Skip-a-Loan Payment is a service offered by some financial institutions that allows customers to defer a loan payment to help manage their household budgets.  Some institutions offer the option seasonally, for example around the holidays, and some let you take advantage of the service anytime during the year.  Most limit the service to once or twice a year.


Pacific Service CU offers the skip-a-loan-payment option because we think members appreciate the flexibility it offers.  We understand sometimes you need to stretch your budget for unforeseen expenses like a broken water pipe, new tires or property taxes.  As a courtesy to members with loans in good standing, this option let’s you skip a loan or Visa payment up to twice a year.  It’s only $25 and it doesn’t affect your credit rating.


We don’t recommend that you routinely take advantage of the skip pay option because it’s not a free ride.  Skipping a payment extends the term of your loan by a month and interest does continue to accrue until your next payment is made.  It can, however, help with budgeting when you need it most.


You can arrange skip a payment online by logging into BranchLine, clicking on Skip-a-Loan Payment and selecting any eligible loan.  For more information, call our Loan by Phone center at (888) 858-6878.


by Hemlata, AVP, Lending