Holiday Skip A Payment
The Holiday Season is here!! We can help you free up some extra cash this Season by skipping your Big Island FCU's December loan payment for qualified loans*. It's easy to get started. Just fill out the downloadable form and bring it in to any one of our branches.
Certain restrictions apply. Call us at 808-935-6665 for more information.
*Skip-A-Payment Terms, Fees and Disclosures
- Skip-A-Payment Fee per qualifying loan is $25.00
- Fee(s) will be deducted at the time of request from the Big Island FCU share account selected during the set up process. Request(s) will be denied if there are insufficient funds for fee(s).
- Real Estate loans (all types), Home Equity Lines of Credit, VISA accounts and loans which have been modified or on a Temporary Payment Agreement are not eligible.
- All loans, including loans that you may be a coborrower or cosigner on, more than 10 days past due are not eligible.
- If you caused BIFCU a loss (share or loan) on any individual or joint account, you are not eligible.
- All share accounts must be in good standings. No shares may have a negative balance, and all loans must be current at the time of request.
- FINANCE CHARGES will continue to accrue at the rate provided in your original loan agreement on the outstanding loan balance and will result in additional interest paid as opposed to if you made your payment as originally scheduled. Deferring payment(s) will extend the terms of loan(s) resulting in extra payment(s) after your loan would otherwise be paid off.
- Regular payments will resume on the first regular payment date of the month following the skip.
- If previously elected, Credit Life and/or Credit Disability premiums will continue being added to the loan during the extended term in order for benefits to continue.
- If you have GAP insurance on your automobile loan, the coverage will not extend beyond the original maturity date of the loan nor will GAP cover the deficiency balance arising from skipped payments as disclosed in the Guaranteed Asset Protection Contract.
- All Skip-A-Payment requests are subject to approval. Restrictions may apply.