Maximize Your Back-to-School Budget with Skip a Pay*
As the back-to-school season approaches, many families face the challenge of managing extra expenses for school supplies, new clothes, and other essentials.
At Northwoods Credit Union, we understand these financial demands and want to help our members make the most of their budgets. That’s why we offer the Skip-a-Pay option, a valuable benefit that allows eligible members to skip one loan payment a year.
What is Skip a Pay?
Skip-a-Pay is a flexible feature designed to give you a break when you need it most. By skipping a loan payment, you can free up some cash flow to cover unexpected expenses without the stress of falling behind on your financial commitments. Whether it’s for back-to-school costs or another significant life event, Skip-a-Pay can provide the financial relief you need.
How Does It Work?
- Eligibility: To take advantage of Skip-a-Pay, members need to meet certain eligibility criteria. These typically include having your loan in good standing and being current with your payments. Our team at Northwoods Credit Union is here to help you understand if you qualify.
- Application: Applying for Skip-a-Pay is simple. You can complete the process online through our website or visit one of our branches. Our friendly staff is always ready to assist you with any questions you might have.
- Approval: Once approved, you can skip one loan payment for the year. The skipped payment is usually added to the end of your loan term, allowing you to enjoy the immediate financial relief without significant long-term impact.
Why Choose Skip a Pay?
- Immediate Relief: Free up cash flow instantly to manage seasonal expenses.
- Flexible Use: Use the extra funds for school supplies, clothing, or other back-to-school necessities this time of year.
- Simple Process: Easy application and quick decision process mean you can take advantage of this benefit without hassle.
Make the Most of Your Membership
At Northwoods Credit Union, we’re dedicated to supporting our members through every stage of life. Skip-a-Pay is just one of the many ways we strive to make banking with us more convenient and beneficial. This back-to-school season, let us help you ease the financial burden and focus on what matters most – your family.
Apply To Skip a Loan Payment Today
Don’t let back-to-school expenses overwhelm you. Take advantage of our Skip-a-Pay option and enjoy a stress-free start to the school year. Apply now and make the most of your Northwoods Credit Union membership!
*NCU is not able to extend this offer to the following types of loans: mortgage, line of credit, workout, holiday, overdraft, wise choice auto financing, loans with late payments in the past six months and/or loans opened within the last six months. Only one skip-a-pay (SAP) allowed per loan, per year. If refinanced or traded in-SAP may not be used until after first payment made.Not all will qualify.Other restrictions may apply. Interest will continue to accrue during time payment is not made.NCU is an Equal Housing Opportunity lender. Membership eligibility required. NCU is insured by NCUA.