Skip A Pay
Relax ... skip your payment!
Budget need a little breathing room? If you qualify for our Skip Payment program and you can skip your eligible Founders loan payment and keep the cash.
Complete your Skip A Pay request in Founders Online by the last day of the month to skip your next month’s payment.
Our Skip Payment program is available only to loans advanced (add-ons) or loans originated at least six (6) months prior to your Skip A Pay request.
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What happens to my skipped payment?
If you are approved for your Skip A Pay, the additional payment is added to the end of your loan for a $25 fee, which is also added to the loan amount.
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Which loans can be skipped?
- Personal Loans
- Auto/Vehicle Loans
- Other Personal Property Loans
- Savings/Certificate Loans
- Secured Loans
- Watercraft Loans
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Which loans are not eligible for Skip A Pay?
- Real Estate Loans
- Express loans
- Indirect loans
- ArrowPointe FCU loans with GAP
- Credit Cards
- Lines of Credit
- Education Loans
- Accounts included in bankruptcy or foreclosure
- Single, annual, semi-annual, or quarterly payment loans.
- Loans with extensions or alternate payments in the past (6) months,
- Loans with added collateral protection insurance
- Members who have caused losses to the credit union (loans, credit cards, savings, etc.)
- Members who have negative savings account(s)
- Members who have delinquent loan(s) in the past six (6) months
- Or loans modified through troubled debt restructuring
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How do I apply to skip my next payment?
Log in to Founders Online and navigate to the Skip A Pay menu option. If you qualify to skip one of your loan payments the Skip A Pay request form will load when you select the menu option. If you don't currently have a loan eligible for Skip A Pay you will receive a Skip A Pay not eligible message. If you don't have an eligible Skip A Pay it could be because the offer is limited to two (2) skips per calendar year with a minimum of three (3) months of payments between skip payment requests.
Once the form displays, follow the step by step instructions to complete your Skip A Pay request. Be sure to make the current month's payment so your Skip A Pay will process.