Skip a Payment, Enjoy More Financial Flexibility with WyHy

A Little Break Can Go a Long Way

Sometimes, having a little extra room in your budget can help you focus on what matters most.

WyHy's Skip-A-Pay program allows eligible members to postpone a monthly loan payment without having to navigate a complicated application process.

Here's why members may find Skip-A-Pay helpful:

• More Financial Flexibility: Free up funds from a monthly loan payment to help cover unexpected expenses or other financial priorities.

• Simple and Convenient: Request Skip-A-Pay directly through WyHy's Online Banking.

• Temporary Payment Relief: Take a short break from an eligible loan payment while keeping your financial goals in sight.

• Give Back to Wyoming: WyHy donates 20% of Skip-A-Pay fees to a Wyoming charity, making your payment break an opportunity to support our communities.

It's one more way WyHy works to provide financial solutions designed around the needs of our members.

How Does Skip-A-Pay Work?

Skip-A-Pay allows qualifying borrowers to postpone an eligible monthly loan payment. Rather than eliminating the payment, the program moves it to the end of the loan term, generally extending the repayment period.

Interest continues to accrue during the skipped period, which means using Skip-A-Pay may increase the total interest paid over the life of your loan.

Members can request up to two skipped payments within a 12-month period per eligible loan, with at least one month between skips.

Skip-A-Pay is intended to provide temporary flexibility, so it's important to consider how postponing a payment fits into your overall financial plan.

Does Your Loan Qualify?

Not every loan is eligible for Skip-A-Pay, but several common WyHy loan types may qualify.

Eligible loan categories include:

• Certain auto loans

• Certain recreational vehicle loans

• Personal and signature loans

• Certificate-secured loans

To qualify, members must meet the following requirements:

• Be a WyHy member in good standing

• Have an eligible loan with no delinquencies

• Have a remaining loan balance of at least $100

• Have had the loan open for at least three months

• Have at least one month between skipped payments

• Have sufficient funds available to cover the applicable Skip-A-Pay fee

Other restrictions and eligibility requirements may apply.

How to Skip Your Payment in Just a Few Steps

Ready to give your monthly budget a little breathing room? Requesting Skip-A-Pay through WyHy Online Banking is simple!

Step 1: Log In to Online Banking

Access your WyHy Online Banking account and select the "MORE" button on the left side of your screen.

Step 2: Select Skip-A-Pay

Click the Skip-A-Pay icon to view your eligible loans. Review and agree to the program's terms and conditions.

Step 3: Choose Your Payment Account

Select the account you'd like to use to cover the Skip-A-Pay processing fee.

• $25 when completed through Online Banking

• $50 when completed over the phone or at a WyHy branch

Step 4: Enjoy Your Payment Break

Once your request is processed and approved, you can enjoy temporary relief from your eligible monthly loan payment.

Your Payment Break Gives Back to Wyoming!

At WyHy, supporting our members goes hand in hand with supporting the communities we call home.

That's why 20% of Skip-A-Pay fees are donated to a Wyoming charity!

When you take advantage of this program, you're not only creating a little more financial flexibility for yourself, but you're also helping make a positive impact right here in Wyoming.

It's part of our commitment to putting our members and communities first.

A Few Things to Keep in Mind

Before requesting Skip-A-Pay, it's important to understand how postponing a payment could affect your loan.

Interest Continues to Accrue: Even though you're skipping a payment, interest continues to accumulate on your outstanding loan balance. This may increase your overall borrowing costs.

Your Loan Term May Be Extended: A skipped payment is generally added to the end of your loan, extending your repayment period.

Fees Apply: Each Skip-A-Pay request includes a processing fee, which must be available in your account before the request can be completed.

GAP Coverage May Be Affected: If your loan includes Guaranteed Asset Protection (GAP), skipping a payment can change your loan's amortization schedule and potentially reduce the amount covered in the event of a qualifying loss.

Understanding these details can help you make the best decision for your financial situation.

Give Your Budget a Little Breathing Room with WyHy

Whether you're navigating unexpected expenses, preparing for seasonal spending, or simply looking for a little extra flexibility, WyHy's Skip-A-Pay program could be a helpful option.

Sometimes, a little financial breathing room is exactly what you need to keep moving forward.

Ready to skip an eligible loan payment? Log in to WyHy Online Banking to review your options and submit your request today.

Visit WyHy Federal Credit Union to Get Started

Have questions about your eligibility? Our team is happy to help! Contact us at (800) 442-2392.

We're WyHy. We're Wyoming. We're With You.

Skip-A-Pay is subject to loan eligibility and approval. Members must meet all program qualifications. A $25 processing fee applies to requests completed through Online Banking, and a $50 fee applies to requests completed by phone or at a branch. Interest continues to accrue during the skipped payment period, and loan terms may be extended. Skip-A-Pay may affect GAP coverage. Additional terms and restrictions apply. Contact WyHy for complete program details.