Skip-A-Payment

We are excited to announce that Skip-A-Payments are now available year-round!  Plus, your qualifying loan may be eligible to skipped up to two times a year! That means when you need more money, whether it's for back-to-school purchases or holiday expenses, Skip-A-Payment allows you to enjoy the flexibility of having extra cash when you need it most.

You can request to Skip-A-Payment 3 ways:

  • within Online Banking
  • over the phone
  • in person at any branch

To enroll, login to Online Banking or click here.  


*Eligible Loans include Signature and installment collateral loans (which include but not limited to autos, RV, motorcycles, etc.).  Business loans, loans secured by real estate, share secured loans (i.e. those tied to certificates of deposit) and revolving loan types (i.e. credit cards and lines of credit) are not eligible for the program. A $35 fee will be incurred for this service.  The fee of $35 per Skip-A-Payment must be available and will automatically deduct from the share account you designated.   If funds are not available, your request will not be completed. Term: Skipped payments are processed for a period of 1 month at a time (Ex: 2 biweekly payments, 2 semi-monthly payments, or 4 weekly payments) and will extend your final loan payment by a 1-month term. Only two Skip-A-Payment requests are allowed per calendar year, per loan.  Skip-A-Payment requests must be at least 90 days apart.  Loans must be established for a minimum of 6 months and there is a maximum of 6 skips per life of the loan. Loans with a modification in the last 12 months, workout loans, loans that are currently delinquent or have been delinquent 30 days or more in the last 12 months disqualifies all loans associated to the responsible individual(s). All Essential accounts must be current never having caused Essential a loss. If there is more than 1 borrower on a loan, only 1 borrower is required to authorize a Skip-A-Payment request. 
**Automatic Scheduled Payment Notice: If the deferred payment is scheduled for an automatic transfer or electronic payment using Essential BillPay or another Financial Institution or 3rd Party BillPay it is your responsibility to update that scheduled payment. Essential will not be responsible if the payment is not cancelled.  You agree and are required to resume and verify your regular payment schedule after the deferred month.  If the deferred payment is scheduled for an automatic transfer or electronic payment using an Essential share or share draft account, we will adjust the scheduled payment and set it to resume the following month if the request is received at least 5 business days before the payment is due.