Stressed about making your payments on time? Life happens.

At North Star Credit Union, we work with you. Members in good standing are eligible to skip their loan payment once per calendar year on qualifying loans.*

Rates effective March 19, 2020 and subject to change without notice.

*Member Eligibility

• All loans are current (non-delinquent)
• Payment History shows current for the past 6 months
• Member must have made at least one loan payment
• All borrowers sign Skip-a-Pay disclosure form
• Skip-a-Pay form turned in a minimum of 7 business days before payment due date
• Borrowers cannot skip consecutive months in calendar year (December and January)
• $25 administrative fee per loan paid by check or deducted from borrower’s checking or savings account

**Terms of Agreement
Interest will continue to occur while payment is skipped
Skip-a-Pay could result in deduction of GAP claim
Negative amortization could occur
Credit life/disability will continue to be charged during skipped month (if applicable)
Skip-a-Pay will extend the maturity date of the loan
Borrower(s) are responsible for stopping certain types of payments including but not limited to payroll deduction, direct deposit from another institution, mailed check, and bill pay services