Need a Break from a Loan Payment? Your Harlingen Credit Union Has Options!

Unexpected expenses or seasonal financial changes can sometimes make it difficult to keep up with monthly payments. That’s why many members appreciate flexible financial tools offered by their local credit union Harlingen residents trust.

Valley Federal Credit Union now allows eligible members to skip up to two loan payments per year, giving them more flexibility when they need it most.

The Skip-A-Payment program provides temporary relief while keeping the overall loan terms intact.

Discover How the Skip-A-Payment Program Works

The Skip-A-Payment option allows members to temporarily pause their loan payment when they need extra breathing room in their budget.

Members can now:

• Skip up to two payments per year
• Choose the time that works best for them
• Maintain the same loan terms and repayment structure

A $25 processing fee per loan applies, and requests must be submitted at least two weeks before the payment due date.

This flexibility can help members manage their finances more comfortably throughout the year.

Make Sure Your Loan Qualifies

Before submitting a Skip-A-Payment request, members should review the program requirements to ensure their loan qualifies.

To be eligible, members must:

• Be no more than 10 days past due on the loan
• Have made three consecutive monthly payments
• Maintain accounts that are not negative for more than 30 days
• Carry full coverage insurance on auto loans
• Have the $25 processing fee available in the account

Meeting these requirements helps ensure that the program remains a responsible financial option for members.

Know Which Loans Are Not Eligible

While many loans qualify for the Skip-A-Payment option, certain loan types are excluded.

Loans that do not qualify include:

• Single payment loans
• Workout loans or extensions within the last six months
• Balloon loans
• Home equity or lot loans
• Loyalty loans
• Credit card accounts

Understanding these limitations helps members determine whether the program applies to their specific loan.

Understand Important Program Guidelines

When using Skip-A-Payment, it’s important to remember that the skipped payment is not forgiven—it is simply postponed.

Members should be aware that:

• Interest will continue to accrue during the skipped period
• Requests must be submitted at least two weeks before the due date
• Requests cannot be submitted more than 30 days before the payment due date
• Payments already made cannot be reversed

These guidelines help ensure the program is used responsibly.

Visit Your Harlingen Credit Union for More Details

If you’re looking for financial flexibility, the Skip-A-Payment program offers a helpful solution when life’s expenses shift.

Members can contact or visit Valley Federal Credit Union, a trusted credit union Harlingen residents rely on, to learn more about eligibility and how to submit a request.