Fremont Federal Credit Union



Holiday Skip – A – PaymentNeed extra cash for your Holiday needs? Skip – A – Payment can help!Stretch your holiday budget this season by skipping your November, December, or January loan payment. If you qualify, you can skip one month’s loan payment on any or all of your eligible Fremont Federal Credit Union loans. Here’s how it works:Complete the skip – a – payment application form attached belowReturn the form to one of our branches before your payment due date(s)Pay a $40.00 processing fee for each loan you wish to skipYour loans must be current and share accounts must have a positive balance Mortgage Loans, Home Equity Loans, Credit Card Payments, and Single Pay/Term Loans are not eligible for Skip – A – Payment.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Complete this application and return it to any convenient FFCU branch location________ Auto _________Personal ________Recreational _______All LoansSelect Month to Skip: _____November ______December ______January Name: _______________________________Member Number:_________________Address: ______________________________________________________________Daytime Phone #:_____________________ Payment Amount: __________________ Signature: _______________________________________ Date:______________________ Check Enclosed _____ Deduct form Savings _____ Deduct from CheckingFor Internal: Accepted by: _______________________ Date: _______________ Approved: _____ Denied: _____Use Processed by: _______________________ Date: ________________ Contact Date: ______________*Maximum number of payment skipped in a month: one monthly, two bi-weekly, two semi-monthly or four weekly. I must be a member in good standing with all of my loans current to participate in FFCU’s Skip-A-Payment program. The Credit Union reserves the right to determine if prior subsequent actions may disqualify your account. There is a $40.00 processing fee to skip each payment on each loan. Not offered on Mortgage Loans, Home Equity Loans, Credit Cards, or Single Payment/Term Loans. Interest will continue to accrue on a daily basis at the Annual Percentage Rate set forth in the loan agreement, both during and after the deferral period. This means that this deferral of scheduled payments will result in my having to pay higher total interest and a higher number of payments than if I made my payments as originally scheduled. I will, therefore, have to make extra payment(s) after my loan would otherwise have been paid off. In all other respects, the provisions of my original agreement remain in full force and effect. I agree to contact the Credit Union for exact payoff information. I agree that I will resume making scheduled payments beginning with the payment due during the month following the deferral and will make all scheduled payments due thereafter. I understand that all these payments will be applied first to finance charges and late charges, if any, and then to principal. My next monthly payment will include the finance charges from the skipped month. Monthly premium for Debt Protection will still be added to the loan on the skipped month. Use of skip-a-payment program more than twice during the life of a vehicle loan may affect future GAP claim or payoff. ................
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