Skip-A-Pay: Take a Break from Your Loan Payment

Need extra cash for the holidays, back-to-school shopping, or even tax time? CSE’s Skip-A-Pay lets you skip one eligible loan payment each year—so you can use those funds where you need them most, without falling behind.

How It Works:

  • Skip one eligible loan payment per calendar year

  • Loan must be current (cannot be your first payment)

  • Interest will still accrue, and your loan term will extend beyond its original maturity

  • If your loan has Credit Life and/or Disability Insurance, the monthly premium will still be added during your skipped month

  • If your loan has GAP insurance, you may skip up to five payments over the life of the loan; exceeding this limit could affect GAP coverage

  • All borrowers on the loan must sign the Skip-A-Pay form

Request a Skip-A-Pay

Important Information Regarding CSE’s Skip-A-Pay Program

Please read:

  • View the current Fee Schedule for fee information

  • A loan must be current, and it cannot be the first payment

  • The interest will continue to accrue, and the skipped payment will cause the loan to extend beyond the original maturity

  • If the loan is insured with Credit Life and/or Disability insurance, the monthly premium for coverage will still be added to the loan for the skipped month

  • If the loan has GAP insurance, Members are allowed five skips per the life of the loan; if members exceed that, the GAP insurance may not cover the remaining balance of the loan

  • Members may take advantage of this offer one time during each calendar year. Members cannot have consecutive Skip-A-Pays in December and January. All parties of the original loan agreement must sign the Skip-A-Pay form

  • After a one-time board extension is granted, only one Skip-A-Pay can be granted after 12 consecutive full payments for the life of the loan

  • Loans that are not eligible and do not qualify for the Skip-A-Pay are:

    • Real estate, land, and HELOC loans

    • Delinquent loans and accounts that are not in good standing

    • Share accounts or share draft accounts currently in overdraft are not eligible

    • Loans previously approved for a workout loan are not eligible

    • Loans that have had a monthly extension in the calendar year are not eligible

  • Signed Skip-a-Pay Agreements must be received at least one day before payment is due