Skip-A-Pay Program

Life happens and we get it! If you find yourself needing a little extra cash this month, and have an MMFCU auto loan or personal loan, you might be eligible to skip a payment. 

To skip a qualified loan payment, fill out the secure form and list Skip-A-Pay in the message. A $25 per loan processing fee is required to participate in Skip-A-Pay. Once approved, your request will be processed for your next eligible loan payment. The ‘next payment due’ at the time of the request will be deferred to the end of your current contract. 

MMFCU’s Skip-a-Pay service is available for personal and auto loans only (non-real estate) with monthly contracted repayment terms. Loans that have already skipped a loan payment within the last twelve (12) months are not eligible. 

Skip-A-Pay Qualifications 

Qualifications for auto and personal loan skips: 

• Loan is in good standing 
• Must have at least 3 months payment history 
• Must have up-to-date insurance filed for auto loans 
• A payment cannot have been skipped in the last twelve (12) months  

Other terms and conditions may apply 

By participating in MMFCU’s Skip-A-Payment program, you request that MassMutual Federal Credit Union (MMFCU) defer your loan payments as indicated. You agree and understand that: 1) Interest will continue to accrue at the rate provided in your original loan agreement, during and after this time; 2) deferring your payment will result in your having to pay higher total finance charges than if you made your payment as originally scheduled; 3) the payment deferral will extend the terms of your loan(s) and you will have to make extra payment(s) after your loan(s) would otherwise be paid off (excludes certificate secured loans which require a new loan to be executed upon maturity of certificate); 4) you will be required to resume your payments the following month; and 5) an application fee of $25 per loan will be deducted from a checking or savings account for this service at the time the request is processed. If you elected GAP or Mechanical Repair Coverage, the coverage will not be extended beyond the original maturity date. All deferrals are subject to MMFCU’s approval. Your loan(s) must be current (have no amount past due) to accept this offer. Certain restrictions may apply. MMFCU’s Skip-a-Payment Program excludes all real estate loans, Visa ® Credit Cards and Line of Credit loans. This application must be submitted 5 business days prior to payment date or it may be denied.