IAACU is now offering Skip-a-Pay. This program allows qualifying members a method to skip a regular monthly car, recreational vehicle or personal loan payment for a $25 fee.
Why use Skip-A-Pay?
Free up cash
Cover unexpected expenses
Plan a short vacation
What type of loan do I need to have to take advantage of this offer?
Loans that are paid through payroll deduction will still transfer to the members .1 share savings account and will be available for withdrawal after the $25 fee has been debited from that account.
Bi-weekly or semi-monthly payroll deductions will be required to skip all payments for the month chosen or next two consecutive payroll dates. These funds will be deposited to your primary share savings account.
Skipped payments will not be processed without an executed agreement and $25 fee payment.
By signing this form you authorize IAA Credit Union to advance your loan due date by one month and also understand that this will extend the maturity/final payment date of your loan. You agree to pay a $25 fee for this service. Interest will continue to accrue on the unpaid principal balance during the month that you defer payment. When your loan payment resumes the unpaid, accrued interest will be collected first. All other terms and conditions of your original loan agreement will remain in effect during this time.