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Certificate of Deposit

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  • Overview

    How to Build a CD Ladder

    Here’s an example of how to set up a CD ladder. Let’s say you want to build a three-year CD ladder with three rungs. If you have $5,000, then you might divide the funds into three CDs with different maturity dates:

    • $1,000 in a 1-year CD
    • $1,000 in a 2-year CD
    • $1,000 in a 3-year CD

    *Rates in the How to Build a CD Ladder example are not exact and are used for illustration purposes only.

    *An early withdrawal penalty is imposed if you withdraw any funds before maturity date.

    When the first CD matures, you continue to build your ladder by reinvesting the funds into a new three-year CD with a higher yield. Then, when the 16-month CD matures, use the proceeds from that account to open a new three-year CD. Continue the process each year for as long as you want to maintain the CD ladder.

    Open a CD investment.

    CD Ladder Special with a minimum of $500 features:

    • Choice of any CD ladder terms.
    • Option to create a CD ladder combo of terms and rates
    • Guaranteed rates for the duration of the certificate
    • Dividends compounded and paid quarterly

    Certificate of Deposit Benefits:

    • No monthly or maintenance fees
    • Open a Certificate with as little as $500 for all terms
    • Flexible terms to suit members’ savings needs
    • Funds are insured for up to $250,000 by the NCUA
    • Jumbo CDs are available with a minimum deposit of $25,000 for terms 6 months to 5 years and will automatically renew for the same term length at the rate in effect on the renewal date.

    PDCU Certificate of Deposits Feature:

    • Choice of terms
    • Guaranteed rates for the term of the certificate
    • Dividends compounded and paid quarterly

    This location has always been a great place to do business.

    Donica - "member since forever"
  • Rates

    Savings are NCUA-insured up to Member’s applicable limits.

    Savings Certificates and IRA Certificates Traditional-Roth-Educational

    Rates Effective as of: 05-19-2024
    Term Minimum Balance Dividend RateAPY
    6 Month $500 2.624% 2.65%
    6 Month Jumbo$25,000 2.673%2.70%
    1 Year $5002.722%2.75%
    1 Year Jumbo$25,0002.771%2.80%
    1 Yr Super Jumbo$100,0002.820%2.85%
    Save to Win CD$252.673%2.70%
    1 Year Youth (<$10,000)$254.426%4.50%
    1 Year Youth (>$10,000)$254.426%4.50%
    2 Year$5002.231%2.25%
    2 Year Jumbo$25,0002.280%2.30%
    3 Year$5002.231%2.25%
    3 Year Jumbo$25,0002.280%2.30%
    4 Year$5002.477%2.50%
    4 Year Jumbo$25,0002.526%2.55%
    5 Year$5002.477%2.50%
    5 Year Jumbo$25,0002.526%2.55%
    CD Special 9 Month $5004.957%5.05%
    CD Special 16 Month $5004.668%4.75%
    CD Special 28 Month $5004.378%4.45%

    Rates Effective as of: 05-19-2024
  • FAQs

    Frequently Asked Questions

    You will receive a notice in the mail 30 days before the maturity date of your CD.
    Once the initial deposit has been made funds cannot be added to the CD until maturity.  Once the CD matures you may add funds if you wish to renew the CD.
    Yes.  The penalty for withdrawing from/closing the CD will be based on the interest earned on the account.
    Although a CD is not necessarily liquid, it is considered one of the safest investments available. The longer CD you have, the higher the rate is going to be. There are no fees for the Certificate of Deposit, and you earn interest based on the balance in the CD.
    People Driven offers multiple CDs starting from just a $25 minimum!  Please reach out to us at 248-263-4100 if you have any interest in a CD or check out our CD pages!

Setup a CD ladder today!

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APY=Annual Percentage Yield. The minimum to open a 6-month CD is $500; the maximum is $250,000. The minimum to open any other term CD is $2,500. APY is based on the assumption that interest will remain in the account until maturity. Withdrawals and fees may reduce earnings. It may be discontinued or changed at any time. Early Withdrawal Penalty for fixed term certificates (CDs) and IRAs: Loss of 30 days interest for CDs with a term of 6 months or less. Loss of 90 days interest for CDs with a term greater than six months or equal to 12 months. Loss of 180 days interest for CDs with a term greater than 12 months.

People Driven Credit Union savings are Federally insured to at least $250,000 by the NCUA and backed by the full faith and credit of the United States Government. APR = Annual Percentage Rate. Rates are effective as of today and may change at any time. Penalties apply for early withdrawal. View our Privacy Policy and read our disclaimer regarding links to other sites.