Skip-a-Pay Fee

By submitting a Skip-a-Pay request, the member agrees to PrimeWay Federal Credit Union advancing the due date of their eligible loan by one month; and agrees to the $25 per loan Skip-a-Pay processing fee to be deducted from their selected account or advanced from the loan, as indicated in their request.  (The $25 Skip-a-Pay fee is waived for July 2024 due to Hurricane Beryl.)

Skipping a payment will extend the loan term, and interest continues to accrue during the deferral period. Auto loans with Guaranteed Asset Protection (GAP) coverage may experience a deficiency balance in the event of a total loss due to extending the loan term. Any deficiency balance remains the member’s responsibility.