PEARL RIVER, N.Y. – Palisades FCU is reaching out to members by bringing back a popular program offered last summer that allows borrowers to skip their July and August loan payments.
The Skip-A-Pay program allows members in good standing with to "opt-in" to skip two months of their loan payments. The specified months are July and August and members have the choice to either skip both, either one, or none.
"Giving our members the option to have summer months off gives them the flexibility to spend their money elsewhere during a season when they might not have been able to," said Chief Operation Officer Sean Jelen. "With the success we saw last year we felt it was more important than ever to keep delivering services that directly benefit our members."
The $156 million credit union’s program is different than others in that it is one of the few offered to waive the Skip-A-Pay fee, resulting in no cost to the member to use this service. Palisades also added an additional feature to the program this year, issuing a rebate back to members.
