When unexpected expenses put a strain on your budget, Redwood Credit Union’s Skip-a-Pay service allows you to defer your loan payment on select qualifying consumer loans up to two times in a twelve-month rolling period.
How it works
For a $25 fee, you can defer your next month’s loan payment on select qualifying consumer loans as follows:
- Closed-end loans with an original balance of $10,000 or greater, including select vehicle, recreational vehicle, signature, and solar loans.
- Open-end loans with a minimum payment of $100 or more, including personal lines of credit and credit cards.
If your loan is eligible, simply log in to digital banking and follow this step-by-step guide to have your request processed.
Loans ineligible for Skip-a-Pay:
Mortgages, home equity loans and lines of credit, business loans, certain vehicle loans, loans with fewer than six payments made, delinquent loans, and loans with a minimum payment of less than $100 are not eligible for the Skip-a-Pay program. Certain restrictions may apply.
Redwood Credit Union is here to help. If you are facing a financial hardship, visit our Financial Assistance resource page or call us at 1 (866) 479-2800.
If you're using a mobile device, follow the steps below. For computers, go to the desktop steps
Select Menu at bottom right.
Select More, then select Skip-a-Pay.
Note: You can also select Skip-a-Pay from the details page of any eligible account.
Review terms of service agreement and select Accept & Continue.
Select an eligible Loan Account to Skip-a-Pay, then select Next.
Select an account to Pay fee from, then select Review.
Review your Skip-a-Pay. To continue, select Submit. To exit, select Cancel, or to make changes, select Edit.
You have successfully requested to a Skip-a-Pay.
Note: You will need to update any autopayments coming from outside RCU. If you have autopay set up from an RCU account, the new payment date will be updated automatically.
If you're using a computer, follow the steps below. For mobile devices, go to the mobile steps
Select the three-dot menu, then select Skip-a-Pay.
Note: You can also select Skip-a-Pay from the details page of any eligible account.
Review terms of service agreement, then select Accept & Continue.
Select an eligible Loan Account to Skip-a-Pay, then select Next.
Select an account to Pay fee from then, select Review.
Review your Skip-a-Pay details. To continue, select Submit. To exit, select Cancel, or to make changes, select Edit.
You have successfully requested to a Skip-a-Pay.
Note: You will need to update any autopayments coming from outside RCU. If you have autopay set up from an RCU account, the new payment date will be updated automatically.