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Skip-a-Pay

Skate Past Your Payment with Skip-a-Pay

Put your payment on ice, and take advantage of our Skip-a-Pay program, and skip any eligible loan payment.

How do you take advantage?

To skip your upcoming loan payment(s), you'll simply need to:

  1. Fill out the form by clicking the buttons below to download the skip-a-pay application. If you have more than one borrower on your loan, all borrowers will need to sign before the skip-a-pay can be completed.
  2. Submit your non-refundable processing fee per payment skipped using one of the payment methods below. Payment must be submitted before your skip-a-pay can be completed. 

There is a non-refundable processing fee per payment skipped that must be paid when the authorization form is completed.

Skip-a-Pay fees:

  • If your loan payment is between $100-$250, a Skip-a-Pay fee of $25 will be charged.
  • If your loan payment is between $250.01-$500, a Skip-a-Pay fee of 10% of the payment rounded down to the nearest dollar will be charged. (Ex. If your loan payment is $275.50, your Skip-a-Pay fee will be $27)
  • If your loan payment is more than $500, a Skip-a-Pay fee of $50 will be charged.

To pay the fee:

This program is not available for credit cards, mortgages, or home equity loans. To qualify for Skip-a-Pay on loans at another lender, you must apply for new credit with ESCU and meet all credit union credit qualifications. Contact ESCU for complete details and other restrictions. 

*Your transaction will be processed on or after the date on the Skip-a-Pay form. If you have inquiries or would like to revoke the authorization prior to processing this transaction, you may call or text Electro Savings Credit Union at 314.434.6470. By choosing this option you are authorizing Electro Savings Credit Union to initiate a one-time debit to your card number listed on the form for the amount of your Skip-a-Pay fee.

Accepted Card Types
Visa-Debit Cards
Mastercard-Debit Cards

Skip-a-Pay today!

Call or text us at 314.434.6470, download the form (PDF) and mail it to 1805 Craigshire Road, Maryland Heights, MO 63146, email it to [email protected], fax it to 314.628.2589 or bring it to a branch location, or visit any branch location to complete and sign the authorization form. There is a non-refundable processing fee per payment skipped that must be paid when the authorization form is completed. See above for payment instructions and fee amount.

Download Form

This program is not available for credit cards, mortgages, or home equity loans. To qualify for Skip-a-Pay on loans at another lender, you must apply for new credit with ESCU and meet all credit union credit qualifications. Contact ESCU for complete details and other restrictions.

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Skip-a-Pay FAQs

How do I participate in the Skip-a-Pay program?

Email [email protected], call or text 314.434.6470, download the form and email, fax or bring it to your nearest branch, or visit a branch location. Please note: the authorization form must be signed and returned by all borrowers a minimum of 2 business days prior to the due date. If submitting your request electronically, please allow a minimum of 5 business days before your payment is due for processing.

There is a non-refundable processing fee per payment skipped that must be paid when the authorization form is completed.

Skip-a-Pay fees:

  • If your loan payment is between $100-$250, a Skip-a-Pay fee of $25 will be charged.
  • If your loan payment is between $250.01-$500, a Skip-a-Pay fee of 10% of the payment rounded down to the nearest dollar will be charged. (Ex. If your loan payment is $275.50, your Skip-a-Pay fee will be $27)
  • If your loan payment is more than $500, a Skip-a-Pay fee of $50 will be charged.

To pay the fee:

  • Use your debit card* (For debit payments there is a $10.00 convenience fee)
  • Deposit cash or check into your Electro savings account at any Electro Savings branch or Shared Branch
  • Download our mobile app through the Apple iTunes Store or Google Play Store to deposit a check using Mobile Deposit
  • Send funds via your other financial institution (if available) to your Electro savings account

*Your transaction will be processed on or after the date on the Skip a Pay form. If you have inquiries or would like to revoke the authorization prior to processing this transaction, you may contact Electro Savings Credit Union at 314.434.6470. By choosing this option you are authorizing Electro Savings Credit Union to initiate a one-time debit to your card number listed on the form for the amount of your Skip-a-Pay fee.

Accepted Card Types
Visa-Debit Cards
Mastercard-Debit Cards

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A borrower on my loan doesn't live in the area or isn't available to visit a branch to sign the authorization. Can I still skip my payment?

Yes. An authorization form can be emailed individually via DocuSign to all borrowers on the loan. Please allow a minimum of 5 business days before your payment is due for processing.

When do I pay the Skip-a-Pay fee?

When the authorization form is signed by all borrowers and submitted to Electro, the fee must be paid by cash, credit/debit, check or via transfer from an Electro account. If you've requested to skip your payment electronically, the fee will be deducted from the account you specify on the authorization form after all signatures have been received. 

What loans qualify for the Skip-a-Pay program?

Conventional automobile, motorcycle, boat, RV, and signature loans.

What loans don't qualify for the Skip-a-Pay program?

First mortgages, home equity loans, credit cards, and short-term emergency loans.

Can I skip a payment that is past due?

No. The loan must be current and in good standing in order to skip a payment.

Why don't all of my loans qualify for the Skip-a-Pay program?

There may be several reasons, which could include:

  • The loan may be one of the excluded loans listed above
  • You may not have made three full payments on the loan yet
  • You may have had a late payment that currently disqualified a particular loan from the program
  • Your loan balance is less than $600
  • Your loan payment is less than $100
  • You already deferred a payment on your loan in 2023

Electro Savings also reserves the right to refuse a Skip-a-Pay request if you've recently been delinquent in your payment obligations and/or have had any other status changes in relation to your loan(s) with us.

Can this offer affect my GAP coverage?

GAP (Guaranteed Auto Protection) provides you financial protection in case your vehicle is stolen or totaled in an accident. Some GAP policies may become invalid if loan payments are skipped. Please refer to the terms of your GAP policy for more information on how participating in the Skip-a-Pay program may affect coverage.

I've established scheduled/recurring payments for my loan through a different financial institution. Can I still skip my payment?

Yes. However, you're responsible for canceling and rescheduling your payments if you decide to skip your payment.

Will skipping a loan payment affect my credit?

No. Because this is a program offered by the credit union, it will not have any negative effects on your credit. However, it does extend the loan's term, plus applicable interest and could affect your GAP coverage.