Skip-A-Payment

skip-a-pay header graphic

Need some extra cash this month? For a $30 fee, it's easy to skip a payment on your GICU consumer or auto loan with our Skip-A-Payment option. If you have more than one monthly consumer loan payment that you would like to skip, you'll pay the $30 fee for each loan.

If you elect to take advantage of the Skip-A-Payment offer, please note interest will continue to accrue on the unpaid balance for revolving loans and installment loans where interest is computed on a simple interest basis. For installment loans, repayment of the loan payment skipped must be made at the end of the loan term. All Skip-A-Payment requests are subject to approval. Other restrictions may apply.

Complete the Skip-A-Payment form and either mail to address noted below or bring in to any branch location. The $30 fee can either be direct debited from the member's savings / checking account or can be paid by check.

Download Form

To mail form, send to:
Greater Iowa Credit Union
Attn: Skip A Payment
PO Box 665
Ames, IA 50010

All parties to the original loan agreement, including co-borrowers, must sign the Skip-A-Payment form. Signing this document indicates that you agree to the terms and conditions.


TERMS & CONDITIONS

You must be in good standing with the credit union. This means all loans and account balances must be current when the Skip-A-Payment coupon is received by the credit union.

The skip-a-payment offer requires that the previous three months of payments have been made. This service is limited to two times in any rolling 12 month period and a maximum of six per loan.

There will be a $30 per loan fee to take advantage of this offer.

Some loans may not qualify for this offer, including but not limited to, mortgages, home equity, personal lines of credit and credit cards.

Interest accrual will continue during this period.