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Anytime Skip-A-Pay

Now you have a say when you want to skip-a-pay. Our Anytime Skip-A-Pay program allows you the flexibility to react to situations where you could use a bit more cash for emergencies, vacations, back-to-school costs, paying off holiday debt, or other times when you have higher-than-normal expenses.

Frequently Asked Questions

 

Anytime Skip-A-Pay Puts You in Control

Eligible loans:

  • Auto
  • Heating and air (HVAC)
  • Storm shelter and generator
  • Personal
  • Specialty vehicle (boat, motorcycle, personal watercraft, ATV)

Ineligible loans:

  • Mortgage and home equity lines of credit
  • RV
  • Tractor
  • Personal lines of credit
  • Commercial
  • Student Choice student loans
  • VISA® credit cards

Anytime Skip-A-Pay lets you take control of your finances and create some peace of mind during financially stressful times. Eligibility requirements and disclosures:

  • You must be enrolled in Online Banking. Not enrolled? Start here.
  • When you are logged in to your Online Banking account (desktop or mobile), if you are eligible to skip your payment, the Anytime Skip-A-Pay option will appear.
  • Your loan must be at least six months old.
  • You cannot be past due at the time the skip-a-pay request is made.
  • Payment cannot be skipped in consecutive months and more than twice in any 12-month period.
  • Oklahoma Central reserves the right to decline an Anytime Skip-A-Pay request due to poor payment performance or any other negative circumstance related to a member’s account(s).
  • Credit life, disability and/or GAP coverage on any given loan may not extend beyond the original maturity date.

Questions? Email CustomerService@OklahomaCentral.org or call 918-664-6000, option 8, to speak with a member service representative.

Frequently Asked Questions

How do I know if I am eligible?

Your eligible loan type (see below) must be open for at least six months and cannot be past due. If there is any circumstance the credit union deems derogatory related to your account, it may impact your eligibility.

NOTE: If you are eligible, this program will be offered to you through your online banking account and will appear in a window within your account dashboard.

How often can I skip?

Oklahoma Central Credit Union’s Anytime Skip-A-Pay allows you to skip payments on eligible loans a maximum of two times per calendar year in non-consecutive months (i.e. you can skip in March and May, but not in March and April). The skipped payment and fee are added to the balance of your loan and does not impact your credit rating.

How do I skip my payment?

You must be enrolled in Online Banking in order to participate in Anytime Skip-A-Pay. When you are logged into your Online Banking account, if you are eligible to skip your payment, an Anytime Skip-A-Pay window will display within your dashboard. Just follow the prompts within the Skip-A-Pay window.

If you are not eligible, the Anytime Skip-a-Pay window will not appear.

What loans are eligible?

Eligible loans include:

  • Auto
  • Heating and air (HVAC)
  • Storm shelter and generator
  • Personal
  • Boat
  • Specialty vehicle (motorcycle, personal watercraft, ATV)

Ineligible loans include mortgage and home equity lines of credit, RV, tractor, personal lines of credit, commercial/small business, Student Choice student loans and VISA® credit cards.

Is there a fee?

There is a $35 fee per skip (per loan) which is applied to your loan. All accounts must pay Skip Pay fee, including those with Platinum status.

How does skipping my payment affect my loan?

The skipped months will be added to the end of your loan, extending the loan term. Interest will continue to accrue during skipped months.

How does skipping my payment affect my due date?

If your payment is weekly or biweekly: Your next due date will be 28 days from your last due date. For example, if your payment is due September 1 and you choose to skip your September payment, your new due date is September 29.

If your payment is monthly or semi-monthly: Your next due date will be the same day of the following month. For example, if your payment is due September 1 and you choose to skip your September payment, your new due date is October 1.

What if my payment is automatically drafted (ACH) from my account or paid through Bill Pay?

If your payment is automatically drafted from your Oklahoma Central Credit Union account or if we pull your payment automatically from another financial institution, we will make sure we do not pull it for the month you are skipping. If we are pulling your payment from another financial institution, we need a five-day lead time to ensure the payment can be stopped.

If you use Oklahoma Central Credit Union’s Bill Pay or Bill Pay from any financial institution you’ll need to stop and restart the payment yourself. Don’t forget to turn it back on after your skip!

What if I have additional questions?

Email customerservice@oklahomacentral.org or call 918-664-6000, option 8, to speak with a member service representative.

 

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