Msufcu skip a pay 2025

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The Skip-A-Pay program by MSUFCU allows members to skip up to two monthly loan payments each year, provided certain conditions are met, including a $35 application fee. The program is not applicable for mortgages or business loans, and skipped payments will extend the loan term with continued interest accrual. Members must submit a written application and ensure their account is in good standing.

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Click ‘Get Form’ to open the Skip-A-Pay Application in the editor.
Begin by entering your name and, if applicable, the joint borrower's name in the designated fields.
Fill in your address, city, state, ZIP code, and phone number to ensure accurate communication.
Specify which payment you wish to skip by selecting the appropriate option from the 'Payment to skip' section.
Input your account number and choose whether to withdraw the $35 application fee from your checking or savings account. Don’t forget to include the two-digit suffix.
Review all entered information for accuracy before signing. Both borrowers must sign and date the form at the bottom.
Once completed, save your document and submit it via mail, fax, or in-person at any branch as instructed.

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Versions	Form popularity	Fillable & printable
2018	4.8 Satisfied (90 Votes)
2017	4.3 Satisfied (66 Votes)
2010	4 Satisfied (41 Votes)

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Does skip-a-Pay hurt your credit?

Taking the skip will result in you paying more interest. Even if you make an interest only payment, interest will accrue for longer on a higher principal balance. If you need the help, its not the worst thing you can do but it is revenue for the financial institution and thats why they are offering.

Does using Skip a Pay affect credit score?

No Credit Impact Skipping a payment through a holiday skip program like Skip a Pay wont affect your credit score. This is not the same as missing or being late on a payment, so theres no need to worry about your credit score taking a hit.

What are the cons of skip a Pay?

Both Auto Loans and Home Equity Lines of Credit (HELOC) are eligible for the Skip-a-Pay program. Mortgage loans, Personal Loans, Credit Card loans and loans that are past due are not eligible.

Is skip-a-Pay a good idea?

If your lender already has a payment deferment option in your loan agreement, you only need to choose skip a payment in your payment coupon book or apply to skip a payment on the lenders website. If your lender doesnt explicitly mention deferment in the agreement, first call them to understand your options.