KINGSPORT PRESS CREDIT UNION

SKIP-A-MONTH PROGRAM

Thank you for borrowing from your Credit Union. We recognize that there are times in life when it is difficult to make loan payments due to illness, layoffs, etc.

As a valued member, we offer you a special way to manage those occasions---our Skip-A-Month Program. Instead of worrying about making the car payment, you can use that extra cash for other needs for one month.

Complete the coupon below and return it to us, along with a $20.00 Skip-A-Month fee. The $20.00 fee is required to offset administrative and operating expenses. The fee can be withdrawn from your Credit Union accounts. The coupon and fee must be received by your regular due date for the month you wish to use the coupon to avoid late charges. The program does not apply to mortgage or home equity loans and can only be used on loans with immediate preceding 12-months good repayment (no payments late more than 30 days). If you have questions about the Skip-A-Month Program, just give one of our loan officers a call at: (423) 378-9292 (Kingsport office), (423) 357-4962 ( Church Hill office), (423) 272-8299 (Rogersville office), or (423) 357-6141, ext. 2260 (Holliston office).

Don’t throw your loan coupon away. Keep it in case you need it later. If you need more than one coupon for multiple loans, just ask! Just remember—one month skip per loan per year.


KINGSPORT PRESS CREDIT UNION

SKIP-A-MONTH COUPON



Member Name: ________________________________________

CU Account Number: ____________________________________

Loan Type (car, personal, etc.): _______________

Payment Amount: __________________

Date(s) to Skip: ____________________________

Loan Number (if known): _____________________

$20.00 Skip Fee: _____ Enclosed

_____ Withdraw from Which CU Account: ___________________________
 

I (We) want to utilize the Skip-A-Month Program. I (We) realize that interest will continue to accrue on the loan and that it will add the payment(s) to the end of the loan and extend the payoff date.
 

Signature: ____________________________________

Signature: ____________________________________

Loan Officer: __________________________________

Date Processed: _______________



GAP Insurance Disclaimer: Gap insurance purchased through KPCU is limited to a maximum of two deferred payments over the life of the loan. Deferring more than two payments will result in a deficiency balance not covered in the event an insurance claim is filed. The deficiency balance will be the responsibility of the borrower.