Skip-a-Pay: How It Works and Why It Benefits You

The holidays are magical, but let’s be honest, they can also get expensive. Between gift shopping, travel, and trying to make everything look straight off a Pinterest board, your budget can feel stretched thinner than wrapping paper on an oversized box.

That’s where Skip-a-Pay comes in.

At Fort Worth Community Credit Union (FWCCU), we know the holidays can add financial stress. So this December, you can skip your eligible loan payment with our Holiday Skip-a-Pay program, giving your wallet the break it deserves. Think of it as your financial hall pass to enjoy the season without worrying about every dollar.

Let’s break down exactly how it works, why it’s a smart move for your finances, and how to make the most of this limited-time perk.

What Is Skip-a-Pay?

Skip-a-Pay is just what it sounds like. You can skip one of your upcoming loan payments for a specific month. In this case, that month is December. Instead of making your usual payment, you get to keep that cash in your pocket to use however you need during the holidays.

It’s not a loan deferment or forgiveness. You will still pay off the loan eventually. However, it lets you pause one payment. You can then use that money for other priorities.

FWCCU's Skip-a-Pay is available for eligible loans in good standing. If your loan is current and qualifies, you can enroll!

You can easily enroll online, call us, or stop by one of our two branches. Quick, simple, and stress-free, just how we like it.

How Skip-a-Pay Works

Here’s a step-by-step look at how the process goes:

  1. Check Eligibility:

  2. Not every loan qualifies, so it’s important to confirm if your loan is eligible. Skip-a-Pay typically applies to certain personal or auto loans, not real estate or credit card accounts.

  3. Enroll Before the Deadline:

  4. To make sure your skipped payment is processed correctly, your enrollment must be submitted at least 3 days before your due date. No late enrollments can be accepted (and no payment reversals if you miss the deadline).

  5. Skip Your December Payment:

  6. Once you receive approval, you will skip your December payment, freeing up your funds for the things that matter most this time of year.

  7. Loan Term Extends Slightly:

  8. If you skip a payment, your loan term will be longer by one month. This applies to each payment you skip. Interest will keep adding up on the remaining balance.

That’s it! No hoops to jump through, no hidden catch, just an opportunity to breathe a little easier during the holidays.

Why Skip-a-Pay Can Be a Smart Financial Move

Skipping a loan payment might sound too good to be true, but it can actually be a strategic financial move in financial planning when used thoughtfully. Here’s why:

1. Instant Budget Relief

The average household spends hundreds more in December than any other month of the year. Skipping a loan payment gives you extra breathing room in your budget right when you need it. Whether it’s for gifts, a holiday trip, or catching up on bills, that skipped payment can help keep you from dipping into savings or turning to high-interest credit cards.

2. Reduces Financial Stress

Money stress is one of the biggest buzzkills of the holiday season. By freeing up some funds, you can actually enjoy the celebrations without the guilt or anxiety that comes from overspending. It’s all about balance, your mental health matters too.

3. Helps You Avoid Debt Creep

Instead of getting new credit card debt for short-term expenses, you can benefit from Skip-a-Payment. This option allows you to use money you have already saved for loan payments. That means you can handle the holidays without adding more debt to the mix.

4. Perfect for Planning Ahead

Got a big trip coming up or need to cover year-end expenses? Skip-a-Pay gives you flexibility to reallocate cash flow where it matters most. Use that skipped payment strategically—whether that’s paying off a different bill, covering travel costs, or padding your emergency fund before the new year.

Responsible Ways to Use Skip-a-Pay

Yes, Skip-a-Pay is designed to help make your holidays brighter, but it’s still part of your loan, so it’s important to use it wisely.

Here are a few smart ways to take advantage of it:

  • Pay Off Holiday Shopping Early: Instead of carrying balances into January, use your Skip-a-Pay funds to cover your holiday purchases in full.

  • Save for the New Year: Stash the skipped payment in your savings account to start 2026 with a cushion.

  • Tackle End-of-Year Bills: December can bring property taxes, medical deductibles, or subscription renewals, Skip-a-Pay can help cover those without throwing off your budget.

  • Give Back: Want to spread holiday cheer? Use some of your Skip-a-Pay funds to help local charities or community drives. FWCCU loves seeing members make a difference in their community.

What to Keep in Mind

While Skip-a-Pay is a fantastic tool, there are a few things to remember so you’re making an informed choice:

  • Interest Still Accrues: You’ll still pay interest on your loan balance during the skipped month.

  • Loan Term Extends: Your payoff date will move out slightly since you’re adding a skipped month to the end.

  • Certain Loans Don’t Qualify: Some loans, like real estate, credit cards, or special programs, aren’t eligible. If you’re unsure, give us a call and we’ll confirm for you.

  • Enrollment Must Be Timely: The cutoff is strict, so make sure you enroll at least 3 business days before your loan due date.

Basically: treat it like a financial power move, not a free pass, and you’ll come out ahead.

How to Enroll

Enrolling in Skip-a-Pay is as easy as holiday shopping in your PJs (and probably faster):

  1. Submit the online form on our website

  2. Call us to enroll by phone

  3. Visit us in person at one of our two FWCCU branches

Once your enrollment is approved, you will skip your next payment. This makes your December budget much better.

The Bottom Line

Financial wellness isn’t about never spending, it’s about spending smart. Skip-a-Pay gives you the flexibility to manage your money in a way that works for your life and goals.

So this December, don’t let your wallet steal your holiday spirit. Ho-ho-hold that payment with FWCCU’s Skip-a-Pay and enjoy a season that’s merry, meaningful, and financially stress-free.

Dominique Phongsavath