Starting next week, CU*Answers, the West Michigan-based core processing CUSO, will begin offering an automated consumer loan skip-pay program. The new feature eliminates most of the manual processing credit unions do today for member-elected consumer loan skip-pay programs.  Credit Unions commonly offer skip-pay programs during December and January.  This allows a member to elect to skip a loan payment during the hectic holiday season.

The credit union sets up the skip-pay program with the desired parameters and the member is opted in for the program either by a Member Services Representative at the credit union or by the member via It’s Me 247 online banking.