Make your month easier
Let’s face it: some months are tough. We know that at MagFed, which is why we have Skip-a-Payment available on most of our loans. This means that sometime during the course of your loan, you can choose to simply “skip” an upcoming payment.
The way it works is easy. Follow the instructions under “Services” in NetTeller Online Banking to choose which loan or loans you’d like to defer. Your terms and conditions will stay the same and interest will continue to build.
This skip won’t affect your credit and you’ll only have to pay a minimal processing fee. We’ll extend the maturity date of the loan by one month to account for the skipped payment. If you have any questions at all, feel free to contact one of our member representatives.