Free Up Your Budget With Our Skip Payment Program!
Life gets busy, and expenses can pile up fast. If you could use a little extra room in your budget, Arbor Financial is here to help. Our Skip Payment Program lets you pause a loan payment when you need it, giving you more flexibility to manage bills, handle surprises, or simply catch your breath.
How to Skip a Payment
Skipping a payment is easy in Mobile & Online Banking!
Getting started is easy. In Mobile & Online Banking, open the main menu and select Services, then tap Skip Payments. From there, choose the eligible loan you’d like to skip and the month you’d like to skip. Don't have Mobile & Online Banking? Enrolling is easy. Just click the enroll button on the login page to get started, or stop into any branch to skip a payment or call 269.375.6702 ext 3209.
Here's what you need to know:
- Skip payments up to 2 months per calendar year.
- A maximum of 8 skip payments are allowed over the life of your loan.
- Eligible loans include auto, RV, boat, Motorcycle, or personal loans.
- Requests must be submitted at least 7 days before your payment due date.
- At least 3 consecutive payments must be made on the loan before your first skip.
- A $35 fee applies per loan, per skipped month.
- Skip‑a‑Payment is not available for mortgages, certificate‑secured loans, credit cards, fixed‑rate home equity loans, lines of credit, business loans, Fresh Start auto loans, or any delinquent loans.
Skipping the loan payment(s) will extend the loan (s) term (s). Interest will continue to accrue, and the final payment of the loan(s) will be different because of this loan extension. GAP claims may be affected. All other terms and conditions of the loan(s) will remain the same. We reserve the right to revoke this opportunity if your account is delinquent. This offer does not apply to first mortgages, HELOC's, certificate secured loans, credit cards, fixed-rate home equity loans, personal lines of credit, business loans, fresh start auto loans, or new loans with less than three consecutive payments. No more than two (2) consecutive payments per loan may be skipped, and no more than eight (8) for the life of the loan. Arbor Financial Credit Union will make an electronic transfer for the $35 skip payment fee. You must be the owner or authorized signer on the account from which the funds are transferred. If funds are not available, then the credit union will not complete this request.