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Credit Union West
Routing Number: 322172153
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Home Borrowing Skip a Payment

Skip a Payment


Keep Cash in Your Wallet


There are times in life when it helps to have more cash in your wallet. We offer Skip-a-Pay for when those times arise. If you have loans in good standing with us, you could qualify to skip your next loan payment.









How to Qualify1


Our Skip-a-Pay option may be able to help:
  • If you need assistance with your Personal, Auto, RV, Boat, or Motorcycle Loan
  • The number of Skip-A-Payments in a rolling 12-month period is limited to a maximum established by the credit union and may be subject to change
  • The fastest way to complete a Skip-a-Pay request is through Mobile and Online Banking. Learn How.

You are allowed to skip the next loan payment under the following conditions:
  1. The loan must not be a workout loan
  2. The next payment due date on the loan must be at least five calendar days before the payment is due
  3. All loan payment requests cannot exceed 15 calendar days after the due date
  4. Loans must be opened for more than 6 months
 
If you do not qualify for Skip-a-Pay, other options may be available to you. See financial assistance options.

 
 
 

Instant Answers for Skip-a-Pay


When can I request a skip?

All requests must be received at least five calendar days before payment is due. All loan payment requests cannot exceed 15 calendar days after the due date.

Can I skip two payments in a row?

The number of skip-a-payments in a rolling 12-month period is limited to a maximum established by the credit union and may be subject to change.

How does skipping affect finance charges?
 
On qualifying loans, interest will continue to accrue during the waived payment period which will result in the term of the loan being extended.

How do I qualify for Skip-a-Pay?

You are allowed to skip the next loan payment under the following conditions:

  • The next payment due date on the loan must be at least five calendar days before the payment is due.
  • All loan payment requests cannot exceed 15 calendar days after the due date.
  • Loans must be open for more than 6 months
 
Which loans do not qualify for Skip-a-Pay?

Workout Loans, Mortgage, Home Equity Loans, Home Equity Line of Credit, Credit Card, Credit Reserve, Certificate/Share Secured Loans, Business Credit Cards, and Business Lines of Credit are not eligible for Skip-a-Pay. 
 
Can I get assistance for other types of loans or credit card payments?
 
Yes. You may submit a request for a loan payment extension on the following loan types:2
  • Business Credit Cards
  • Business Lines of Credit
  • Credit Card
  • Credit Reserve
  • Home Equity Loan
  • Home Equity Line of Credit
  • Signature Line of Credit
If you are in need of other financial assistance options, contact us by calling 602.631.3200 or sending us a secured message through Mobile and Online Banking. You may also email our team at MemberCareTeam@cuwest.org to see how we can help.


 

1 A skip a payment fee will be processed per the Skip-a-Payment agreement, for each skipped payment request.  You may not request two back-to-back Skip-a-Payments. If you have more than one qualifying loan, you may request to Skip-a-Payment on each loan. The processing fee(s) will be returned to anyone not eligible to participate in this offer. In order to skip your payment, all loans and accounts must be current and in good standing at the time we receive your request, and your loan must be opened for more than 6 months. The deferral of loan payments pursuant to this agreement will automatically extend the loan maturity date by a corresponding period of time. Deferral of payments will reduce the portion of future payments applied to principal resulting in a larger final payment, or negative amortization. Interest and any voluntary insurance premiums, if applicable will continue to accrue as usual during the deferral period. The number of Skip-a-Payments in a rolling 12-month period is limited to a maximum established by the credit union and may be subject to change. Certain restrictions apply and not all loans are eligible for this program. In some instances, it may be required that the member authorize having a credit bureau pulled for review. Subject to credit qualifications and performance. Program subject to change at any time.

2 There is a one-time Payment Extension Fee for each loan extension per the Credit Unions Fee Schedule. Please refer to the applicable Fee Schedule available online at cuwest.org/resources/rates-and-fees. Payment Extension Fee will be returned to anyone not eligible to participate in this program. The deferral of loan payments pursuant to this agreement will automatically extend the loan maturity date by a corresponding period of time. Deferral of payments will reduce the portion of future payments applied to principal resulting in a larger final payment, or negative amortization. Interest and any voluntary insurance premiums, if applicable will continue to accrue as usual during the deferral period.  Certain restrictions apply and not all loans are eligible for this program. In some instances, it may be required that the member authorize having a credit bureau pulled for review. Subject to credit qualifications and performance. Program subject to change at any time.