Skip-A-Pay allows qualified borrowers to skip one payment on an eligible loan each calendar year up to 6 times per loan. When approved, you may use Skip-A-Pay to allow some extra funds for school shopping, tax time, Christmas shopping, or any time of the year at your choosing.

Most consumer loans are eligible for Skip-A-Pay. Eligible loans include Auto Loans, Non-Balloon Recreational Vehicle Loans, Non-Balloon Share Secured Loans, and Signature Loans.

For expedited processing and maximum convenience, apply now within Online Banking. You may also Contact us for a Skip-A-Pay application form.

No. Applications for Skip-A-Pay must be submitted at least five business days before your payment due date.

No. Loans must be active on your account for at least 1 month with 1 monthly payment before they are eligible for Skip-A-Pay.

Yes. There is a non-refundable application fee of $25 per request.

Your $25 application fee must be available in your Dow Credit Union checking or savings account and will be withdrawn by Dow Credit Union upon receipt of your application.

No. All of your Dow Credit Union accounts must be current and in good standing to qualify for this service. Your accounts can not be past due, overdrawn, nor can there be any protective advances for past due real estate taxes or active force placed insurance coverage, and there cannot be any type of legal action pending.

No. Skip-A-Pay cannot be used in consecutive months.

Yes. We will take care of suspending your automatic payment if it is drawn from your account or payroll deductions that deposit to Dow Credit Union. If your automatic pay is set up at another institution you will be responsible for suspending the payment for the month you use the Skip-A-Pay service.

Yes, Dow Credit Union's GAP coverage does allow use of Skip-A-Pays. Some limitation may apply. If your GAP coverage is with another carrier, review your contract to determine how Skip-A-Pay may affect your coverage.

Skip-A-Pay will extend the term of your loan by approximately one month each time you use this service. Interest will continue to accrue on your current balance during the month you chose to Skip-A-Pay. Your next loan payment is applied first to the accrued interest and then the remaining amount is applied to the principal balance.