Posted on October 26, 2021 | Special

Downeast Credit Union is currently offering our Holiday Skip-A-Payment program. This means that you can choose to skip the November, December or January payment on your eligible credit union loan.

Have more than one eligible loan? Skip a payment on each!

There is a processing fee of $39.00 for each loan payment skipped. The fee will either be deducted from your account, or a check can be made payable to Downeast Credit Union.

Exclusions include, but are not limited to, real estate secured loans, open end lines of credit (including Visa credit cards), whatever loans, single payment notes and loans to build or rebuild credit. All DECU accounts must be in good standing. Additionally, loans with more than two (2) payments skipped this year are ineligible.

I understand that returning this coupon, does not guarantee my loan is eligible for a Skip. I also understand if I fail to return this coupon within the five (5) days before the due date of the monthly payment I would like to skip, I will be required to make the payment due at that time and the skip will be applied to the next scheduled installment. If my payment is subject to transfer, it will occur as scheduled. If I have insufficient funds at the time of the transfer, I understand I may be subject to late fees as outlined in my loan agreement(s). Payments posted to the loan(s) cannot be refunded.

Interest will continue to accrue on unpaid balances through the skipped payment period and the term of your loan(s) will be extended.

The Credit Union reserves the right to rescind this offer if any of your accounts are in default or if conditions or criteria are not met.

Offer expires on January 31, 2022. After the skipped payment period, the normal monthly payment will resume on the first due date following the skipped payment period.

Apply for Skip-A-Pay Here

Simply complete the application and return it to us by mail to: DECU, P.O. Box 130 Baileyville, ME 04694, or by dropping it off at the branch location nearest you. If you have set up an automatic transfer from Online Banking or another financial institution, don’t forget to stop your payment through that service.

We’ll process the rest so you can enjoy the holidays!

*Skipped payments do not extend the term of any credit insurance policy you may have obtained though the credit union or other coverages in connection with your loan. Examples include but are not limited to Credit Life, Credit Disability, Debt Cancellation, GAP, or Vehicle Service Contract. By signing the application, you authorize Downeast Credit Union to extend the due date of your final loan payment by one month. The $39.00 processing fee per loan will be deducted from your account selected above unless payment is enclosed. Interest will continue to accrue on unpaid balances through skipped payment period. Equal Housing Opportunity and Federally Insured by NCUA.