UTFCU understands that finances can be a bit tight from time to time. If you are a qualified member, you have the option to skip a loan payment once per 12-month period. You can use this benefit any month of the year!
While interest will continue to accrue during the skipped month, the skipped payment is added to the end of the loan term — giving you a temporary reprieve.
How to Skip Your Next Payment
Skips are not automatic and must be scheduled with UTFCU. The process is easy, just follow these steps:
- Contact UTFCU to verify eligibility and schedule your skipped payment. You can call us at (865) 971-1971, stop by any branch, or send us a secure message in online banking.
- Review, sign, and return the Skip-A-Payment form UTFCU provides you.
- Prepare to have $35 in your UTFCU account at the time of your scheduled skip. Your skip will not process without paying this fee.
- Sit back and watch your regular loan payment go away for the month!
Not automatic. Not available on all loans. Members must schedule a Skip-a-Payment. $35 fee per loan. No discount for multiple loans. Loan payments must be current or within the grace period of that loan. All of the member’s accounts must be in good standing [i.e., no negative share or checking accounts, no history of serious delinquency, etc.] Limited to one skipped loan payment in a 12 month time frame.Go to main navigation