Skip-Pay Program

Paradise Valley Federal Credit Union


Free up some extra cash by skipping your loan payment

It’s Easy to Apply:

  1. Download and complete the Skip Pay application. 
  2. Return completed form to our branch at 2700 E. 4th St., National City, CA 91950 
    or email to Loans@ParadiseValleyFCU.com

Program Details:

  • To be eligible, you must be a member in good standing with all PVFCU loans current, and have made consistent,
    timely monthly payments.
  • There is a $45 processing fee per loan, per deferral.
  • After completing 6 months of successful loan payments, Skip-Pay can be requested as often as twice during
    every succeeding 12 month period.
  • Skip-Pay requests must be submitted prior to the loan payment due date.
  • This offer excludes real estate-secured loans (Mortgage loans, Home Equity loans, Home Equity Lines of Credit),
    and Visa credit card balances.
  • If your loan is set up with automatic transfer payments, please discuss managing this carefully with your Loan
    Officer once your Skip-Pay application is approved.

Important Program Information:

There is a $45 processing fee to skip each payment on each loan. Finance charges will continue to accrue during the deferral period at the rate disclosed in your original loan agreement resulting in payment of higher finance charges and an extension of the original loan term. All other terms and conditions of your loan agreement remain in force.

When payments resume, unpaid interest will be collected first. You will resume making scheduled payments beginning with the payment due during the month following the deferral and make all scheduled payments due thereafter. These payments will be applied first to finance charges and late charges, if any, and then to principal.

Please be aware that if your payment is made through payroll deduction, direct deposit, or is being transferred from another financial institution, your deduction or transfer will not be stopped. Your payment for the month skipped will be deposited into your PVFCU Share Savings Account and will then be available for withdrawal.

By skipping a payment, the benefit from debit protection products and GAP policies may be reduced by the amount of the payment skipped. Please refer to your GAP policy for complete information.

All applications are subject to the Credit Union’s final approval. PVFCU reserves the
right to deny any Skip-Pay Program request. This offer may be terminated at any time.

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PV Federal Credit Union
2700 E. 4th Street
National City, CA 91950
Phone: (619) 475-4313, or toll free, (800) 253-6991
Fax: (619) 475-0998
E-mail: paradise@paradisevalleyfcu.com
Access 24: (619) 475.2009
Toll free 1 (866) 760.3777