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You can now skip a loan payment throughout the year

Arsenal News
You can now skip a loan payment throughout the year

Take a break from your monthly loan payment with our Skip-a-Pay program.

Everyone deserves a break. Some people see this as a break from work, but we see it as a break from your monthly loan payments. Our Skip-a-Pay program allows you to skip a loan payment and use the money for anything else you want or need. Skipping your loan payment will not affect your credit score.

What’s different about our Skip-a-Pay program?

In the past, you could only skip a loan payment in either December or January. Now you can skip a payment on your eligible Arsenal loan any month of the year (once every 12-month period). You can skip a loan payment once per year for up to five years.

How much does it cost to skip a loan payment?

The processing fee for each loan you skip is 10 percent of the monthly loan payment amount. For example, you would pay $15 to skip a monthly payment of $150. For loan amounts that are $500 or greater, it’s a flat $50 fee.

How do I skip a loan payment?

To get started, complete and print this form and drop it off at any of our branches, mail it to the loan department (3780 Vogel Road; Arnold, MO 63010) or fax it to us at 314.919.1039. We’ll take care of the rest.

Where can I get more information?

If you’re interested in skipping a loan payment or seeing if you qualify for the program, feel free to contact us.