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Skip A Pay Can Allow You to Skip Your Monthly Loan Payment

Father and son under umbrellaAre you looking for a financial boost, maybe a way to defer existing loan payments? Carolinas Telco Federal Credit Union (CTFCU) now offers Skip A Pay, on qualified loans, for only $29 per request skipped. This service is available year-round, not just for the holidays!

  • Most vehicle, secured, and unsecured personal loans qualify and must be open for a minimum of six months.
  • Some loans, such as a mortgage, home equity, credit card, and share secured loans do not qualify.
  • Application required for each loan skipped.
  • Payment may be deferred once every 12 months, with a maximum of two skips during the life of the loan.
  • All loans with CTFCU must be current to qualify.
  • Once a skip is processed, it cannot be canceled and the fee is non-refundable.

The Skip A Pay Fee

$29 per request


  • A signed application is required. You can print and complete the Skip_A_Pay_Application, then return by mail or fax to 704-391-5648.
  • You can request that the fee be transferred from a Savings or Checking account. Or mail us a check for the fee.

It's simple to do and you’ll have extra cash available for holiday expenses, gifts, or to simply catch up on finances. This service is available year-round, so contact us to skip a qualifying loan at any time. Just remember, we cannot skip each loan but once every 12 months, and no more than twice during the life of the loan. If you have a question regarding your loan and qualification, contact us at 1-800-622-5305.

By participating in the CTFCU Skip A Pay service, you request CTFCU to defer your loan payment as indicated. You agree and understand that:

  1. FINANCE CHARGES will continue to accrue at the rate provided in your original loan agreement, during and after this time.
  2. Deferring your payment will result in having to pay higher FINANCE CHARGES than if you made your payment as originally scheduled.
  3. The payment deferral will extend the terms of your loan(s) and you will have to make an extra payment(s) after your loan(s) would otherwise be paid off (excludes real estate loans and credit cards).
  4. You will be required to resume your payments the following month.
  5. A fee of $29 will be collected at the time of application for this service.

If you elected GAP Insurance Policy on a vehicle loan, the coverage will not be extended more than two months beyond the original maturity date if the Skip A Pay loan has more than two months during the life of the loan. All deferrals are subject to approval and certain restrictions may apply.

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