Skip Payment

Product Features

RTFCU offers the ability to skip payments annually during the peak times of the year when your expenses may be higher than normal.

• You must be a member in good standing.
• All closed-end consumer loans will be eligible for the skip payment program, excluding credit cards, lines of credit and real estate loans/lines.
• The service fee for each skipped loan is $10.00
• Skipped payments will extend the term of the loan.
  • Are you a 10-month school district employee? Talk to us about writing your loan to include the summer skip payments annually without extending your loan term.

You choose what works best for you:

• Summer Skip Payment options include skipping July and/or August; must apply by end of June.
• Holiday Skip Payment options include skipping November and/or December; must apply by end of October.

Skip payments are offered at a maximum of two non-consecutive skip payment options per loan, per calendar year. Eligible loans and Member accounts must be in good standing. If a member has GAP coverage, that coverage only allows one skip payment for the life of the loan that is being covered. A $10 per request fee will be automatically deducted from the Member’s share account immediately upon processing. Interest will continue to accrue increasing the total finance charges paid and extend the term of the loan. Other restrictions may apply.