Skip-a-Loan Payment Program Agreement

This program is available on consumer loans in good standing that have had at least eight consecutive monthly payments credited to the loan and who have not skipped a loan payment in the previous 12 months. The Skip-a-Payment should be received at least five (5) days prior to the loan(s) due date. Signatures from all signers on the loan(s) are required.

This offer does not include single-payment loans, real estate loans (mortgage or home equity), lines of credit, or credit cards.

The fee for this deferral shall be $25.00. In addition to the deferral fee, interest charges will continue to accrue on the unpaid balances of the loan(s) during the month you skip your payment. This adjustment does not affect the other terms of the indebtedness, constitute payment forgiveness nor a payoff, and will extend the maturity of your closed-end loan. The total finance charges that you will pay on your loan will be greater than if you elect to take no deferral.

Any Gap or warranty coverage on a loan may or may not cover payments deferred through a Skip-a-Payment program or other modifications to the original loan terms.

By completing this online form, you:

1. Authorize R-G Federal Credit Union to extend your final loan payment by one month.
2. Acknowledge that within two business days, we’ll contact you to finalize the request and provide the Skip-a-Payment agreement for your signature and that without the completed signatures, your request will not be processed. 
3. Understand that this deferral is not available for a first-time loan payment and that you must have paid at least eight loan payments credited to the loan(s), and you may have only one deferral in twelve months for any one loan. 
4. Must not be delinquent on any of your obligations to the Credit Union and it must be a closed-end loan. 
5. This Skip-a-Payment will stop R-G originated automated loan payment transfers and ACH transfers from another financial institution from posting to your loan for the month of your deferral. If you have scheduled a transfer from another Financial Institution's online banking/bill pay system to R-G to pay the loan(s), set up recurring payments in the online payment portal on R-G's website, or scheduled to pay the loan automatically in R-G online banking it will be your responsibility to stop and restart the recurring payment(s) after the deferral period.