Skip your loan payment for the Holidays!

Mutual Savings Credit Union members that need a little more spending money for holiday shopping can take advantage of MSCU’s Skip-a-Pay promotion. Eligible members can elect to skip their December 2013 or January 2014 loan payment and use that money for other expenses. The deadline to sign up for this promotion is January 9, 2014.

To skip your MSCU loan payment, please return a completed and signed Skip-a-Pay coupon to your MSCU branch or fax it to the MSCU Call Center at (205) 682-1191. Skipped payments can be applied to the following types of consumer loans from Mutual Savings Credit Union:

  • New and used car loans
  • Indirect new and used car loans
  • New and used boat loans
  • New and used recreational vehicle loans
  • New and used motorcycle loans
  • Line of Credit loans (Except Breathe Easy loans)


In order for your consumer loan to be eligible for the skip-a-pay offer, your loan payment must be current. No checking account is required for this offer but if you do have a checking account, you must have a positive balance. Your first loan payment must already be paid and all borrowers (including co-signers) must sign the skip-a-pay coupon. Members with multiple MSCU consumer loans may skip one payment from each loan but must complete separate skip-a-pay coupons.

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Members may only skip payment in December of 2013 or January of 2014. Member signature required; 2 signatures required if loan is jointly owned. Signature authorizes MSCU to extend your final loan payment by one month. Interest will continue to accumulate on your loan during the month you skip your payment. The loan payment may be higher than the amount disclosed due to the postponement of any scheduled or skipped payments. Payments made through payroll deduction will be deposited into your savings account for the month you are skipping your payment. This offer does not include Mortgage or Business loans. Participation could result in a reduction of GAP insurance benefits in some circumstances, or other insurance benefits which may be calculated according to the original loan terms and insurance certificates may not fully cover the balance of the loan. This offer expires January 9, 2014. Regularly scheduled payments will resume in the month following the skipped payment. A fee of 35.00 will be charged to skip a payment. This fee will be assessed for each eligible loan type in which the payment is skipped. See credit union representative for more details.