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About Community Alliance Credit Union

Skip-A-Payment

Community Alliance Credit Union Skip-A-Pay Request Form

Application, Disclosure and Agreement

Community Alliance Credit Union Skip-A-Pay (CACU) program lets you skip one (1) payment on your closed end loan every 12 months. * All your payments must be current at the time of the request; you must have made at least six (6) payments; and you must submit this form (signed, or by telephone). A $35 processing fee will be assessed and withdrawn from your CACU account for each qualifying loan payment skipped if approved. NOTE: Credit cards, Mortgages, Home Equity Loans, Lines of Credit, Overdraft and Business Loans are not eligible. Submit your request at least three (3) days prior to your due date.

 

 

Please print and complete the following:

 

Name: __________________________________

Account: ___________________________

Phone:_____________________________

eMail:_____________________________________

 

Please skip the following Loans: (These columns for office use only)

ID: ____ Due Date Now:________ Due Date After:________ Interest Date:________ Open Date: ________

ID: ____ Due Date Now:________ Due Date After:________ Interest Date:________ Open Date: ________

ID: ____ Due Date Now:________ Due Date After:________ Interest Date:________ Open Date: ________

 

Withdraw the Processing Fee from Account #: _________Savings or Checking (circle one)

 

By signing I request to skip the payment(s) referenced above and I agree to pay a processing fee of $35 for each request. I agree to all the provisions of the Skip-A-Pay program as described. I understand that each skipped loan payment will be added to the end of my loan term. I understand skipping a payment on an auto loan might negatively affect a future GAP claim, should I ever need to file one. Only one borrower is required to sign.

 

_____________________________________________ 

Borrower’s Signature     

_______________

Date

Return this to:

Mail: Community Alliance Credit Union, 37401 Plymouth Rd., Livonia, MI 48150

Fax: 734-464-2391

 

*Your account must be in good standing, and you must have sufficient funds on deposit to cover the $35 processing fee. Interest will continue to accrue on your loan during the month you skip your payment, which will cause the maturity date on each loan to be extended.

 

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