Skip My Payment*
Now get some financial relief whenever you wish by skipping your loan payment whenever you’d like. Use the funds to get caught up on bills or anything else you need.
Unlike before, you NOW have the ability to Skip-a-Payment on your eligible loan(s) ** directly through Online Banking; up to two times (per loan) within a consecutive 12-month period (January through December).
There are no forms to fill out. Just Log into PC Branch (online banking) and click the “Skip My Payment” tab to see if your loan or loans are eligible.
Log into PC Branch here: https://www.beaconfed.org/eservices/pc-branch/
*A fee will be assessed per loan. Interest and finance charges will continue to accrue on your loan(s) during the month you skip your payment and the term of your loan(s) will be extended. The $35 processing fee per loan must be available in your Share Savings or Share Draft Checking account and paid the day of the request to skip your payment. Two skip-a-payment requests are allowed in one calendar year (must allow one month in between skips). Other restrictions may apply.
**The following loans are not eligible: Wilson Loan, Line of Credit, Real Estate, Credit Cards, Single Payment, Share and Certificate Secured, Stock Secure. Collateralized loans with an original term greater than 84 months are not eligible. Interest will accrue on all affected loans and may cause the maturity date on each to be extended. If your loan payments are automatically deducted, your regular payment will remain in your account and the due date will be advanced to the next scheduled date. Program is not available for delinquent loans. For members who have Guaranteed Asset Protection (GAP), coverage does not extend to the amount of the payment deferred. Also, you agree that by skipping your payment, your original GAP waiver election remains in effect. We reserve the right to decline any request. All accounts must be in good standing.