Skip A Payment

GreenState Credit Union offers members the opportunity to skip certain loan payments through the Skip A Payment program. Please thoroughly read the terms and conditions below, as you will agree to the terms by signing this form.

1. There is up to a $30 service fee to skip each payment on each loan. This fee will be added to the principal balance of your loan at the time the skip is processed. For example, if your principal balance prior to the skip request is $15,000, this will increase to $15,030. The amount of your loan payment will not increase but the amount you repay over the life of the loan will be higher.
2. You must complete one authorization request form per eligible loan. Borrowers identified as “co-signer” on GreenState Credit Union's records, must also sign the Skip A Payment Authorization and Request Form. The Skip A Payment will not be processed until this form is completed, reviewed, and approved by GreenState Credit Union.
3. All accounts with GreenState Credit Union must be in good standing for the loan to qualify for the Skip A Payment program. Good standing means that all loans with GreenState Credit Union are less than 15 days past due, all share accounts are in a positive status, the Credit Union has not experienced a loss on any loan or deposit account due to charge-off, repossession, bankruptcy, foreclosure, or be a specialty classified loan, and auto loans cannot have Collateral Protection Insurance in place due to a lack of adequate insurance.
4. Any automatic payments GreenState Credit Union originates by ACH from an external account with another financial institution or by Off Cycle Transfer from an internal GreenState Credit Union account will be suspended during an approved skipped period. Payments made via payroll deduction will be deposited into your GreenState Credit Union savings account. It is your responsibility to stop and restart recurring payments set up in GreenState Credit Union’s online banking. GreenState Credit Union does not have access to modify your online payments. It is also your responsibility to stop and restart payments you have set up through a 3rd party (i.e., Pegasus Pay, Online Bill Payer etc.)
5. The following loans are not eligible for the Skip A Payment program: commercial, mortgage, home equity, home equity line of credit, EZ Access line of credit, credit card, mobile home loans, natural disaster loans, personal loans managed by lending partners (Payoff Inc, Upgrade), and 0% pandemic/natural disaster loans.
6. You may request a Skip A Payment per eligible loan a maximum of two times in a 12-month period. Consecutive skips are not permitted and three consecutive monthly payments must be made on the loan before it would be eligible for another Skip A Payment. There are some auto loans that are only permitted one Skip A Payment per 12-months.
7. Loans must be at least 185 days old, with six (6) contractual payments received to apply for Skip A Payment. If you are experiencing a long-term financial hardship that affects your ability to make loan payments, please contact our Loss Mitigation Department at (800) 446-3719.
8. If eligible, this Skip A Payment will skip the next monthly payment or remainder of the next monthly payment on your loan. If your payment is due more frequently than once per month, the following number of payments will be skipped:
   • Weekly=four consecutive payments
   • Every other week= two consecutive payments
   • Twice a month=two consecutive payments
9. Finance charges (interest) will continue to accrue according to your contract term’s daily basis.

Skip a Payment Request

Borrower Authorization

We will respond to your request by email within 2 business days. If your loan qualifies, we will adjust the due date in our system and include the next payment due date for the records.