November 19th, 2012

How Can Your Auto Loan Help You Deal with an Emergency Expense?

The rains have made their way back to Western Washington with the chill of winter just around the corner.  Northwest winters can pack a nasty punch in the form of flooding, wind storms, and power outages. At their worst, these disasters can be dangerous and cause untold damage to homes, cars, and property.

If you’ve ever had to recover from a tree falling through your roof or had to deal with the clean up after a flood has invaded your home, you know how expensive it can be to dig out from under the chaos left behind by winter storms. Even if you are covered by insurance, you may still have out of pocket expenses you haven’t budgeted for that can throw your financial situation into disarray.

SMCU’s Anytime Skip-A-Pay Can Help You Weather the Storms

When you have unexpected cash-flow problems, due to emergencies or just monthly bills that are higher than normal, being able to delay your car or other loan payment can take some of the weight off your shoulders. That’s why we created our Anytime Skip-A-Pay program.

Anytime Skip-A-Pay allows you to skip up to two payments every twelve months on any eligible SMCU loan1 without any negative impact to your credit score. You can skip payments when the extra cash would do you the most good.

If you need to skip a payment, all you have to do is let us know at least 7 days before your payment is due and pay a small processing fee (just $25) for each loan payment you want to skip. We’ll advance your due date and you can use the payment you would have made to help put everything back the way it should be.

Request a Skip Online, By Mail, or In Branch

There are three easy ways to request a skip:

SMCU Lending Department
Attn: Skip-A-Pay requests
P.O. Box 780
Seattle, WA 98111-0780

  • In person by speaking to a branch rep who will have you complete and sign a Skip-A-Pay form
  • Online by logging into SMCU’s Online Banking and completing the online Skip-A-Pay form in the Secure Forms section

Refinance with SMCU for a Great Rate and Peace of Mind

If you have an auto loan with another financial institution and repair bills start piling up, chances are you’ll have to figure out how to make your car payment while trying to deal with your emergency. You’ll likely also be paying hundreds of dollars more every year in payments than you would at SMCU. Why not make the switch and start saving money every month and have the peace of mind that comes with SMCU’s Anytime Skip-A-Pay.

It’s easy to refinance with SMCU. You can apply online and get an answer fast. Our friendly loan experts can answer any questions you might have about Anytime Skip-A-Pay or any of SMCU’s low-cost personal loans. Stop by a branch or call 800-334-2489 today.

Learn more about Anytime Skip-A-Pay at


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1Eligibility Requirements and Disclosures

  • The loan must have been open for at least six months.
  • The loan cannot be past due at the time the skip-a-pay request is made.
  • The loan cannot have had any payments 30 days or more past due in the previous six months.
  • Payments cannot be skipped in consecutive months and cannot be skipped more than twice in any twelve-month period.
  • The loan cannot have an active force-placed insurance policy.
  • The $25 per loan processing fee must be received before any payment can be skipped.
  • First mortgages, home-equity loans, and VISA® credit cards (including share-secured credit cards) are not eligible.
  • Skip-A-Pay requests must be received at least seven (7) days before the payment you wish to skip is due to allow time to cancel an automatic payments being made to the loan.
  • SMCU reserves the right to decline a Skip-A-Pay request due to poor payment performance or any other circumstance we deem derogatory related to a member’s account(s).
  • Interest continues to accrue on skipped payments based on the outstanding principal balance. This may result in a reduction in the amount of principal paid by subsequent payments.
  • Any credit life, disability, debt protection, and/or GAP coverage on a given loan may not extend beyond the original maturity date.




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