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 $30 fee per loan for each monthly payment skipped (Due at the time of application. If application is denied, then the member will be refunded).

  • One complete monthly payment will be deferred.

  • Members must make at least 12 monthly payments since loan origination before they are eligible to skip a payment.

  • Maximum number of skips is one (1) per year of the loan term after the first year.

  • 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 and must be received one (1) week prior to the next scheduled payment.

  • Not offered for Home Equity loans, Lines of Credit, or Credit Card products.

  • No borrower can be delinquent on any loan or debt owed to RVA-FPCU. Share account must be in good standing.