How to Use Cy-Fair Federal Credit Union’s Skip-a-Payment Program

cy-fair federal credit union

Cy-Fair Federal Credit Union offers a Skip-a-Payment program that will allow you to skip a payment during the year. This can be beneficial if you run into issues where you unexpectedly need to pay for a car repair or if you need a little extra money for the holidays. There are specific rules that you must follow in order to skip a payment.

How to Use the Skip-a-Payment Program

If you are interested in skipping your payment, you will need to fill out the application 10 days before the payment is due. The application will only take a few moments to complete, and you will be charged $25  if the skip is approved. Additionally, it is important to realize that you are adding an additional month onto the end of your loan term, and that interest will continue to accrue during the month that you are skipping.

This program allows you to skip up to two payments in a calendar year, but you must have had the loan for at least six months. Additionally, the skipped payments need to be at least 60 days apart from each other.

If you keep this in mind, you should be able to handle most expenses. If you are delinquent on the loan or behind on payments, you cannot qualify for this program.

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When Should I Skip a Payment?

The Skip-a-Payment program can help you out when you are in a difficult financial situation. Because you are limited to two Skip-a-Payment options per year, be sure that you really need to skip the payment.

Many people use it around the Christmas holidays to find extra money for gifts, or if you have an unexpected emergency. This is a great option for these situations, but they should be the exception rather than the rule as you plan your finances.

Cy-Fair Federal Credit Union is a Houston credit union that was founded in 1956 as a credit union for people employed through the Cy-Fair Independent School District. Since then, membership has expanded and there are now three offices in the Northwestern Houston area.

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About the Author

Miriam Caldwell

Miriam Caldwell is a North Carolina-based writer specializing in personal finances.  Miriam has written about everything from budgeting to managing your money while married. With more than 12 years of experience, her writing as appeared online at,, and

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How to Use Cy-Fair Federal Credit Union’s Skip-a-Payment Program
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