Skip Payment Program

Relax and take a break from your payments…

Calcasieu Teachers & Employees Credit Union’s Skip Payment Program allows you to skip up to 2 payments each calendar year¹.

To request a skip payment, please download the form below and fax it to us at 337.494.0310 or drop it off at any of our locations.

1 By participating in Calcasieu Teachers & Employees Credit Union’s Skip Payment Program, you request that the Credit Union defer your loan payments as indicated. You agree and understand that:

1) you may skip up to two (2) payments per qualified loan type per calendar year during either the months of December and January or July and August;

2) a Skip Payment fee of $25 per loan will be deducted from your Credit Union Savings or Checking account at the time the request is processed;

3) finance charges will continue to accrue at the rate provided in your original loan agreement, during and after this time;

4) deferring your payment will result in your having to pay higher total finance charges than if you made your payment as originally scheduled;

5) the payment deferral will extend the terms of your loan(s) and you will have to make extra payment(s) after your loan(s) would otherwise be paid off;

6) you will be required to resume your payments the following month. Automatic transfer/Payroll Deduction records to a Credit Union Deposit or Loan will NOT be skipped automatically. Contact the Credit Union if you wish to skip the payment;

7) if you elected Guaranteed Asset Protection (GAP) or Mechanical Repair Protection, the coverage will not be extended beyond the original maturity date;

8) if you elected Credit Insurance or Debt Protection, the monthly premium will continue to be added to the loan during and after the month of the skipped payment;

9) certain restrictions may apply; excludes all real estate loans, second chance loans, any loans deemed as loan specials (12-7-12, vacation, etc…), any loan under a workout plan, and any courtesy pay repayment plan;

10) the skip payment application must be received no later than one (1) business day before the loan payment is due;

11) all deferrals are subject to Calcasieu Teachers & Employees Credit Union approval. Your loan(s) must be current (cannot be over 10 days delinquent) and open for at least 3 months with on-time payments to qualify.