Skip to main content

Skip A Payment

Now you can Skip A Payment anytime.

Because we all know that sometimes you just need a little extra cash, we are excited to announce that we now offer Skip A Payment year-round. With a low one-time fee of up to $25, you can choose to skip a payment on one or more loans at a time directly from your Digital Banking app.

Skip a Loan Payment on:

 

Auto

 

Motorcycle & ATV

 

RV & Camper

 

Signature Loan

 

Boat

It’s easy!

Members who meet eligibility requirements can make the skip via Digital Banking from anywhere. Just log in and follow these simple steps:

  1. Once logged in, you will see the number of eligible loans on a banner at the top of your homepage. Click "Learn more."
  2. Review the details on your eligible loans and check the box for any loan payment you’d like to skip.
  3. Read and agree to the Terms and Conditions.
  4. Select the account you would like the fee withdrawn from, and click "Complete the Skip A Payment."

Once your Skip A Payment request is complete, you will receive a confirmation and the process will advance the due date for each loan skipped from the current month to the following month.

Just don’t forget to cancel or adjust any online auto payment for the payment you skipped.

Sounds great but I still have questions.

We understand that there are some important points to consider before you decide to Skip A Payment. Please review the following frequently asked questions.

  • Auto
  • RV
  • ATV
  • Motorcycle
  • Boat
  • Fixed personal loans

  • Your loan(s) must be open for at least six months and be in good standing.
  • Your loan(s) must have at least three minimum payments made and cannot be delinquent beyond the grace period.
  • Your loan(s) must be set up on a monthly payment frequency.
  • You must also have enough funds in one of your personal Gulf Winds accounts to cover the one-time processing fee.

The fee will not exceed $25.

Yes, interest will accrue regardless of the skipped payment. The skipped month(s) will be added to the end of your loan, extending the loan term.

  • If your payment is set up through Digital Banking or through another financial institution, you will need to stop the payment on the month you would like to skip. It is also important that you don’t forget to restart the payment after your skip.
  • If your payment was set up by us, no need to worry. The payment will pause automatically and restart the following month.

You can only use Skip A Payment once every six months for each eligible loan.

  • Yes, you can, but you can only use Skip A Payment for the payment month that is currently due and payments that are no more than 10 days past due.
  • You may only skip the same loan a maximum of two times per calendar year.

If you have any form of GAP in connection with the loan on which you seek to use Skip A Payment, you should ensure your election to skip does not impact your coverage. Please refer to your policy and address any questions to those companies.

We want you to be able to have flexibility with your finances. We all know that sometimes you just need a little extra cash.

Skipped payments are subject to the Credit Union's approval. Your loan must be in good standing to qualify for Skip A Payment. Please note that Credit Cards, Credit Lines, Mortgage, Home Equity, Share-Secured, Fast 500, Payday Alternative Loans are not eligible for Skip A Payment Requests. Notice to our GAP policyholders: Understand that if you have GAP coverage on your loan(s), the skipped payment(s) on that loan may affect the benefit amount. Please refer to your GAP policy.

Your obligation to make payments will resume on your regularly scheduled due date the month immediately following the payment you skipped, under the original terms of your Agreement. If your payment is set up to auto-pay or web bill pay, you will need to take action to stop payment for the month you would like to skip. Interest will continue to accrue during the period when your payment is skipped and your loan term will be extended accordingly.