Catholic Federal Credit Union Financial Fitness Blog

Skip a Payment: A Budget Break From Your Loan Payment

Posted by Bethany Dutcher, VP Marketing on Sep 7, 2017 11:59:00 AM

Q: I'm looking for a way to cut expenses to be able to pay an unexpected bill, so I don’t have to rack up a huge credit card bill. I'm considering skip a payment. What do I need to know?

A: CFCU’s skip a payment program can help give you more cash in your wallet for unexpected bills, car repairs, vacation, etc.        

Skip a payment is a program offered to our members that allow you to skip a monthly qualified loan payment when you need to. There is a processing fee of $35 per loan skipped.

Here are some important points to consider before you decide to skip a payment:

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Topics: loans, budget, payments, skip a pay

IMPORTANT NOTICE REGARDING SAME-DAY ACH PROCESSING

Posted by Tiffany Watkins, VP Risk Management & Compliance on Aug 28, 2017 3:01:39 PM

Same-Day ACH Payments - Effective September 15, 2017

You may have already noticed that ACH credits post to your account at different times during the day - this was Phase 1 of Same Day ACH Rule implemented by the National Automated Clearing House Association (NACHA). Phase 2 will go into effect on Friday, September 15, 2017, allowing ACH debits to clear your account at different times during the day.

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Topics: ACH, payments, electronic payments

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