News

Summer Skip Your Loan Payment Program

4/20/2017

Did you know that Landings CU used to be a teachers only Credit Union? That's right; you had to be a teacher or a family member of a teacher to be a member here. Though we now have a community feel about us, we are proud of our roots.  I bet you didn’t know we created a program to help teachers make it through the summer without pay called Summer Skip.  Summer Skip allows you to defer loan payments for June, July, and August and is no longer for teachers only, anyone can apply.

What you need to know:
• Interest continues to accrue during the deferral months.
• All members are eligible to apply but not all loans are eligible for summer skip
• To skip those payments every year for the life of the loan, you will only need to apply one time
• You need to apply separately for each eligible loan.

How it works:
• Stop by a branch to apply for summer skip.
• If your loan is new, your first payment needs to be made before you can apply.
• The payment skip takes effect after the May payment is made and continues for the life of the loan unless one of the followings occurs:
1. The loan is paid off
2. Summer Skip is canceled

Summer Skip is not available on the following loans:
• 1st and 2nd Mortgages
• HELOC
• Mobile Home Loans
• 84-month vehicle Loans
• Lines of Credit
• Micro Loans/Promotional Unsecured Loans
• Lenders Protection Auto Loans
• Solar/Landscaping Loans
• Pool Loans
• Previous Extension of Hardship Notification

All accounts must be in good standings at when applying for summer skip. Other terms may apply.

For Summer Skip on credit cards no application is needed.  If the card meets the eligibility criteria, Summer Skip will auto qualify and will be reflected on the June, July, and August statements for skipped payments in July, August, and September.

Call today for more information 480-967-9475