Skip-a-Pay

You can get the extra money you need by skipping a payment on your qualifying Leaders Credit Union loan.

Eligibility and Requirements*:

Must be an active member with at least $10 in Share Account.
The loan must have existed for at least nine (9) months before it is eligible.
All deposit accounts must have a positive balance.
All Leaders Credit Union loans must be current.
Must not have been delinquent on any Leaders loan in the past 12 months (30 days overdue).
Loans secured by Real Estate, overdraft loans or any line of credit (including Leaders credit cards) are ineligible for a payment skip.

General information:

One skip-a-payment is allowed per loan one time per calendar year.
The $35 fee will be deducted from your savings or checking account. Check or cash can be accepted if applying in person at one of our branch locations.
The $35 fee will be taken at the time the skip is approved. If the account balance does not have enough funds to take the fee, the skip will be denied.
If approved, the current month due will be skipped. If you want to skip a future month, please wait until the due date reflects the month you want to skip.
Interest will continue to accrue during the month the payment is skipped.

Auto Draft/ACH Payments (this does not apply if loan payments are made by cash or check):

If an auto draft payment was set up by the member in online banking, it is the member's responsibility to stop the auto draft for the skip month.
If a monthly ACH payment was originated (set up by) another financial institution (FI), it is the member's responsibility to contact the other FI to stop the ACH for the skip month.
If Leaders originated the ACH to pull from another FI, Leaders will stop the ACH for the skip month. Leaders must have five (5) days prior notice to stop an ACH.
If the loan payment is made through direct deposit or payroll deduction, the payment will be deposited to the member's savings or checking account.