"Holiday SKIP-A-PAY"

Take advantage of our Skip-A-Payment offer to skip one monthly payment when you need it most. Select the month you wish to defer your payment, November or December 2017, and we’ll add it to the end of the loan without impacting your credit rating. We make it easy!

To apply, simply complete the information requested and mail, fax, email or bring to any of our offices along with your check for the skip fee(s). Please don’t send cash. If you prefer to have the fees deducted from your Chattanooga Federal Employees Credit Union checking or savings account, check the appropriate box. Real estate loans are not eligible.

Select the month that you wish to skip
Please describe briefly. (Example: Auto/2015 Toyota, Signature Loan, etc. Real Estate Loans excluded)
Name *
Name

This Addendum amends your Loan Disclosure Statement and Agreement regarding your loan payment. By signing, you understand and agree to the following terms and conditions and request that ChATTANOOGA FEDERAL EMPLOYEES CREDIT UNION extend the due date of your regular payment(s) by one month, for the month indicated on this form. You agree to pay a skip payment processing fee of $35.00 per loan. If there are not sufficient funds in your account to cover the fee, the processing fee will not be deducted and the payments(s) will be due on your loan(s) in accordance with your disclosure statement and agreement. You understand that interest will continue to accrue on your entire loan balance, including the amount of the skipped payment, and that skipping this payment means it will take longer to pay off your loan. CFECU reserves the right to refuse to honor this request if all terms of the disclosure statement and agreement have not been met at the time this addendum is presented. All loan payments must be current to qualify and the membership in good standing. The loan must be at least six months old. All other payment terms of your Loan Disclosure Statement and Agreement will remain in full force and effect. Offer excludes all real estate loans. You may not skip a payment if the skip payment will cause negative amortization on your loan. Payroll deduction will not be interrupted. The funds will remain in your account for withdrawal. We must receive your signed request no later than seven business days before the date of the requested skipped payment. Approval subject to credit qualification. Each loan is allowed a maximum of three (3) skips for the life of the loan.