Skip A Loan Payment

Everyone needs a little help with cash flow from time to time. To help stretch your budget, you may be eligible to skip a loan payment once every calendar year.1 It's one of the unique benefits of Arizona Central membership.

How to skip a payment

There are two (2) ways:

  1. Paper - The primary member and the loan co-borrower/co-signer (if applicable) must first complete the Skip-A-Payment Amendment form. If there is a co-borrower/co-signer on the loan, please print and mail in the completed form with both the primary member’s and the co-borrower/co-signer’s signatures.
  2. Online - Registered eBRANCH users can complete and submit the form online provided there is no co-borrower/co-signer on the loan. Once logged into eBRANCH (see the above login in the right hand corner), look for "Online Forms" and click to access the form.

Further Details

Submit the completed Skip-A-Payment Amendment form at least 10 days before payment is due but no more than 30 days prior to the due date.

There is a $25 processing fee for each loan payment you want to skip. The form and fee can be submitted at any Arizona Central branch for the total amount due or complete the Skip-a-Payment Amendment form to deduct funds (you may be eligible to waive this fee through your Central Points™ Rewards.

If you use payroll deduction or automatic transfers for your loan payment from an Arizona Central account, when your skip payment is approved, the funds which would normally be applied to your loan will now be available for other needs. If your loan payment comes from another financial institution, contact them to cancel payment for the month you wish to skip.

On qualifying loans, interest will continue to accrue during the waived payment period. The $25 processing fee does not reduce the principal.

Other conditions and restrictions may apply. If you are not approved for the Skip-A-Payment, you will be notified by phone or e-mail within 7-10 business days.

Loans that do not qualify for Skip a Loan Payment include:

  • Visa® credit cards
  • Lines of credit
  • Mortgage & home equity loans
  • Certificate-secured loans
  • Business loans
  • Currently delinquent loans
  • Accounts with unpaid fees
  • Initial payment on new loans

1 Skip a Loan Payment cannot be used in 2 consecutive months (i.e., December of 2016 and January of 2017).