Enjoy the Holidays! Sign up for Skip-A-Pay today!
At Mid Carolina Credit Union, our Skip-A-Pay program allows you to defer your December payment until the end of your loan term and if you have more than one loan you can Skip-A-Pay on each. That’s right – an offer to make your season more bright!
Taking advantage of this offer is easy! Simply click here to access the Skip Pay Application. Complete the form and either drop it off at one of our four branch locations or mail it too: Mid Carolina CU c/o Skip-A-Pay PO Box 549 Lugoff SC 29078.
A $25 fee will be assessed per Skip Pay request. This fee will be added to your loan balance as a finance charge. You may also instruct us to take the fee from one of your other Mid Carolina Credit Union accounts.
Skipping a loan payment extends the term of the loan, interest will continue to accrue, and the final loan payment will be different due to the skipped payment. All other terms and conditions of the loan will remain the same.
Have questions about our Skip-A-Pay program, use the form below to contact a representative.
Skip-A-Payment Terms, Fees, and Disclosures
1. Skip-A-Payment Fee per loan is $25.00. Fee may be paid by check at time of request or deducted from your MCCU share or draft account.
2. If the credit union drafts your payment from another financial institution, your Skip-A-Pay request MUST be made at least three (3) business days before the due date of the payment you are trying to skip to allow time for processing. If the form is not submitted in the requested time-frame, Skip-A-Pay status can be denied.
3. Mortgage loans, accounts included in bankruptcy or foreclosure, loans with extensions or alternate payments in the past six (6) months, modified loans through troubled debt restructuring, members who have caused losses to the credit union (loans, credit cards, shares, etc.) and Visa accounts are not eligible
4. This offer expires on Dec. 31, 2018. Loans must be current at time of request to qualify and loans must have no past due history of 30 days or more in the last (6) months. Only applies to loans originated prior to June 1, 2018.
5. All share accounts must be in good standings. No shares may have a negative balance.
6. FINANCE CHARGES will continue to accrue at the rate provided in your original loan agreement on the outstanding loan balance and will result in additional interest paid as opposed to if you made your payment as originally scheduled. Deferring payment(s) will extend the terms of loan(s) resulting in extra payment(s) after your loan would otherwise be paid off. 7. Regular payments will resume on the first regular payment date of the month following the skip.
8. If previously elected, Credit Life and/or Credit Disability premiums will continue being added to the loan during the extended term in order for benefits to continue.
9. If you have GAP insurance on your loan, the coverage will not extend beyond the original maturity date of the loan nor will GAP cover the deficiency balance arising from skipped payments as disclosed in the Guaranteed Asset Protection Contract.
10. All Skip-A-Payment requests are subject to approval. Restrictions may apply. Insured by NCUA. An Equal Housing Lender.