Skip a Loan Payment

If you make your loan payment automatically by direct deposit or payroll deduction, your payment wil be transferred to your savings account, where it will be available for immediate withdrawal.  A $75 service charge will be added to the balance of each loan skipped.  

By signing below, you authorize ASECU to advance your loan due date by one month and understand that this may extend the maturity date of your loan. A $75 service charge will be added to the balance of each loan skipped. Interest will continue to accrue on the unpaid balance during the month skipped and when payments resume, the unpaid interest will be collected first. Members must be in good standing and current on all loans to participate. Payments made through payroll deduction or direct deposit will be transferred to your savings account the month you choose to skip. First and second mortgage loans, home equity loans or lines of credit, credit cards and loans newer than six (6) months are not eligible. Maximum of 6 skips per loan. If you have purchased GAP insurance, the amount of coverage will be diminished if you exceed 5 skip-a-pays during the life of your loan. ASECU reserves the right to refuse any Skip-a-Payment request.  All borrowers must sign. Offer expires January 31, 2024.

Electronic Signature: You consent and agree that your use of a key pad, mouse or other device to select an item, button, icon or similar act/action while using any electronic service we offer; or in accessing or making any transactions regarding any agreement, acknowledgement, consent, terms, disclosures or conditions constitutes your signature, acceptance and agreement as if actually signed by you in writing. Further, you agree that no certification authority or other third party verification is necessary to validate your electronic signature; and that the lack of such certification or third party verification will not in any way affect the enforceability of your signature or resulting contract between you and ASECU.

You understand and agree that your e-Signature executed in conjunction with the electronic submission of your application and/or form shall be legally binding and such transaction shall be considered authorized by you.

By signing below, I acknowledge that the information I have provided is correct. I assume full responsibility for the accuracy and relieve Associated School Employees Credit Union (ASECU) of any responsibility for transactions I make in accordance with these instructions and hold ASECU harmless. In addition, I also acknowledge that I have been given the ASECU Account Agreement and Schedule of Fees. I accept the terms and conditions herein, with the understanding that they may be changed by ASECU at any time with prior notice. This authorization will remain in effect until revoked in writing.