Skip-a-Pay

At RVA-FPCU we understand that there are times when members may need to skip their loan payments.  To help during these times, the RVA-FPCU offers a Skip-a-Payment program to qualified members.  Below are details about this program.  Refer to the Application for specific disclosures and restrictions. 


Skip-A-Payment Program Details

  • Must pay a $25 fee per loan for each monthly payment skipped (Due at the time of application. If application is denied, then the member will be refunded).

  • A full monthly payment is skipped (which means two bi-weekly payments if on payroll deduction).

  • Member must make 6 consecutive payments before, they are eligible to skip a payment. Example: If a member skips a loan payment in January, they will not be eligible again until September.

  • Interest continues to accrue on your loan and the time it takes to repay your loan will be extended by the skipped period.

  • A completed Application signed by all borrowers is required.

  • Not offered for Home Equity Loans or credit card products.

  • No borrower can be delinquent on any loan or debt owed to RVA-FPCU.