Take a Break from Your Loan Payment and Skip-a-Pay!
The Skip-a-Pay program at CME lets you keep cash in your pocket by skipping a loan payment when you need it most! Members can Skip-a-Pay on their Personal, Auto, RV, Boat, or Motorcycle Loan anytime throughout the year.
How to Skip-a-Payment?
- It’s easy! Just follow these steps on the mobile app! Don’t have the mobile app, you can download it here!
- Email email@example.com or call our Member Care Center and our staff will be happy to assist.
Important to Note!
- Interest will continue to accumulate on the loan during the skipped month, but no late fee will be charged
- Skip-a-Pay will extend the maturity date of the loan and based on the size of the loan balance, the interest may be greater than the amount of the next regular loan payment
- If your loan is currently paid by ACH (Automatic) payment transaction from another financial institution, you need to contact them to stop the transaction for that particular month
- Only two skips are allowed every 12 months and need the loan for 365 days before eligible
- Five or more skipped payments may affect your Gap coverage
- A positive balance on the loan is required
- Not all loans may be eligible for Skip-a-Pay, but our staff will work diligently to find solutions for your needs
Let CME Help!
If you need additional information regarding Skip-a-Pay, please contact our Member Care Center at 614-224-8890 or 888-224-3108