Skip a Payment on Your Schedule

Exciting changes have come to Texell’s popular Skip-a-pay program!

  1. You can skip your eligible loan payments up to two times every twelve months. You cannot skip back-to-back payments (for example January and February).
  2. You choose the month(s) you skip you loan payment. It’s not just a holiday promotion anymore!

Sometimes you need a break from paying your loan every month to free up money for other uses. With Texell’s Skip-a-pay, you can skip your eligible loan payment twice every twelve months.

Just imagine your options…

  • Need extra money for Christmas and a summer vacation? Skip your December and June loan payments! 
  • Air conditioner goes out in August? Skip your payment! 
  • Surprise on your tax return? Skip your April payment!

Save $10 when you skip your payment through e-Branch Home Banking!

Skip-a-pay is available for a low processing fee of $25 when you use e-Branch Home Banking. To take advantage of Skip-a-pay, simply log in to e-Branch and follow these simple steps:

  1. From the Accounts Overview page, click on the loan you want to skip. 
  2. Click the "Skip-a-pay" button.
  3. On the new page, select from which account you would like the fee to be deducted. 
  4. Read and agree to the terms, then select "Yes".
  5. Click "Transfer Now".
Additionally, you can select the "Skip-a-pay" as a payment option when making a regular payment.

If you do not wish to utilize e-Branch or the Texell mobile app to save $10, you can: 

By submitting a Skip-a-pay request, you authorize Texell to advance your loan due date by one month on the loan. You acknowledge that this may extend the maturity date of your loan. You also acknowledge that this request does not change your legal obligation to the credit union. Your loan agreement with the credit union provides for regular monthly payments. The credit union is merely informally permitting you to defer payment for the month indicated above. Interest will continue to accrue on the unpaid balance during the month you skip a payment. A $25 processing fee for Skip-a-pays completed through e-Branch Home Banking. A $35 processing fee for all other Skip-a-pays will be assessed for each loan you choose to skip a payment. When payments resume, unpaid interest will be collected first. The processing fee is non-refundable and must be paid 10 days prior to the loan(s) due date. The fee cannot be rolled into the loan(s) balance. You acknowledge that Guaranteed Asset Protection (GAP) contracts only allow for one (1) skipped payment or loan extension over the life of the loan. Any additional skipped or extended payments will be deducted from the amount paid if a GAP claim is made. Holiday, Credit Builder, Yes!, Teacher, Employer, Home Equity, Home Improvement, Land, Mortgage, One-Time Payment, Fresh Start, Lines of Credit, Credit Cards and loans 15 or more days delinquent are not eligible for skip-a-payment. Loans that have been 30 days past due within the last year are not eligible for Skip-a-pay. Loan payments must have been on time during the 3 months preceding this request. All accounts at the credit union must be in good standing. If approved, your regular monthly payment schedule will resume immediately following the month you indicate on your request form. No more than two, non-consecutive monthly payments may be skipped in a twelve-month period.