When You Need Extra Cash – Skip a Payment!
At Niagara’s Choice we want to help you meet your financial goals. We know the rising costs of groceries, rent, gas and other necessities put a strain on your finances. We are here to help when times are tight. Using our Skip a Pay* service can help you stay on track with your monthly budget. This new program lets you skip a payment on select Niagara’s Choice loans to free up your much needed cash.
You are eligible to skip a payment if all of your Niagara’s Choice loans are current and you are a member in good standing at the time of your request.
- Skip a Pay request must be received at least 10 days prior to the loan payment due date
- At least 9 payments must be made on a loan before it can be considered for a Skip a Pay
- Members may skip up to two payments in a calendar year
- The following loans are eligible for Skip a Pay: Auto, Signature, recreational vehicle
- The following loans are NOT eligible for Skip a Pay: Real Estate, Personal Lines of Credit, Mastercard, Commercial Loans, Commercial Lines of Credit, Overdraft Protection
- There is a $25.00 fee per skipped payment. This fee will be withdrawn from your share account. Funds must be available at the time the skip a pay is requested.
It is important to note that the interest on your loan will still accrue during the waived payment period. The payment you skip is deferred but will automatically extend the loan maturity date by one month.
