Skip Pay Disclosure

AT POMPANO BEACH CITY EMPLOYEE CREDIT UNION, WE UNDERSTAND THAT DURING THE HOLIDAYS YOU NEED A LITTLE EXTRA CASH FOR AA SPECIAL OCCASION OR AN UNFORESEEN EXPENSE. THAT'S WHY WE'RE OFFERING THE HOLIDAY SKIP-A-PAYMENT FOR THE MONTH OF DECEMBER.

I HAVE CAREFULLY REVIEWED AND UNDERSTAND THE RESTRICTIONS LISTED BELOW*

INTEREST WILL CONTINUE TO ACCRUE ON THE SKIPPED PAYMENT(S) AND NO LATE CHARGE OR PENALTY WILL BE ASSESSED. THIS ELECTION WILL RESULT IN AN EXTENSION OF THE LOAN MATURITY DATE, THE NUMBER OF TOTAL PAYMENTS AND THE TOTAL INTEREST ON THE LOAN.

YOU MUST ACCEPT AND SUBMIT THIS REQUEST AT LEAST FIVE (5) BUSINESS DAYS PRIOR TO THE PAYMENT DUE DATE TO ALLOW TIME TO STOP ANY PAYMENTS THAT ARE MADE BY ACH. PAYMENTS FROM PAYROLL WILL BE DEPOSITED TO YOUR SAVINGS ACCOUNT AT THE CREDIT UNION.

PLEASE COMPLETE ONE APPLICATION FOR EVERY LOAN FOR WHICH YOU WISH TO SKIP. FOR INSTANCE, IF YOU HAVE A AUTO LOAN AND A PERSONAL LOAN, PLEASE SUBMIT ONE REQUEST TO SKIP THE PAYMENT ON THE AUTO LAND AND SUBMIT A SECOND REQUEST TO SKIP THE PERSONAL LOAN PAYMENT.

APPLICABLE LOANS:
VEHICLE LOANS AND PERSONAL LOANS.

RESTRICTIONS: SKIP - A - PAYMENT DOES NOT APPLY TO NO CREDIT CHECK LOANS, BTL LOANS. LOANS OPENED WITH THE LAST SIX MONTHS ARE NOT ELIGIBLE. THE LOAN ACCOUNT MUST BE CURRENT AND IN GOOD STANDING TO APPLY . LOANS CANNOT HAVE ANY PREVIOUS MODIFICATIONS.

FEES:
ONE TIME $25.00 PER LOAN.



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