Summer Skip a Payment Vacation

Has life been a little crazy?  At FECU, we want to help you take a break by giving you an opportunity to skip your July, August, or September loan payment. 

Details:

  • Please allow a minimum of two weeks for us to process your request.
  • There is a $20.00 processing fee per loan.  The fee will be donated to the FECU Scholarship Fund. Scholarships are awarded annually.
  • The $20.00 fee can be deducted from your FECU savings or checking account or you can include cash or check with your request.
  • You can choose to skip either the July, August, or September payment.
  • If you make your payments via Bill Pay or using the Online Loan Payment tool, it is your responsibility to stop the payment.
  • If you make your payment automatically with Payroll Deduction or Direct Deposit, your payment for that month will be deposited into your Share Savings Account.
  • Offer excludes Credit Cards & Student Loans.
  • You cannot skip more than one payment per loan, per year.  You can skip a maximum of 4 payments per loan. You can skip payments for multiple loans.
  • By skipping a loan payment, you are adding one payment to the end of your loan which can extend the term and maturity date. 
  • Interest will continue to accumulate on your loan during the month you skip your payment.
  • All loan payments must be current for the past 12 months to qualify.

To participate, please complete this form and return it to us via secure e-mail, by mail, by fax or you can bring it to our office.

Published Date:July 01, 2020

Categories: News