Delay a Pay

Delay-a-Pay Authorization Request Form

Veridian Credit Union offers members the opportunity to defer certain loan payments through the Delay-a-Pay program. Please thoroughly read the terms and conditions below, as you will agree to the terms by signing this form.

1. There is a $30 service fee to delay each payment on each loan. This fee is due at the time the Delay-a-Pay authorization is returned to Veridian Credit Union.
2. You must complete one authorization request form per eligible loan. Delay-a-Pay will not be processed until this form is complete and approved by Veridian Credit Union.
3. All accounts with Veridian Credit Union must be current in order to process your Delay-a-Pay request. Additionally, your request may not be approved if the loan is more than 15 days past due. Your request will not be approved if more than one loan payment is due. A Delay-a-Pay is effective on the date this form is returned and the service fee is paid.
4. Any automatic payments Veridian Credit Union initiates from an account with another financial institution require an additional signature(s) to stop. Requests to stop automatic payments must be received at least three business days prior to the next payment due date. A business day is defined as a weekday, excluding Saturdays, Sundays or federal holidays.
5. If applicable, you will be responsible for stopping and restarting recurring payments set up in online banking. Veridian Credit Union does not have access to modify online banking payments.
6. With some limitations, Delay-a-Pay applies to the following loan types only: vehicle (some limitations may apply), recreational vehicle, consumer goods, personal unsecured and share-secured. Delay-a-Pay cannot be used for these loans: business, mortgage, home equity, home equity line of credit, payday. Delay-a-Pay cannot be used for overdraft protection lines of credit.
7. You may defer one monthly payment per eligible loan twice per calendar year. Consecutive deferrals are not permitted. Vehicle loans with default insurance obtained by the creditor are limited to one deferred payment per calendar year.
8. Loans with collateral protection insurance are not eligible for Delay-a-Pay. You cannot defer the first payment of a new loan. If you are experiencing a long-term financial hardship that affects your ability to make loan payments, please contact Account Resolution at (800) 235-3228, ext. 3377.
9. If approved, this Delay-a-Pay will defer the next monthly payment or remainder of the next monthly payment on your loan. If your payment is made more frequently than once per month, the following number of payments will be delayed: weekly equals four consecutive payments, every other week equals two consecutive payments, twice a month equals two consecutive payments.
10. Finance charges will continue to accrue on a daily basis.
11. A Delay-a-Pay may reduce the total value of the benefits provided by ancillary credit products sold in connection with the loan. Refer to applicable product agreement for details.
12. Delay-a-Pay fees paid by check may be subject to a non-sufficient funds charge. Please see Veridian Credit Union's Fee Schedule for the current charge amount. If charged, this fee will be added to the loan balance, and the corresponding Delay-a-Pay will be reversed.