Skip-A-Payment

Mower County Employees

Credit Union

900 18th Ave NW, Austin, MN 55912

(507) 437-6360

Routing number: 291973302

Membership Number *

Message:

Loans To Enroll *

ALL LOANS For This Membership

Only Certain Loans (Message Below Required)

Contact Me To Discuss Directly

Submit your Holiday Skip-A-Payment online. Fill out the online enrollment form or contact us at (507) 437-6360 and we'll skip your payment(s) for the holidays.

HOW HOLIDAY SKIP-A-PAYMENT WORKS:

You may be eligible to defer ONE MONTH of regularly scheduled payments for your choice of: November or December

THE PAYMENT(S) SKIPPED WILL EXTEND YOUR LOAN(S) BY ONE MONTH. INTEREST WILL CONTINUE TO ACCRUE DURING THE SKIP.

A FEE OF $20.00 PER LOAN WILL BE ADDED TO THE PRINCIPAL OF THE LOAN.

Home Banking: If you have a recurring payment scheduled in Online Banking please revise the request to ensure a payment does not post during the month you’ve selected. You will need to turn this feature back on for the following month.

By enrolling in this service, you authorize Mower County Employees Credit Union to add the stated service fee per skip, per loan, to the loan balance. Excludes loans with annual or single payments. Your loan will continue to accrue interest at the original rate during the extension period until paid in full. There will be additional interest due along with the final payment. The term of your loan will be extended by one payment or month, dependent on the election made. All loan payments must be current and in good standing to qualify. The number of Skip-Payments allowed are up to 2 requests per calendar year, however members may not skip 2 consecutive months. Member Participation is optional. Additional requirements may apply. Please allow a minimum of two business days for us to process your request.

**A full month of payments may be skipped during the November-December holiday season, which includes all payments scheduled that month. Outside of the holiday season, individual payments may be skipped at the outlined service fee.

If you have any questions, please contact us at (507) 437-6360

Name: *

Holiday Skip Month *

November

December

Agree To Terms *

By submitting, I understand that the terms and conditions of my loan agreement(s) are unchanged and remain in full force and effect, except that there will not be any regular payment(s) required during the deferral period set forth above. I also understand that: interest will continue to accrue on the outstanding loan balance(s) during the deferral period and until the loan(s) is paid in full and that I continue to be responsible for the entire outstanding principal and interest of my loan(s), I will continue to make the scheduled payment(s) until all principal and interest is paid in full, and that the loan(s) maturity date will be extended. At least one borrower is required to authorize enrollment and may do so without authorization of other borrowers. I agree to have received a copy of this enrollment to retain for my records. If verbally authorized, I consent to a copy of enrollment mailed to me. MCECU reserves the right to refuse any Skip-A-Payment request and will advise you only if your request is denied.

Phone Number *

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