Introducing our Skip-A-Payment Program
At Monroe Telco FCU, we believe in providing exceptional financial solutions to our valued members, and that includes offering flexible options to manage unexpected or seasonal expenses.

We are thrilled to introduce our highly popular and convenient Skip-A-Payment Program.

What is the Skip-A-Payment Program?
Life is full of surprises, when unforeseen expenses arise or you simply need a little extra breathing room during a particular month, you can participate in our Skip-A-Payment Program. Our Skip-A-Payment Program is designed to give you peace of mind by allowing you to defer a monthly loan payment without any penalties or negative impact on your credit score*. The program enables you to skip a payment on eligible loans for a nominal processing fee of $25 per loan. Upon approval, the payment will be deferred (one skipped payment = one monthly payment, two consecutive bi-weekly payments, or four consecutive weekly payments), freeing up funds for other financial obligations or personal needs. It's that simple!

Benefits of the Skip-A-Payment Program
1. Flexibility: The program offers you the flexibility to manage your finances when unexpected expenses arise or if you simply need some breathing room.
2. Convenience: Applying for the Skip-A-Payment Program is hassle-free. You can easily submit your request through our website.
3. No negative impact: Participating in the Skip-A-Payment Program will not affect your credit score or incur any late fees. It's a worry-free solution.
4. Relief during the holidays: The program is especially convenient during the holiday season, when expenses tend to pile up. Use the extra funds to cover gifts, travel, or any other holiday-related costs.

To qualify for the program, you must meet the following criteria:

• All MTFCU loans must be current and in good standing.

• Member must be in good standing with all deposit and investment relationships with MTFCU.

• The loan history must reflect at least 3 months of payments.

• Not all loan types are eligible for Skip-A-Pay. The following loans will not be eligible for the Skip A Payment program:

  • Mortgage loans

  • Money layaway Loans

  • Yes Loans

  • Christmas Loans

  • Credit Cards

  • Loans being paid via Credit Disability or cancelled via Debt Protection

• A Loan payment may be skipped one time per year (12 months).

• Joint and Co-Signed loans require the signature of both applicants.

• Skip-A-Pay forms must be submitted at least (3) business days before the desired “skipped” payment due date.

• Your account must have sufficient funds on deposit to cover the $25 fee.

Ready to make use of the Skip-A-Payment Program?

Simply apply by clicking the “Apply Now!” button below, it will be processed automatically (as long as it meets the above criteria). At Monroe Telco FCU, we strive to offer solutions that make a positive difference in the lives of our members.

*Skip-A-Payment Disclaimer - A $25.00 fee will be charged with each Skip-A-Payment. Skip-A-Payment is subject to Credit Union approval. By utilizing Skip-A-Payment, you acknowledge that MTFCU will be extending your loan and final payment by one month on each loan designated. Interest will continue to accrue on your loan during the month that you skip your payment. Please ensure the information submitted is complete and accurate. Only forms completed and submitted will be eligible for a response. Other restrictions may apply.