Skip Pay

Skip A Pay

With Skip Pay, members may defer an eligible monthly loan payment and extend the original loan term. Put those funds towards holidays, vacations, gifts, or anything else the season brings. Please review our FAQ below, print out and complete the Skip Pay Agreement, mail or fax it to our offices, or pick one up the next time you stop by to visit. You can also skip a payment by logging into your online banking.



Q: What is a Skip Pay?
A: Skip Pay allows you to skip a pre-determined monthly payment. One monthly payment is deferred and will extend the loan’s original term. There is a maximum of two Skip Pays allowed per year.

Q: Is there a fee for skipping a payment?
A: There is no longer a fee for skipping a payment.

Q: What do I have to do in order to participate in the Skip Pay program?
A: To participate, complete a Skip Pay Agreement or process through It’s Me 247 Online Banking. The forms are also available at our offices. Allow five business days minimum before your payment if you are automatically set up to send a payment from a different financial institution. All other payment types must be submitted at least one business day prior to the due date.

Q: I have a co-signer/co-borrower on the loan. Do they have to sign the agreement also?
A: No, only one person needs to sign the Skip Pay loan extension agreement.

Q: Does interest still accrue on the loan during this time?
A: Yes. All other terms and provisions of the original loan agreement are unchanged and remain in full effect.

Q: Do all loan types qualify for Skip Pay?
A: No. Mortgage, Home Equity, and Business loans are not eligible for this loan extension.

Q: Are there any other exclusions?
A: Yes, members who have been granted extensions due to extenuating circumstances within the previous 12 months are not eligible. Members must have payments up to date, including the previous month’s loan payment, and the loan must be opened seven months before a skip pay may be granted. All Arize/SPE loans in the member’s name must be up to date for any loan Skip Pay approval.