Life happens, and sometimes even the best-laid budgets need an unexpected boost. Free up some extra cash with our convenient Skip-A-Payment service, available year-round on select loans.

Applying is easy: Log into OTIS Online on your internet-enabled device (desktop, tablet, or mobile phone), and click “Overview or Transfer Screens” to see if a loan qualifies. Qualifying loans will appear; click the loan that you would like to skip a payment on, and follow the on-screen instructions.

You may also stop in and see one of our Loan Officers in person or speak to one over the phone. If you are applying for Skip-A-Payment in person or over the phone, a confirmation letter will be mailed to you upon approval.

Skip-A-Payment Criteria

  • Loans cannot be past-due at the time of a Skip-A-Payment request.
  • Loans 30 or more days past due in the last 12-month period do not qualify for Skip-A-Payment.
  • Loans must be open for at least one year.
  • You must NOT have used Skip-A-Payment on the respective loan in the last 12-month period.
  • All Real Estate Loans (i.e., Mortgages, Home Equity Loans, etc.), Single-Payment Loans, Energy Loans, and VISA Credit Cards are ineligible for Skip-A-Payment.

Additional Details

  • Interest will continue to accrue on unpaid balances through the skipped payment period.
  • Skip-A-Payment extends the term of the affected loan(s) by one month.
  • Upon approval, a $25 processing fee per loan will be withdrawn from your Membership Share, $5 of which is donated to the Ending Hunger Campaign.

How can OTIS work for you?

If you live, work, worship, or attend school in Androscoggin, Cumberland, Franklin, Kennebec, Lincoln, Oxford, Sagadahoc, Somerset, or York County, you’re eligible to be part of OTIS FCU – and we’d love to have you join our community.