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Christmas Payment Deferral

It's Back!
Southwest Heritage Credit Union is excited to offer our members our Christmas Skip-A-Payment option for one month, either November OR December. Skip-A-Payment is not available for loans secured by real estate, open-end loans or credit card. All loans must have a minimum of six (6) consecutive monthly on-time payments in order to qualify. Loan payments that are past due or paid thru disability insurance are not eligible. You must complete a separate form for each eligible*
Eligible Loans
* All Skip-A-Payment eligible loans must have a minimum of six (6) consecutive on-time loan payments. This Skip-A-Payment program is not available for mortgage, home equity, lines of credit, open-end loans or credit cards. The program is not available on loans during the first six (6) months of the loan agreement. Other restrictions may apply. To skip a payment, a $15.00 fee will automictically be deducted from the account you designated above. If funds are not available in the designated account, your Skip-A-Payment request will not be honored. For members who have Guaranteed Asset Protection (GAP), claim coverage may not extend beyond the original maturity date in your loan disclosures and agreement. Please refer to your GAP Policy for complete information.
loan you wish to skip.
Here's How It Works
  • There will be a $15.00 per loan deferral fee (CONSUMER LOANS ONLY - does not pertain to credit cards, real estate, or business loans).
  • The total number of extensions already given this year is taken into consideration and evaluated.
  • All deferrals are subject to approval.
  • All accounts with SWHCU must be and have been current for the prior 6 months.
  • This signed form must be returned along with the $15.00 deferral fee for each loan being deferred.
  • If you choose to take advantage of the deferral option, please note that interest on the loan(s) will continue to accrue and can add additional month(s) to the end of the original loan term, which may not be covered under your GAP agreement.
  • This signed form will be used as authorization to defer the November OR December payment.
  • ALL Christmas Deferral Forms must be returned by December 29th, 2024!
SUBMIT A WEEK PRIOR TO DUE DATE OR AUTO PAYS MAY STILL BE DRAFTED!


Please answer the questions below.
I would like to defer my November   OR   December   payment on the loan shown below.
Loan Number:
One SUBMISSION PER LOAN. IF MORE SUBMISSIONS ARE REQUIRED PLEASE RELOAD THIS PAGE.
Select one method of payment below for $15.00 deferral fee:
Check Made payable to SWHCU (being mailed)  
Transfer from SWHCU Savings Account Number:
Transfer from SWHCU Checking Number:
If your regular loan payment is made by auto-draft, please select the method below:
My loan is set up on auto-draft from an account with Southwest Heritage Credit Union.
My loan is set up on auto-draft from a different financial institution.
My loan is not set up on auto-draft.
Disclosure
I hereby authorize Southwest Heritage Credit Union to defer my payment for the loan I have listed above. I understand that interest will continue to accrue on the outstanding balance and may result in higher total finance charges on my loan. Therefore, I understand it may be necessary for me to make extra payments after the loan would otherwise have been paid off. Skipping payments will extend the term of my loan. All my accounts and/ or loan accounts with Southwest Heritage Credit Union are current and have been in good standing for the past 6 months to my knowledge. I understand all skipped payments are subject to Southwest Heritage Credit Union's approval and that Southwest Heritage Credit Union reserves the right to terminate this offer if my financial status changes prior to the credit union's approval. I agree that I will resume making scheduled payments beginning with the payment due during the month following the skipped payment and will make all scheduled payments due thereafter. I understand that all these payments will be applied first to the finance charges and late fees, if any, then to principal. I understand in the case of GAP insurance claim, any additional amount incurred by this election to skip a payment may not be covered by GAP insurance contract signed at the time of loan origination. Monthly premiums for Credit Life, Disability and/or Involuntary Unemployment will stay added to the loan on the skipped month, if applicable.

I acknowledge that I have read and understand the terms of this disclosure as detailed above. (required)
Your Full Name:
Spouse/Other:
By typing the name above I am authorizing and agree to use this electronic signature to sign this application. I agree to transact business using electronic communications, electronic records, and electronic signature rather than paper documents.
Date:
Date:




Please click on the "Submit Application" button to send your application.

One of our representatives will respond to your submission as soon as possible.

   


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