing To: |
|---|---|
| Regular Certificates Early Withdrawal Penalty
• Terms of 1 year or less: 30 days interest • Terms of over 1 year: 90 days interest | Quarterly Certificate Early Withdrawal Penalty
• Terms of 1 year or less: 90 days interest • Terms of 18 mos-2yrs: 180 days interest • Terms of over 2 years: 210 days interest |
| Existing Fee: | Changing To: |
|---|---|
| Relationship Fee | This fee is being eliminated. If you currently pay the $10/month Relationship Fee, you will no longer be charged this fee. |
| Existing Account: | Changing To: | What This Means: |
|---|---|---|
| Jumbo Certificates (60 month and 72 month) | Monthly Certificate (60 month) | Certificates will now be offered in six terms instead of ten terms and a reduced minimum opening deposit of $500 is required. However, you will continue to receive the following benefits:
• Interest Paid Monthly • Interest Paid by Deposit to Affiliate Account (Early withdrawal penalties have changed. Please see chart below.) |