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Is your budget a little tight this month? IBMSECU’s Skip-A-Payment can help you free up some cash for times like this. It’s extra money just when you need it!*

  • Skip-A-Payment allows you to postpone the due date of your next IBMSECU loan payment by one month
  • A low $30 fee per skipped payment will apply
  • Each loan can use Skip-A-Payment twice per rolling 12-month period and Skip-A-Payment can be used for two consecutive months
  • Skip-A-Payment is available on most IBMSECU loans
  • Skip-A-Payment requests must be received 4 days prior to the due date for loans repaid via ACH transaction
  • If your loan payments are initiated by another financial institution (via ACH) you will need to contact that institution to stop the payment from occurring
  • If your loan payments are paid via any bill payment system, you will need to cancel the payment through the bill payment vendor


1. Log in to Online or Mobile Banking

2. Open the slider menu (3 horizontal lines on the upper left of the screen), then click on the Skip-A-Pay link

3. Select an eligible loan and follow the easy on-screen instructions

You may also come into a branch or contact us at 800.873.5100 and we can process your Skip-A-Payment for you.


How much does Skip-A-Payment cost?

Skip-A-Payment costs a low $30 fee per loan payment skipped. This fee will be automatically deducted from the IBMSECU account you select while requesting the Skip-A-Payment.

How will Skip-A-Payment affect the term of my loan?

For each month’s payment that you skip, the term of your loan will be extended by one month. Interest continues to accrue at your normal loan rate during the skipped payment month. This will result in higher total finance charges and possibly a higher total number of payments than originally scheduled.

Which IBMSECU loans are eligible for Skip-A-Payment?

Most IBMSECU loans are eligible for Skip-A-Payment. Loans that are ineligible include Mortgages, Home Equity Lines of Credit, Visa Credit Cards, Business Loans, Indirect Auto and Recreational Vehicle loans (loan originated through a dealer). Your loan must also be open for at least 12 months and be in good standing to be eligible.

How many times may I use Skip-A-Payment?

You may use Skip-A-Payment twice per rolling 12-month period per loan, with a maximum of 10 skipped payments for the life of the loan. You are allowed to skip two consecutive payments in a row.

Does everyone automatically qualify for a skipped payment?

There are certain qualifications that must be met in order for your loan payment to be qualified. If your loan payment deferral was denied, a Credit Union representative can help you understand the reason for the denial.

* Interest charges will continue to accrue on a daily basis at the Annual Percentage Rate (APR) set forth in your original loan agreement, both during and after the IBM Southeast Employees’ Credit Union (IBMSECU) Skip-A-Payment deferral period. Accrued interest during the extension period will be paid before any payments to principal when payments are resumed. This means that your payment deferral will result in higher total finance charges, and may increase the total number of payments due than if you had made your payments as originally scheduled. Therefore, extra payment(s) may have to be made after your loan would otherwise have been paid off under your original loan terms. In all other respects, the provisions of your original loan agreement remain in full force and effect. All Skip-A-Payment requests must be received at least four (4) business days prior to your loan due date. If you have a bill payment or Automated Clearing House (ACH) transaction scheduled with another financial institution which automatically makes your loan payment, you must contact that institution to stop the payment from occurring. By registering for the Skip-A-Payment service, you accept full responsibility and agree to hold IBMSECU harmless from any and all liabilities. Your regularly scheduled payments will resume with the payment for the month following the deferral (“skip period”.) This may affect the Credit Protection Insurance, Guaranteed Asset Protection (GAP) or Extended Warranty coverage on your vehicle loan(s). A $30.00 Skip-A-Payment processing fee per loan will be automatically deducted from your IBMSECU account upon registration and approval of the service. The Skip-A-Payment service is only available on select consumer loan types, and is subject to final approval by IBMSECU. Two (2) skipped payments may be used on a loan in a rolling twelve (12) month period; consecutive month skipped payments are allowed. A maximum of ten (10) skipped payments are allowed in a loan’s term.


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