Take a Break from Your Loan Payments with PDCU’s Skip-A-Payment Program!
Unexpected expenses can throw a wrench in your budget. With Skip-A-Payment, eligible members can skip one loan Transaction per calendar year for a fee. It’s a simple and convenient way to give yourself some breathing room during the year, whether it’s for unexpected expenses or to help you enjoy a holiday a little more comfortably.
How Does Skip-A-Payment Work?
If you’re eligible, you can skip your payment on most loans once per calendar year for a $35 processing fee per loan. Please note that Fresh Start Auto Loans, Lines of Credit, Mortgages, Commercial Loans, and Credit Cards are excluded from the program.
To get started, you can either complete the Skip-A-Payment process through the MyPDCU app, via PDCU’s Online Banking portal or by filling out a Skip-A-Payment Authorization Form and submitting it to any of our branches or mailing it to:
Skip-A-Payment
People Driven Credit Union
24333 Lahser Road
Southfield, MI 48033
Make sure your request and fee are received at least one business day before your Transaction is due, and if mailing, allow two weeks for delivery and processing.
Key Eligibility Requirements:
- You must be a member in good standing with no prior extensions in the current calendar year.
- The $35 fee must be available for withdrawal.
- Automatic payments: If you have automatic payments set up through PDCU or another financial institution, you’ll need to manually stop those payments for the month you’re skipping and restart them afterward.
Important Notes:
- Finance charges will continue to accrue during the skipped month, meaning that while you can delay your payment, your loan’s interest will still grow.
- GAP insurance and Payment Protection remain intact, but keep in mind that skipping a transaction could extend the term of your loan.
Take advantage of this program today and give yourself some peace of mind! Remember, life can be unpredictable, and having the flexibility to manage your payments is just another way PDCU is here to support you.
If you’re ready to skip a payment or have any questions, feel free to reach out to us online or by visiting one of our branch locations.
Need a Little Breathing Room?
Skip-A-Payment is one option. Here are two ways to take action right now, depending on where you are with your budget.
Submit Your Skip-A-Payment Request
Eligible PDCU members can submit a Skip-A-Payment request directly through the MyPDCU app or online banking. It takes just a few minutes. Make sure your request and the $35 processing fee are submitted at least one business day before your payment is due.
Talk to a Free Debt Counselor
If one skipped payment is not enough to get your budget back on track, PDCU members have free access to GreenPath Financial Wellness. GreenPath counselors can help you build a plan to manage debt, reduce stress, and improve your financial footing without any sales pressure.
Skip-A-Payment is available to eligible PDCU members in good standing, once per calendar year per loan, for a $35 processing fee. Excluded loans include Fresh Start Auto Loans, Lines of Credit, Mortgages, Commercial Loans, and Credit Cards. Finance charges continue to accrue during the skipped month. Membership eligibility required. Federally insured by the NCUA. NMLS 776727.
Meet the Author: John Scharff
John Scharff is the Digital Marketing Lead at People Driven Credit Union, where he helps create clear, practical financial content for members and the communities PDCU serves. He focuses on making financial topics easier to understand, from loans and savings accounts to digital banking, fraud prevention, and everyday money management.
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