Skip-A-Pay is a program that allows members to skip their payment on an eligible* loan(s) up to two times per year, with a three month waiting period between them. The cost to skip a loan payment is $25 per eligible loan type.

Skip-A-Pay

Q: What if I am not eligible, but really need to skip a payment?

Certain loan types are not eligible for the program, like mortgage and home equity loans. If your loan cannot be skipped, you may not meet the eligiblity requirements. Please see the Terms and Conditions or contact us for further assistance

Q: How do I find out what loans are eligible?

Eligible loan types include Auto Loans and Signature (Personal) Loans. Log into Online Banking , click on "Additional Services", then "Skip a Pay" to get started.

Q: How do I request a Skip-A-Pay?

Log in to Online or Mobile Banking and select 'Skip-A-Pay' under the 'Additional Services' tab. Select the loan you'd like to skip. Skip-A-Pay will appear as an option if the loan is eligible to skip. Next steps

Q: How do I pay my $25 to skip?

a { text-decoration: none; color: #464feb; } tr th, tr td { border: 1px solid #e6e6e6; } tr th { background-color: #f5f5f5; } To process your Skip‑A‑Pay, the $25 fee must be available in your Universal 1 savings or checking account. If needed, you can simply transfer funds from an external bank account or other Universal 1 account into your Universal 1 account.

Holiday Skip-A-Pay has ended.

Life Happens. Skip a Payment When You Need To

FAQs | Terms & Conditions
Skip-a-Pay allows eligible members to defer a monthly payment on select loans*, up to two times per year, when you need a little extra breathing room.

Eligible Loan Types Include:

Auto Loans
Signature (Personal) Loans

(Excludes mortgages, home equity loans/lines, overdraft line of credit and VISA credit cards)

SAP FAQs

What if I am not eligible, but really need to skip a payment?

How do I find out what loans are eligible?

How do I request a Skip-A-Pay?

What is Skip-A-Pay?

How do I pay my $25 to skip?

*Skip-A-Pay Terms & Conditions

The Skip-A-Pay option is available on consumer auto and personal loans, excluding balloon loans, first or second mortgages, home equity lines of credit, overdraft lines of credit, and VISA loans**. Skip-A-Pays may be used up to two times per year with a three-month waiting period required between them. To qualify for a skip payment, all Universal 1 Credit Union (U1) loans must be current, have a minimum of six processed payments (including three consecutive on-time payments prior to the requested skip month), and all U1 accounts must be in good standing. All Skip-A-Pay requests are subject to U1 approval.

By participating in U1’s Skip-A-Pay program, you request that U1 defer your loan payment(s) as indicated. You agree and understand that:

Finance charges will continue to accrue at the rate provided in your original loan agreement.
This extension will extend the maturity of the loan(s) by one month beyond the current scheduled maturity date.
Interest will continue to accrue on the unpaid balance, and the final payment may be larger than originally disclosed due to the additional interest.
You will be required to resume your contracted loan payment the following month.
A finance charge of $25 will be deducted from your U1 savings or checking account, per your choice, at the time the request is made. If funds are not available in your U1 account, you can transfer funds into your U1 account from an external bank account using the Move Money>External Funds Transfer feature, or other U1 account.
If you have chosen GAP, Warranty, or Debt Protection Coverage, some products and/or insurance may alter the term and/or amount of coverage. Refer to your documentation or contact your coverage company for verification.
If you have a scheduled automatic payment (from an external Financial Institution or from your U1 account), you will need to cancel the payment prior to its processing. This can take several business days, depending on where your payment is debiting from. Remember to resume your automatic payment after the skip has processed.

**Additional restrictions may apply. The Skip-A-Pay program is subject to change at any time. Contact us for complete details.

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