The Skip-A-Payment Program requirements are as follows:
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Only Signature and Vehicle loan payments can be skipped.
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Eligible loans must be paid current to skip.
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The Skip-A-Payment information below must be submitted prior to the due date of the loan to be skipped. A $30.00 processing fee will be charged to your account.​
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With Skip-A-Payment all loan payments in a single month will be skipped. Each loan can have 2 months of payments skipped per year.
By signing below, you authorize GCCCU to extend your final loan payment by month(s). You acknowledge that
there is a $30.00 processing fee that must be paid when you submit this coupon for processing and that your requested loan can only be skipped for one entire month, there are no partial month skips. Interest will continue to accrue on your loan during the month you skip your payment. In some cases, based on the size of your loan balance, your accrued interest expense may be greater than the amount of your next loan payment. It may take several months to begin reducing the principal balance of your loan. Following the skipped payment month, the loan will revert to the original loan payment schedule. GCCCU has the right to refuse any Skip-A-Payment Coupon presented for processing.
Thank you for your helpful input and insight.
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