SKIP-A-PAYMENT
Skip your loan or credit
card payment in November,
December, or January, for a low
$30.00 processing charge.
If you normally make your payment(s) by
check, you won’t need to send one for the
month you select. If your loan payment
is made by payroll deduction, it will be
deposited into your primary account where it
will be available for withdrawal.
Wrapped up in
holiday bills?
Commercial or business loans, home equity
loans, home equity lines of credit, rst
mortgage loans, or on loans where fewer
than three payments have been made are
not eligible for this oer.
Submit your request online at sandia.org/
skip-a-payment. Or bring your completed
Skip-A-Payment form into any branch, fax it
to 505-256-6183, or mail it to: Sandia Area
Federal Credit Union, PO Box 18044, ABQ,
NM 87185-0044.
SKIP-A-PAYMENT
OFFICIAL REQUEST FORM
NAME
MEMBER #
EMAIL ADDRESS
DateSignature
Vehicle Loans or Other Consumer Loans
Choose ONE month to Skip-A-Payment
Loan number(s) and description for Skip-A-Payment:
(Example: Loan No. 1, 2018 Toyota Prius)
Loan No. 1
Loan No. 3
Loan No. 2
November 2019 December 2019 January 2020
Please take the $30 processing fee(s) from my:
Signature Loans or Personal Lines of Credit
Choose ONE month to Skip-A-Payment
Loan number(s) and description for Skip-A-Payment:
(Example: Loan No. 2, Personal Line of Credit)
Loan No. 1
Loan No. 2
November 2019 December 2019 January 2020
Checking Savings
Enclosed is a check
($30 per payment)
Please take the $30 processing fee from my:
Credit Card
Choose ONE month to Skip-A-Payment
Last 4 digits on card
November 2019 December 2019 January 2020
Checking Savings Enclosed is a $30 check
IMPORTANT INFORMATION
For each eligible loan, you may skip one payment. First
mortgage loans, home equity loans, home equity lines of
credit, commercial and business loans, and loans where fewer
than three payments have been made are NOT eligible for the
Skip-A-Payment Program. If approved, your regular monthly
payments will resume immediately following the month you
indicate on the request form. Loan(s) must be current at time
of Skip-A-Payment. By signing the ocial Skip-A-Payment
request form, you authorize Sandia Area Federal Credit Union
to do the following, depending on the type(s) of loan payments
you request to skip. Skipping payments can aect payment
protection and GAP coverage. See your agreement for details.
Vehicle and Consumer Loans: Sandia Area will add the $30
processing charge (per loan) to your principal loan balance and
advance your loan due date by one month. This may extend the
maturity date of your loan. The $30 processing fee will be added
to each loan you choose to Skip-A-Payment on, and when
payments resume, the unpaid interest will be collected rst.
Credit cards, signature loans or personal lines of credit:
Sandia Area will withdraw $30 from either your Sandia Area
savings or checking, or if you prefer, you can include a check in
the amount of $30, which must be received prior to the Skip-A-
Payment occurring.
You also acknowledge that this request does not change your
legal obligation to the Credit Union, that your agreement
with the Credit Union provides for regular monthly payments
and the Credit Union is merely informally permitting you to
defer payment for the month indicated. Interest will continue
to accrue on the unpaid balances during the month you skip
your payment. The processing fee is non-refundable and
constitutes a Skip-A-Payment request. Payments made through
payroll deductions or direct deposit will be deposited into your
primary savings account during the month you choose to Skip-
A-Payment and will be subsequently available for withdrawal.
For automatic loan payment deductions, this Skip-A-Payment
will aect one month of deductions. If you have a recurring Bill
Payment set to pay your loan, you must stop that with your
Bill Pay provider. The eect of this $30 processing fee will be
to increase the Annual Percentage Rate (APR) and nance
charges on the balance of your loan. The eective APR and the
corresponding nance charge will be disclosed on your periodic
statement.
Equal Opportunity Lender
Federally insured by NCUA
