How our Skip-a-Pay Program Works

Feeling a temporary financial crunch or could simply use a little extra cash? By skipping a payment on your qualifying credit union loan(s), you can get the extra money you need.

Eligibility Requirements  

To be eligible for our skip-a-pay program, the following criteria must be met:

  • You 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 CU loans must be current
  • Must not have been delinquent on any Leaders CU loan in the past 12 months (30 days overdue)
  • Loans secured by Real Estate, Overdraft loans, or any line of credit (including a Leaders VISA card) are ineligible for a payment skip

How it Works

  • One skip a payment allowed per loan one time per calendar year.   
  • The $35 fee will be deducted from Share Savings or Checking account, or a check can be accepted when the Skip A Payment form is submitted. (Check is deposited to Share Savings account for the fee.)   
  • 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.   
  • Interest will continue to accrue during the month the payment is skipped.

How This Will Effect Your 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 on-line banking, it is the member's responsibility to stop the auto-draft for the skipped month.
  • If a monthly ACH payment was originated (set up by) another financial institution, it is the member's responsibility to contact the other FI to stop the ACH for the skipped month.
  • If Leaders CU originated the ACH to pull from another FI, Leaders CU will stop the ACH for the skipped month. Leaders must have 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 Share Savings or checking account.

If you do not know how your ACH payment was originated, a Leaders CU representative can help.

In the event that the auto-draft/ACH payment was not stopped, the payment will be transferred to the member's Share Savings or checking account. The member may then complete cash or check withdrawal if needed, or the funds may remain in the deposit account for future spending.


Fill out this form and we will let you know if your request is approved!