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Q: How do I request for Community Credit Union Skip-a-Payment Program?
A: You can complete the online form or you can print the form out and mail it to our Lending Department:
Community Credit Union
32 Central Street
Peabody, MA 01960


Q: How do I qualify for the Skip-A-Payment Program?
A: The borrower(s) must be current on all credit obligations with Community Credit Union and all loans must be in good standing for six (6) consecutive months. The following loan types are eligible for this Program: Credit Card, New and Used Auto, New and Used Motorcycle, Personal Unsecured and Personal Secured Loans. You must submit a Skip-A-Payment request at least fourteen (14) calendar days prior to the due date you wish to skip. Your request is subject to approval by our Lending Department. Click here to download a copy of the Community Credit Union Skip-A-Payment Request Form.

NOTE: Home equity line of credit, real estate loans, or open-end loan types are not eligible for Skip-A-Payment program.


Q: How does skipping a payment affect my loan?
A: Interest will continue to accrue on your loan during the Skip-A-Payment period. Your loan repayment schedule will be extended and your final loan payment amount will change due to the accrued interest. Deferring your payment will result in paying additional interest. All other terms and provisions of your loan will remain the same. You will be required to resume your payments at the next scheduled due date.


Q: How does the program work?
A: Upon approval of your Skip-A-Payment request, your loan payment due date will be advanced to the next month. Interest will continue to accrue on the loan. On your next payment due date, you will be responsible for your standard monthly payment.


Q: How often and how many times can I Skip a Payment?
A: Under the Skip-A-Payment Program, eligible loans are limited to two (2) Skip-A-Payment per calendar year up to a maximum of five (5) per loan term. No consecutive skips allowed.


Q: If I do not want to skip my payment now, can I do it some other month?
A: Yes, this program is now available year-round-one skip every six (6) months.



Q: If my loan payment is set up on automatic payment (ACH), can I still participate in the Skip-a-Payment program?
A: Automatic Payments with Community Credit Union. We will suspend your payment for the skipped month and resume the following month. If you setup a recurring payment yourself via Community Credit Union’s website loan payment services, you will need to cancel the recurring payment and create a new one for the following month.

Automatic Payments from Another Financial Institution’s Online Banking. You will need to cancel the recurring payment and create a new one to begin the following month. Automatic Payment from Another Financial Institution. You will need to contact that financial institution and ask them to suspend the skipped month’s ACH and resume the following month.


Q: Is there a fee for accepting the Skip-A-Pay offer?
A: No. There is no fee associated with this request.


Q: My loan has a co-borrower. Do they need to sign the request form as well?
A: Yes, both the primary borrower and co-borrower must sign the Skip-A-Payment request form.


Q: My payment was due yesterday. Is it too late to skip?
A: Yes, you must submit your Skip-A-Payment request at least 14 calendar days prior to your due date.


Q: What do I do if I need assistance in processing my request?
A: Contact our Member Services (800)862-7009 or your nearest Community Credit Union branch for assistance.


Q: What types of loans are eligible for Skip-A-Payment?
A: The following loan types, eligible for this Program are Credit Card, New and Used Auto, New and Used Motorcycle, Personal Unsecured and Personal Secured Loans. Loans of any type with active life and/or disability credit insurance are ineligible. However, several factors may cause a loan to be ineligible for Skip-A-Payment. Please contact a representative at Community Credit Union.


Q: When can I apply to Skip-A-Payment?
A: Complete and signed skip payment requests must be received at least 14 calendar days before your due date in order to skip that month’s payment.


Q: Who is eligible to participate in Skip-a-Payment program?
A: Members with eligible loan types open for at least 6 months with no prior or current delinquencies maybe eligible to participate in the Skip-A-Payment Program. Other restrictions may apply.  Community Credit union reserves the right to deny any Skip-A-Payment request.


Q: Why can’t I skip my Real Estate loan payment?
A: Real Estate loans have special regulations that prevent us from offering this service.


Q: Will I still be charged interest if my payment is skipped?
A: Yes, interest will accrue even though your payment is deferred.
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