Skip-A-Pay Program

Take advantage of extra cash during the summer or winter for travel, gifts, entertaining or anything you’d like by participating in Premier Source Federal Credit Union's Skip-A-Pay Program.

The program will allow you to skip your June, July, August payment or your November, December, January payment on your PSFCU Consumer Loan. And if you have more than one loan, you can skip a payment on each!

It’s our way of thanking you for your loyalty, and telling you how much we appreciate your membership!

It’s easy to apply.
Simply complete the application below and send it to the Credit Union for processing via the forms below:

• Mail:  232 North Main Street, East Longmeadow, MA  01028
• Fax:  413.224.2339
• Email:  membersupport@bankatpremiersource.com

or return it to us in person.

A few things to note...

1. A processing fee of $35.00 per loan will be deducted from your account.  
2. A loan must be outstanding for six (6) months with all on-time payments before the loan is eligible for the program.
3. Members are eligible for two (2) skips in a year per loan.
4. Real Estate Loans (ie Home Equity Lines of Credit and Home Equity Loans, etc.). Overdraft Lines of Credit and Pandemic Assistance Loans are not applicable.
5. Members are not eligible for the Skip-A-Pay Program if:
• The Loan(s) is PAST DUE at the time of the request. 
• The Member has a Loan Workout on their account.
• The Member has already had two Loan Extensions.
• The Member is overdrawn on his/her checking account for more than 30 days
6. Applications must be received at least four (4) business days prior to the loan due date.  Approval is required for all skipped payments.

Restrictions and eligibility requirements may apply due to PSFCU's COVID-19 Forbearance Program.