Media City Credit Union, a local financial cooperative that returns its revenue to its member-owners, again offered Skip-a-Payment on a loan this past holiday season, which has been a fan favorite every year. Over the past holiday season, the credit union has helped 48 members with over $21,000 in jump payments.
Most Media City Credit Union loans come with the Skip-a-Payment option. As long as a loan account remains in good standing, it is possible to skip a payment for a small fee.
This option is the perfect opportunity to get a little extra cash during the holidays or after the holiday bills start rolling in.
Skip-a-Payment is available on these loans:
- Car loans
- RV Loans
- Big toy loans
- Signature Loans
It is not available for credit cards or home loans. One payment per loan per year can be skipped. Excludes loans opened for less than 6 months.
*A $35 processing fee will apply. Media City Credit Union (MCCU) will defer payments on each approved loan. Interest will continue to accrue on outstanding balances and may result in higher total finance charges. It may be necessary to make additional payments after the loan would otherwise have been paid off. Skipping payments will extend the term of your loan. All accounts with MCCU must be current and in good standing. All skip payments (deferrals) are subject to final approval by the MCCU. MCCU reserves the right to terminate this offer if financial circumstances change prior to credit union approval. It is necessary to resume a regular payment schedule after the “skipped” month. For members who have Guaranteed Asset Protection (GAP), the claims coverage does not extend to the amount of the deferred payment(s). Additionally, coverage will not be extended beyond the original expiration date. All requests must reach us five (5) days prior to your scheduled payment due date. Skip payment is not available on Visa or home loans.
About Media City Credit Union
Media City Credit Union has been serving its members since 1936, when we were founded by
employees of Helms Bakeries. A credit union is like a bank, only better. Media City offers checks, savings, credit cards, and loans, but the benefits flow back to members in the form of reduced fees, higher savings rates, and lower loan rates. Media City CU is a financial cooperative that gives back to its member-owners.
The credit union offers free access to 75,000 ATMs worldwide and provides online account access. If you live, work, worship, or go to school anywhere in Burbank, or have a relative who is already a member, you can also become a member. As soon as you join, your family members also become eligible. Media City CU has partnered with the ChangeWorks Foundation and by donating a minimum of $25 to this wonderful cause (Media City matches the $25 donation) you also become eligible for membership. New members have immediate access to all services, including loans.