Skip-A-Pay Program


Wiggle room for your budget

A gift from us to you

Did you know that on an eligible Deseret First loan, you can skip a payment up to two times a year? This is a great way to get a little more room in your budget for the month*. Which can be especially useful around the holiday season! Just think, instead of paying $300 towards your auto loan, you can have that money to travel and be with family. We at Deseret First want to help you any way we can. That’s why we believe this is a service that can help when you need it!

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Benefits of Skip-A-Pay


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It’s fast and secure.

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There are no forms, signatures, or mailing required.

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You can use this feature twice a year.

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Gives you more cash in your budget the months that you skip.

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It takes less than 5 minutes.

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How to Skip a Payment

Don’t worry, it is quite simple and easy to do! Here are a few steps for you to follow.

  1. Log in to your Online Banking Account.
  2. Click the Skip-A-Pay widget (looks like the picture below).widget icon for Skip-a-pay program
  3. Follow the prompts to let us know which loan you’re wanting to skip.
  4. You’re finished and have a little extra room in your budget for that month!

Steps within Online Banking

We’ve created the following slideshow in case you need a little extra guidance! It includes the steps you need to take once you’ve selected the Skip-A-Pay widget in Online Banking.

Requirements

  • Loans must be current to take part
  • You must be one of the owners on the loan
  • There is a small fee** associated with skipping payments. So to proceed with skipping your payment, there must be enough in one of your DFCU accounts to cover this fee.
  • Your DFCU accounts cannot be overdrawn for more than 30 days
  • The loan you want to skip a payment on cannot be more than 29 days delinquent
  • Your DFCU accounts cannot be overdrawn more than $950
  • The loan you want to skip a payment on cannot have been delinquent for a period of 60 days within the last 6 months
  • Cannot have a CPI in place on the loan you want to skip
  • Loan you want to skip must be open at least 120 days previous
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*Skipping a loan payment will extend the term of the loan and increase the total finance charge. Interest will continue to accrue at the agreed rate.

**The fees are as follows. $25 for consumer loans. Consumer loans include: Auto, RV, Secured, and Signature Loans, Credit Cards, and Overdraft Line of Credits. $50 for Mortgage loans under $50,000. $100 for Mortgage Loans above $50,000.

Stretch your money further!

Give your budget some wiggle room with the Skip-A-Pay program.

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