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Eligibility Guidelines

If you would like to sign-up for Democracy Federal Credit Union's Skip-A-Pay program for the month of December 2023, please complete this online form authorizing your request. Turnaround time for a response is between 3 – 5 business days. I understand that:

  • A completed Skip-A-Payment request must be received ten (10) days prior to my December due date and no later than December 31, 2023. December payment cannot be skipped until the November payment is paid.
  • All Democracy FCU accounts must be in good standing and current; previous months' payments must be completed.
  • The first three (3) payments of a new loan may not be skipped.
  • This offer applies only to automobile loans and signature (personal) installment loans.
  • This offer does not apply to loans that have been 60 or more days delinquent in the past six (6) months or modified/extended in the last 12 months.
  • Skip-A-Payment may be completed if Overdraft Privilege amount due is within the 30-day repayment period.
  • Other restrictions may apply.


 Fees and Terms

  • Loan payment will be deferred with no penalties or late fees.
  • A $50.00 processing fee applies and can be deducted from your share account at the time of approval.
  • Interest will continue to accrue on all deferred payments and may extend the loan term.
  • Members with bi-weekly notes, or payments, will be able to skip two payments.
  • Payments made via payroll deduction and Automated Clearing House (ACH), will be, if needed, reversed from your loan and credited to your savings account.
  • Payments set up via Bill Pay, Online Automatic Transfer, or ACH, will be the member’s responsibility to stop the payment(s) and then restart the payment(s).