As of July 1, 2024, ARC's loan Skip-A-Pay program has undergone some changes. All eligible loans* are allowed to have three (3) skipped payments for the life of the loan. Please note, skipped payments approved before July 1, 2024, will not count against the 3-skip maximum. These changes are designed to provide a more structured approach to managing loan payments, ensuring your financial stability in the long run.

Why ARC Updated Our Skip-A-Pay Policy

At ARC Federal Credit Union, your financial wellness is our top priority. Our Skip-A-Pay program was originally created to help members manage temporary financial hardship by allowing an occasional skipped loan payment. Over time, however, we’ve seen it become a go-to budgeting tool—especially during summer or the holiday season.

While skipping a payment might feel like a relief in the short term, it can lead to long-term financial setbacks. Using Skip-A-Pay regularly may extend your loan term, increase total interest costs, and delay your financial goals. To better support your long-term financial health, ARC is placing a limit on the number of times you can skip a loan payment over the life of your loan.

Smart Alternatives that Work for You

Set It & Forget It: Automatic Transfers

Instead of skipping a loan payment to make room in your budget, consider setting up an automatic transfer to one of ARC’s specialized savings accounts. It’s a simple, effective way to prepare for seasonal expenses like holiday shopping or summer trips—without extending your loan or paying skip-a-pay processing fees.

Example: Holiday Savings Without the Skip

If you get paid bi-weekly and start saving in June, a $25 transfer each payday to a Christmas Club account will leave you with $300+ by Thanksgiving. That’s roughly the amount many members gain from a skipped loan payment—without the added interest and without the $35 fee.

Even $10 or $15 per pay adds up over a few months—and you’re building strong financial habits at the same time.

Easy to Set Up

Our Christmas Club, Vacation Club, and Special Share accounts are:

• Free – no maintenance fees
• Flexible – no minimum balance required
• Accessible – open online anytime

To open one:

1. Log into your ARC Online Banking
2. Open the menu and choose “Open Sub-account”
3. Select the account that fits your goals

Looking for a higher-yield option? You can also open a Money Market Account online with a $2,000 minimum transfer from a linked ARC account.**

We're Here to Help

Free Access to a Certified Financial Counselor

Feeling overwhelmed? You're not alone—and you're not on your own. At ARC, members have access to a Certified Financial Counselor who can help you:

Create a personalized budget plan

Review your current financial obligations

Find alternatives to Skip-A-Pay that support long-term stability

This service is confidential, free, and available to all members.
Contact us at (814) 946-0857 or email memberhelp@arcfcu.org to schedule your appointment.

Talk to a Loan Officer

If you’re unsure how these changes affect your current loan, or you need help navigating your options, our loan officers are ready to help.

📞 Call (814) 946-0857 (Option 4)
📍 Stop by a branch near you

If after reviewing all options, you still need to request a Skip-A-Pay, simply download the form, fill it out, and submit it to our loan department.

Your Financial Wellness Comes First

At ARC Federal Credit Union, we’re committed to providing more than just financial services—we’re here to empower your financial journey. From loan payment assistance to budgeting tools and holiday savings strategies, our goal is to help you build lasting financial health.

*Offer not available on ARC Visa cards, mortgages, home equities, business loans, or lines-of-credit. You must have at least a six-month payment history established on the loan(s) and no accounts can be delinquent when the skip-a-pay is requested. Program terms are subject to change without notice; additional criteria may apply. You must submit your skip-a-pay form at least five (5) business days before the due date(s) of the payment(s) to be skipped. Offer is subject to credit union approval; failure to meet these program guidelines may result in the request being denied. There is a $35 processing fee for each loan payment you skip. This fee does not reduce the principle. Skipping payments will delay the payoff of the loan, and the skipped payment(s) will continue to accrue finance charges. By skipping payment(s), the benefit from GAP insurance (if applicable) may be reduced by the amount of the payment skipped. Life and disability insurance (if applicable) will continue to accrue.

**Linked accounts within online banking must share owners with matching TINs; additional criteria and limitations may apply. Questions on setting up linked accounts can be directed to memberhelp@arcfcu.org or by call or text to (814)946-0857