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People Driven Credit Union

Holiday Club Savings Account

Save for the Holidays with a Dedicated Savings Account

Open a Holiday Club Savings Account

Plan Ahead, Enjoy the Holidays

It’s never too early to start saving for the holiday season! With our Holiday Club Savings Account, you can put money aside throughout the year and avoid the financial strain during the holidays—or the credit card debt that can follow.

How It Works:

  • Easy and Flexible Savings: Make deposits at your convenience—set up automatic transfers or add funds manually whenever you choose.
  • No Minimum Deposit: Start saving today with as little or as much as you’d like—there’s no minimum deposit required.
  • Automatic Transfer: On October 1st each year, your accumulated savings are automatically transferred to your regular savings account, so your holiday funds are ready just in time for shopping, travel, or special events.

Why Choose a Holiday Club Account?

  • Avoid Holiday Debt: By planning ahead and saving gradually, you’ll reduce the need to rely on credit cards or loans during the holiday season.
  • Stress-Free Spending: Enjoy the festive season knowing your holiday budget is already secured.
  • Yearly Savings Goal: Whether it’s for gifts, travel, or celebrations, our Holiday Club helps you reach your financial goals in time for the holidays.

Features:

  • No Fees: No monthly service fees, so your money stays where it belongs—growing in your account.
  • Convenient Access: Track your progress anytime with online or mobile banking.
  • Automatic Transfers: Funds are moved to your savings account automatically, giving you easy access when it matters most.

Ready to Start Saving?

Open a Holiday Club Savings Account today and set yourself up for a financially stress-free holiday season. Whether you’re saving for gifts, travel, or special holiday memories, our Holiday Club Account makes it easy to prepare.

Account Details:

  • Minimum Deposit: $0.00
  • Account Access: Online and mobile banking, in-branch deposits
  • Automatic Transfer Date: October 1st each year

Frequently Asked Questions

You must be the child’s parent, grandparent, or legal guardian to open and manage an account. As the joint account holder, you’ll be able to set up account alerts, parental controls, online access and more.
It’s a bank account that can help your kids and teens learn to manage money. Our youth accounts come with both a checking and saving account where parents are able to set up alerts and limits. Plus, you can guide your child through real-world experiences like using an ATM. There’s a minimum of $5 for the first deposit – and no monthly service fee.
Our youth accounts are for ages 0-17.

A 16-month CD (Certificate of Deposit) is a type of savings account offered by banks and credit unions. Here are the key characteristics:

  • Fixed Term: It has a maturity period of nine months, during which the deposited money is locked in.
  • Interest Rate: Typically offers a fixed interest rate generally higher than regular savings accounts.
  • Minimum Deposit: Often requires a minimum deposit amount to open the account.
  • Early Withdrawal Penalty: If you withdraw the funds before the 16-month term ends, you usually incur a penalty, a portion of the interest earned, or a specified fee.
  • FDIC Insured: In the United States, CDs from credit unions are usually insured by the National Credit Union Administration (NCUA) up to $250,000 per depositor per credit union.

A 16-month CD can be a good option if you have a specific short-term savings goal and want to earn a higher interest rate without taking on much risk.

A 16-month CD works as follows:

  • Opening the CD: You deposit a lump sum of money into the CD account. The amount often needs to meet the bank or credit union's minimum deposit requirement.
  • Fixed Term: The money is committed to the CD for a fixed term of nine months. During this period, you cannot add to or withdraw from the principal amount without incurring penalties.
  • Interest Rate: The bank or credit union pays you a fixed interest rate on the deposited amount for the entire term. This rate is usually higher than that of a regular savings account because the bank can use your money for a predictable period.
  • Interest Accumulation: Interest is typically compounded and credited to your account at regular intervals, such as monthly or quarterly.
  • Maturity: At the end of the 16-month term, the CD matures. You then have a few options:
    • Withdraw the funds: You can take out your initial deposit plus the interest earned.
    • Renew the CD: You can roll over the funds into a new CD, either for the same term or a different one, possibly at a new interest rate.
    • Transfer the funds: You can transfer the money to another account.
  • Early Withdrawal Penalty: If you need to access the money before the 16-month term ends, you will likely face an early withdrawal penalty. This penalty varies by institution but generally involves forfeiting a portion of the interest earned.
  • FDIC/NCUA Insurance: If the CD is held at a bank, it is insured by the FDIC (Federal Deposit Insurance Corporation) up to $250,000 per depositor per bank. If held at a credit union, it is insured by the NCUA (National Credit Union Administration) with the same coverage limits.

A 16-month CD can be a suitable option for short-term savings goals, offering a balance between earning a higher interest rate and having your money tied up for a relatively short period.

Yes, your money is safe in a 16-month CD. At People Driven Credit Union, our CDs are insured by the NCUA (National Credit Union Administration) up to $250,000 per depositor.

Withdrawing money from a 16-month CD before the term ends typically incurs an early withdrawal penalty. At People Driven Credit Union, the Early Withdrawl Penalty is a Loss of 90 days of interest for withdrawing funds early.

APY stands for Annual Percentage Yield. It is a measure of the total amount of interest earned on an account based on the interest rate and the frequency of compounding over a year. APY is a useful metric for comparing the annual earnings on different savings products, such as savings accounts, CDs, and money market accounts, because it standardizes the effect of compounding.

Key Points About APY

  • Includes Compounding: APY accounts for how often interest is compounded (e.g., daily, monthly, quarterly), which can significantly affect the total interest earned over time.
  • Comparison Tool: APY provides a standard way to compare the annual interest earnings of different savings products, regardless of how frequently interest is compounded.
  • Formula: The formula for calculating APY is: 
    APY = (1 + r/n)^n - 1
    where r is the nominal interest rate (expressed as a decimal), and n is the number of compounding periods per year.
  • Higher APY: A higher APY indicates that you will earn more interest on your money over a year, assuming the same principal amount.

Example

For example, if a savings account offers an interest rate of 5% compounded monthly, the APY would be higher than 5% due to the effect of monthly compounding. This makes APY a useful metric for comparing the real return on different financial products.

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!

Think of a CD (Certificate of Deposit) like a special piggy bank at People Driven Credit Union. You put your money in our big piggy bank, promise to leave it there for one year, and when the year is up, we give you all your money back plus extra money called interest. The longer you let us keep it safe, the more it can grow. It’s a fun way for kids to learn patience, saving, and how money can earn more money over time.

Early withdrawal penalties may apply and could reduce earnings. Ask us for current terms before withdrawing.
Absolutely. Parents and grandparents often open Youth CDs for birthdays, holidays, or special milestones. While kids might not fully appreciate the gift right away, the value grows over time.
A Youth CD earns a higher rate and helps teach the value of setting money aside for a specific period of time—building patience and healthy saving habits.
Youth CDs are available for members under 18. A parent, guardian, or custodian must be listed jointly on the account.
Yes! You can make additional deposits anytime until the CD matures.
The Youth CD is a one-year certificate. At the end of the year, you can renew it or withdraw the funds.
Just $25 is all it takes to get started. You can make additional deposits anytime until the CD matures.
Overdraft Protection Transfer is an optional service offered by People Driven Credit Union that allows eligible members to link a savings account to a checking account. If there are insufficient funds in your checking account to cover a transaction, available funds from the linked savings account may be automatically transferred to cover the shortfall. This service is designed to reduce the likelihood of declined transactions or returned items due to insufficient funds (NSF). Key details:
  • Transfers occur only if sufficient funds are available in the linked account.
  • A per-transfer fee may apply. View our current fee schedule.
  • Funds are transferred in the exact amount needed to cover the transaction, subject to available balance and transfer limits.
Overdraft Protection Transfers are subject to account eligibility, terms, and limitations. Not all accounts qualify. Transfers from savings accounts are subject to regulatory and policy limits. For full details, contact a PDCU representative or review our account disclosures.
Courtesy Pay is a discretionary overdraft service offered by People Driven Credit Union to eligible members with checking accounts in good standing. If you do not have sufficient funds available in your account to cover a transaction, we may choose to pay it on your behalf, up to a preset limit. This service is intended to help avoid declined transactions or returned items due to insufficient funds (NSF). Courtesy Pay may apply to the following types of transactions:
  • Checks
  • ACH transactions (such as electronic bill payments)
  • Recurring debit card payments
To extend Courtesy Pay coverage to everyday debit card transactions (such as point-of-sale or ATM transactions), you must provide affirmative consent (opt-in). Contact us to learn more or to request opt-in coverage.

Important Disclosures:

  • Eligibility is based on account history and credit union discretion. Not all accounts qualify.
  • A per-item overdraft fee will apply to each transaction we pay using Courtesy Pay. View our current fee schedule.
  • There is no guarantee that we will authorize and pay any transaction, even if your account is eligible for Courtesy Pay.
Courtesy Pay is not a line of credit. Any negative balance must be repaid promptly. Repeated or excessive use may result in suspension of the service. Courtesy Pay is a discretionary service provided by People Driven Credit Union. The credit union reserves the right to suspend or discontinue this service at any time. Terms, conditions, and eligibility requirements apply. For full details, contact us or review our Courtesy Pay disclosure.

Overdraft Options

Life happens, and sometimes your balance doesn’t quite cover a transaction. At People Driven Credit Union, we offer several ways to help you manage those moments:

1. Overdraft Protection Transfer

Link your Basic Checking Account to a PDCU savings account. If your balance runs low, funds will automatically transfer (if available) to cover your transaction. A small transfer fee may apply; please refer to the Fee Schedule for details.

2. Courtesy Pay

With Courtesy Pay, we may authorize and pay overdrafts on your account at our discretion, up to a preset limit, for checks, ACH payments, and recurring debit transactions. This can help avoid declined payments or returned items.
  • Available to eligible accounts in good standing
  • Applies to checks, ACH, and recurring payments (opt-in required for everyday debit card use)
  • A per-item fee applies for each overdraft covered
Important: Courtesy Pay is a discretionary service, not guaranteed. You must bring your account to a positive balance within 30 days to remain eligible. Other restrictions may apply.

3. No Overdraft Service

You may also choose to opt out of all overdraft services. Transactions that exceed your balance will be declined, and no overdraft fee will apply. Do you have questions about your overdraft protection options, or would you like to set your preferences? Contact our Member Services team — we’re here to help you choose the option that’s right for you.
A Money Market Savings Account is a type of savings account that generally offers higher interest rates than regular savings accounts. It also has some checking account features, like limited check writing.
Money Market Accounts typically offer higher interest rates and allow for limited check writing or transfers, making them more flexible for larger balances than standard savings accounts.
At People Driven Credit Union, the Money Market Savings Account requires a minimum deposit of $1,000 to open.
Interest on a Money Market Account is calculated daily based on the account balance and is paid and compounded monthly, allowing your savings to grow faster.
No.
Yes.
Yes, funds in Money Market Accounts at People Driven Credit Union are Federally insured to at least $250,000 by the NCUA and backed by the full faith and credit of the United States Government.
Fees may apply if minimum balance requirements are unmet or the number of allowable transactions is exceeded. For more details, refer to the fee schedule provided by People Driven Credit Union.
You can open a Money Market Savings Account by visiting People Driven Credit Union in person, filling out the forms online, or, if you're a current PDCU member, using the MyPDCU app to open your account.
An IRA Variable Rate Savings Account is a retirement savings option that offers tax-advantaged growth with a flexible, variable interest rate. This account can be opened as a Traditional, Roth, or Educational IRA, depending on your tax and savings goals.
The interest rate for a Variable Rate IRA Savings Account is variable, meaning it can change over time based on market conditions. Currently, the Annual Percentage Yield (APY) for this account is [wpdatatable_cell table_id=20 row_id="2" column_key="D"].
You can open an IRA Variable Rate Savings Account with a minimum balance of $100.
Yes, this account is well-suited for those who plan to make regular contributions, as it allows flexible deposits while maintaining tax advantages.
Yes, withdrawals are allowed, but they may be subject to taxes and potential penalties depending on your account type (Traditional, Roth, or Educational IRA) and when you withdraw the funds.
Tax advantages vary by IRA type:
  • Traditional IRA: Contributions may be tax-deductible, and earnings grow tax-deferred until withdrawal.
  • Roth IRA: Contributions are made with after-tax dollars, and earnings can be withdrawn tax-free in retirement.
  • Educational IRA: Earnings grow tax-free if used for qualifying educational expenses.
Yes, IRA Variable Rate Savings Accounts at People Driven Credit Union are federally insured to at least $250,000 by the NCUA and backed by the full faith and credit of the United States Government.
A Money Market IRA is a retirement savings account that combines the benefits of a Money Market Account with the tax advantages of an Individual Retirement Account (IRA). It provides a flexible option for those who want to earn competitive interest while maintaining easy access to funds for regular withdrawals or required minimum distributions.
Yes, a Money Market IRA can be opened under either a Traditional or Roth IRA, allowing you to choose the tax structure that best meets your retirement needs.
To open a Money Market IRA with People Driven Credit Union, a minimum deposit of $1,000 is required.
Interest rates for a Money Market IRA are tiered, increasing as your balance grows. Our highest rate is available for accounts with a balance of $25,000 or more.
Yes, a Money Market IRA is well-suited for individuals who need to make regular withdrawals, such as RMDs, as it provides easy access to funds while continuing to earn interest.
Yes, you can access funds as needed. However, early withdrawals may be subject to taxes or penalties depending on your account type (Traditional or Roth) and how long you have held the funds.
To open a Money Market IRA, you’ll need to schedule an in-person appointment at one of our branch locations.
Yes, Money Market IRAs with People Driven Credit Union are federally insured to at least $250,000 by the NCUA and backed by the full faith and credit of the United States Government.

Educational IRA vs. 529

An Educational IRA, known as a Coverdell Education Savings Account (ESA), and a 529 Plan are both tax-advantaged savings options for educational expenses, but they differ in several important ways:

1. Contribution Limits

  • Coverdell ESA: Annual contribution is capped at $2,000 per beneficiary.
  • 529 Plan: Contribution limits are generally much higher, often exceeding $300,000, depending on the plan and state.

2. Use of Funds

  • Coverdell ESA: Funds can be used for both K-12 education and college expenses, covering tuition, books, supplies, and even certain tutoring services.
  • 529 Plan: Primarily designed for college expenses, but recent tax law changes allow up to $10,000 per year to be used for K-12 tuition.

3. Income Limitations

  • Coverdell ESA: There are income restrictions for contributors. Individuals earning more than $110,000 (or couples earning more than $220,000) may not contribute.
  • 529 Plan: No income restrictions apply to contributions, making it more accessible to a broader range of contributors.

4. Control and Investment Options

  • Coverdell ESA: Offers more flexibility in investment choices, allowing account holders to choose from various stocks, bonds, or mutual funds.
  • 529 Plan: Investment options are generally limited to a selection provided by the state or plan administrator, often with age-based portfolios that adjust risk over time.

5. Ownership and Control of Funds

  • Coverdell ESA: If funds aren't used for education, the account must be transferred to the child when they turn 30.
  • 529 Plan: The account owner retains control over the funds indefinitely, and there’s no age limit for the beneficiary to use the funds.

6. Tax Benefits

  • Both accounts grow tax-free, and qualified withdrawals for education expenses are also tax-free.

In summary, the Coverdell ESA offers flexibility in investment options and covers a broader range of K-12 expenses. At the same time, the 529 Plan has higher contribution limits and no income restrictions and is more commonly used for college savings.

Withdrawing money from a 9-month CD before the term ends typically incurs an early withdrawal penalty. At People Driven Credit Union, the Early Withdrawl Penalty is a Loss of 90 days of interest for withdrawing funds early.

Yes, your money is safe in a 9-month CD. At People Driven Credit Union, our CDs are insured by the NCUA (National Credit Union Administration) up to $250,000 per depositor.

When you’re comparing savings accounts, CDs, or other financial products, you’ll often see two numbers: an interest rate (or dividend rate, if it’s a credit union account) and an Annual Percentage Yield (APY). At first glance, they might seem like the same thing—but they’re not. Knowing the difference helps you make smarter financial choices, whether you’re opening a savings account or making a long-term investment. Let’s break it down.

Interest Rate or Dividend Rate: the Base Number

Interest Rate

The interest rate is the basic percentage a bank or credit union uses to calculate how much you’ll pay on a loan or earn on a deposit, before considering how often interest is added (compounded). Let’s say you open a credit union savings account with an interest rate of 3.00%. That’s the base rate your money earns before compounding is applied.

Dividend Rate

At a credit union, the term "dividend rate" is often used instead of "interest rate" for deposit accounts. As a member-owner, you’re technically receiving a share of the credit union’s earnings—similar to a dividend from a company. Functionally, though, the dividend rate works the same way as an interest rate on a bank account.

Annual Percentage: the Full Picture of Earnings or Costs

Annual Percentage Yield (APY)

APY shows how much you earn in a year on deposits, including the effects of compounding. Compounding is the process of earning interest on your interest (for deposits) or being charged interest on interest (for loans).  If your account compounds interest daily or monthly, you’ll earn a bit more than the base rate, because you start earning interest on the interest that’s already been added. That extra boost from compounding is why the APY is slightly higher than the interest/dividend rate.

Compounding Interest: Dividend Rate vs APY

APY provides a clearer picture of the actual annual earnings from savings accounts, money markets, and certificates because it includes compounding. For loans, APR is the more accurate number for comparing costs between offers, because it reflects compounding as well as fees.
  • Interest Rate/Dividend Rate: If a savings account offers a 5% interest rate compounded monthly, the nominal rate is 5%. This is the base number for how much your balance will grow before compounding.
  • APY: When considering the monthly compounding, the same account will have an APY slightly higher than 5% because the interest earned each month also earns interest in subsequent months.

Comparing Financial Offers Using APY

If you only look at the interest or dividend rate, you might think two products are equal—but differences in compounding or fees can make one clearly better for your wallet. A savings account with a slightly lower rate but daily compounding could earn you more than one with a higher rate but annual compounding.

Interest Rate vs APY Example

Always use APY when comparing savings products from different institutions. Knowing the difference between the base rate and APY helps you see the full picture, allowing you to make confident choices—whether you’re saving for a big purchase or making long-term investments. Let’s compare two savings accounts:  
Account Dividend/ Interest Rate Compounding

APY

A

 3.00% Annual 3.00%
B 3.00% Monthly

3.04%
Both accounts have the same base rate, but because Account B compounds monthly, the APY is slightly higher. That’s the effect of compounding.

Let Us Help You With the Next Big Stage of Your Life

At People Driven Credit Union, we’re dedicated to helping you achieve your financial goals. As a member-owned financial institution, we’re literally invested in your future—and stand behind our commitment to transparency, security, and service excellence. Become a member and open an account today!  

1. How often are dividends compounded?

Dividends on savings, money market accounts, and certificates are typically compounded and credited monthly unless otherwise stated in the account disclosure. Compounding helps your balance grow by earning dividends on previously earned dividends.

2. Why is the APY higher than the dividend rate on a certificate?

The dividend rate is the base rate used to calculate earnings. APY shows what you actually earn over a year, including compounding. Because dividends are compounded, the APY is slightly higher than the dividend rate.

3. What is the difference between APY and APR?

APY applies to deposit accounts and shows how much you earn in a year. APR applies to loans and shows the total yearly cost of borrowing, including certain fees. Use APY when comparing savings products and APR when comparing loans.

4. Does compounding frequency really make a difference?

Yes. The more often dividends are compounded, the sooner you begin earning dividends on previously earned dividends. Over time, even small differences can increase your total earnings.

5. When comparing accounts, should I look at the dividend rate or APY?

APY is the better number to compare. It reflects the total amount you can expect to earn over a year, including compounding, giving you a clearer picture of your true return.

A 9-month CD works as follows:

  • Opening the CD: You deposit a lump sum of money into the CD account. The amount often needs to meet the bank or credit union's minimum deposit requirement.
  • Fixed Term: The money is committed to the CD for a fixed term of nine months. During this period, you cannot add to or withdraw from the principal amount without incurring penalties.
  • Interest Rate: The bank or credit union pays you a fixed interest rate on the deposited amount for the entire term. This rate is usually higher than that of a regular savings account because the bank can use your money for a predictable period.
  • Interest Accumulation: Interest is typically compounded and credited to your account at regular intervals, such as monthly or quarterly.
  • Maturity: At the end of the 9-month term, the CD matures. You then have a few options:
    • Withdraw the funds: You can take out your initial deposit plus the interest earned.
    • Renew the CD: You can roll over the funds into a new CD, either for the same term or a different one, possibly at a new interest rate.
    • Transfer the funds: You can transfer the money to another account.
  • Early Withdrawal Penalty: If you need to access the money before the 9-month term ends, you will likely face an early withdrawal penalty. This penalty varies by institution but generally involves forfeiting a portion of the interest earned.
  • FDIC/NCUA Insurance: If the CD is held at a bank, it is insured by the FDIC (Federal Deposit Insurance Corporation) up to $250,000 per depositor per bank. If held at a credit union, it is insured by the NCUA (National Credit Union Administration) with the same coverage limits.

A 9-month CD can be a suitable option for short-term savings goals, offering a balance between earning a higher interest rate and having your money tied up for a relatively short period.

A 9-month CD (Certificate of Deposit) is a type of savings account offered by banks and credit unions. Here are the key characteristics:

  • Fixed Term: It has a maturity period of nine months, during which the deposited money is locked in.
  • Interest Rate: Typically offers a fixed interest rate generally higher than regular savings accounts.
  • Minimum Deposit: Often requires a minimum deposit amount to open the account.
  • Early Withdrawal Penalty: If you withdraw the funds before the 9-month term ends, you usually incur a penalty, a portion of the interest earned, or a specified fee.
  • FDIC Insured: In the United States, CDs from credit unions are usually insured by the National Credit Union Administration (NCUA) up to $250,000 per depositor per credit union.

A 9-month CD can be a good option if you have a specific short-term savings goal and want to earn a higher interest rate without taking on much risk.

Gone are the days when you had to visit a branch to deposit your checks. With People Driven Credit Union’s mobile check deposit service, managing your finances becomes a breeze. This technology, known as remote deposit capture, lets you deposit checks from anywhere by simply snapping a picture with your device. How Mobile Check Deposit Works: Screenshot of the new PDCU digital banking app with mobile check deposit, on an iPhone.
  1. Set the Stage: Place your check against a dark background to ensure all details are captured clearly due to the contrast.
  2. Sign and Specify: Endorse the back of the check and write “For Mobile Deposit Only to PDCU” along with your clear signature and account number to streamline processing.
  3. Open the MyPDCU App: Log in and select "Deposits."
  4. Enter the Check Details: Enter the check amount and select the account where you want to deposit it.
  5. Capture the Check Images: Place the front of the check within the phone's frame and tap the screen to capture an image. Repeat for the back of the check.
  6. Verify the Deposit: Check your transaction history in the app to ensure the deposit was successful.
  7. Secure Disposal: After confirming the deposit, cut up the check to secure your personal information. Dispose of the pieces separately.
The check will be deposited into the requested account and become available according to our standard check processing timeline. Past deposits can be viewed in the app. For additional details, please visit our website at peopledrivencu.org/amazing or contact us if you have questions. Embrace simplicity and security with our digital banking solutions. At People Driven Credit Union, we're here to make your financial management effortless.

An Educational IRA Certificate, commonly known as a Coverdell Education Savings Account (ESA) Certificate, is a savings product designed to help families save for educational expenses. This type of account combines the benefits of a Certificate of Deposit (CD) with the tax advantages of a Coverdell ESA. Here’s a detailed explanation of its key aspects:

Key Features:

  • Tax Advantages: Contributions grow tax-deferred, and withdrawals are tax-free when used for qualified educational expenses.
  • Fixed Interest Rate: Like a traditional CD, an Educational IRA Certificate offers a fixed interest rate, providing a predictable return on your investment over a specified term.
  • Term Options: These certificates typically come with various term lengths, allowing you to choose one that matches your timeline for the funds needed for educational expenses.
  • Contribution Limits: The annual contribution limit for a Coverdell ESA is $2,000 per beneficiary. Contributions must be made with after-tax dollars, but the earnings grow tax-deferred.
  • Age Limits: Contributions can be made until the beneficiary reaches age 18. The account must be used for educational expenses by the time the beneficiary reaches age 30.
  • Qualified Expenses: Funds can be used for a wide range of educational expenses, including tuition, fees, books, supplies, equipment, and sometimes, room and board for students enrolled at least half-time.
  • Transferability: If the designated beneficiary does not need the funds, the account can be transferred to another eligible family member without penalty.

Benefits of an Educational IRA Certificate:

  • Tax-Free Withdrawals: When used for qualified educational expenses, withdrawals are tax-free, providing significant savings.
  • Predictable Returns: Fixed interest rates offer stability and predictability for your savings.
  • Wide Range of Uses: Funds can be used for various educational expenses, covering primary, secondary, and higher education.

Considerations:

  • Contribution Limits: The annual contribution limit is relatively low, which might not cover all educational expenses but can significantly help.
  • Age Restrictions: Contributions must stop when the beneficiary turns 18. Funds must be used by age 30, or they will incur taxes and penalties.
  • Early Withdrawal Penalties: If funds are not used for qualified educational expenses, withdrawals will be subject to taxes and penalties on the earnings.

Educational IRA Certificates are Suitable For:

  • Parents and Guardians: Those looking to save for their child's educational expenses in a tax-advantaged way.
  • Family Members: Relatives who want to contribute to a child's education savings.
  • Long-Term Planners: Investors who prefer the stability and predictability of a fixed interest rate over time.

An Educational IRA Certificate is an excellent tool for families planning future educational expenses. It combines the security and predictability of a traditional CD with the tax advantages of a Coverdell ESA, making it a valuable addition to your education savings strategy.

A Money Market IRA Certificate is a retirement savings product that combines the features of a money market account with those of a Certificate of Deposit (CD), all within the structure of an Individual Retirement Account (IRA). Here’s a detailed explanation of its key aspects:

Key Features:

  • Higher Interest Rates: Higher interest rates compared to regular savings accounts. The rates are typically variable and can change based on market conditions.
  • Tax Advantages: Contributions grow tax-deferred. If the account is a Traditional IRA, contributions may be tax-deductible. For Roth IRAs, contributions are made with after-tax dollars, but qualified withdrawals are tax-free.
  • Flexible Terms: These certificates may offer various term lengths, allowing you to choose a term that aligns with your retirement planning.
  • Liquidity and Access: Money Market IRA Certificates often provide more liquidity than traditional CDs. You might be allowed to make a limited number of withdrawals or transfers without incurring penalties, although this can vary by institution.
  • Stable Investment: They are generally considered low-risk investments, providing stability and security for your retirement funds. The principal is typically protected, and you earn a steady return.
  • Contribution Limits: The annual contribution limits for Money Market IRA Certificates are the same as for other IRAs set by the IRS.
  • Insurance: Money Market IRA Certificates are usually insured by the FDIC (for banks) or the NCUA (for credit unions) up to applicable limits, providing an extra layer of security.

Benefits of a Money Market IRA Certificate:

  • Tax-Deferred Growth: Your earnings grow tax-deferred in a Traditional IRA or potentially tax-free in a Roth IRA.
  • Higher Returns: Often offer higher returns than regular savings accounts while maintaining a low-risk level.
  • Flexibility: Typically more flexible than traditional CDs, some allowing limited withdrawals.
  • Security: FDIC or NCUA insurance provides peace of mind that your investment is protected.

Considerations:

  • Variable Rates: Interest rates can fluctuate based on market conditions, which might affect the growth of your savings.
  • Contribution Limits: Be mindful of the annual contribution limits the IRS sets.
  • Early Withdrawal Penalties: Similar to other IRAs, early withdrawals before age 59½ may incur penalties and taxes, except for qualified exceptions.

Money Market IRA Certificates Are Suitable For:

  • Conservative Investors: Those looking for a stable and low-risk investment for their retirement savings.
  • Retirement Savers: Individuals who want the benefits of a money market account combined with the tax advantages of an IRA.
  • Those Needing Flexibility: Investors who prefer the potential for higher returns with some access to their funds.

A Money Market IRA Certificate is an excellent option for individuals seeking a balance between earning a higher return on their retirement savings and maintaining a low-risk investment. It offers the benefits of tax-deferred growth, competitive interest rates, and the security of a money market account, all within the framework of an IRA.

A Traditional IRA Certificate is a type of savings product offered by financial institutions that combines the benefits of a traditional Individual Retirement Account (IRA) with the features of a Certificate of Deposit (CD). Here’s a breakdown of its key aspects:

Key Features of a Traditional IRA Certificate:

  1. Tax-Deferred Growth:
    • Contributions to a Traditional IRA are often tax-deductible, meaning you can reduce your taxable income in the year you make the contribution.
    • The money in the account grows tax-deferred, meaning you don’t pay taxes on the earnings until you withdraw the money during retirement.
  2. Fixed Interest Rate:
    • Traditional IRA Certificates typically offer a fixed interest rate for a specified term, providing predictable returns.
  3. Terms and Maturity:
    • These certificates usually have specific terms ranging from a few months to several years.
    • At the end of the term, known as the maturity date, you can either withdraw the funds, renew the certificate, or roll it over into another IRA.
  4. Early Withdrawal Penalties:
    • Withdrawing funds before the certificate matures may incur penalties.
    • Additionally, withdrawals before age 59½ are generally subject to a 10% early withdrawal penalty on top of regular income taxes, though there are exceptions for certain circumstances.
  5. Contribution Limits:
    • The annual contribution limits are the same as for IRAs, set by the IRS.
  6. Required Minimum Distributions (RMDs):
    • Starting at age 73 (as of 2023), you must begin taking required minimum distributions from your Traditional IRA, which includes funds in IRA Certificates.

Benefits:

  • Secure and Predictable: Since Traditional IRA Certificates offer fixed rates, they provide a secure and predictable way to grow retirement savings.
  • Tax Advantages: Contributions may be tax-deductible, and the earnings grow tax-deferred.
  • Retirement Savings: This is an effective tool for long-term retirement savings, offering a steady growth path.

Considerations:

  • Penalties for Early Withdrawal: Be mindful of the penalties associated with early withdrawal both from the certificate and from the IRA.
  • Contribution Limits: Stay within the annual contribution limits set by the IRS.
  • RMDs: Plan for required minimum distributions starting at age 73.

Traditional IRA Certificates are a good choice for conservative investors looking to grow their retirement savings with minimal risk and tax advantages.

Saving for retirement can quickly get overwhelming, especially if you’re new to investing. One option that combines the familiar structure of a credit union savings account with the long-term advantages of a retirement plan is a Roth Individual Retirement Account (IRA) Certificate. Think of it as a hybrid between a Roth IRA and a share certificate. You get the tax benefits of a Roth IRA while locking in a fixed rate of return on a traditional Certificate of Deposit (CD).

Benefits of a Roth IRA Certificate

A Roth IRA Certificate offers several advantages that appeal to first-time investors and experienced savers alike:

Tax-Free Growth and Withdrawals

Because it’s a Roth IRA, your contributions are made with after-tax dollars. That means your money grows tax-free, and qualified withdrawals in retirement are also tax-free. If you expect to be in a higher tax bracket later, this can be a significant advantage.

Guaranteed Rate of Return

Unlike market-based investments, a certificate has a fixed dividend rate for a set term, typically ranging from a few months to several years. Longer terms usually offer higher interest rates.

Security

Financial institutions widely recognize Roth IRA CDs as secure investments, meaning certificates are typically insured up to federal limits (currently $250,000 per depositor, per institution, for each account type). This makes a Roth IRA Certificate one of the safest ways to save for retirement.

Low Minimum Balance

Members can open a Roth IRA Certificate with a relatively small initial deposit, as low as $500, making it accessible even if you’re just starting to save. [midtextcta headline="Your Loan Starts Here" text="Begin your path to financing your dream. We'll help you turn your financial goals into reality." button="Apply Now" button_link="" background="https://www.peopledrivencu.org/wp-content/uploads/2025/05/bg-ctablock-2-graphic.jpg"]

Limitations of a Roth IRA Certificate

While a Roth IRA Certificate is a safe and straightforward retirement tool, it’s not for everyone. Here are some things to consider before you open one:

Contribution Limits

The IRS restricts the amount a person can contribute to any Roth IRA (including certificates) annually. For 2025, the maximum is $7,000 per year ($8,000 if you’re 50 or older), subject to income restrictions. You can’t exceed these limits across all your Roth IRA accounts combined.

Early Withdrawal Rules

Because the funds are inside a Roth IRA and locked in a certificate, there are two layers of restrictions:
  • Certificate term. If you withdraw your money from the CD before the term ends, you may incur early withdrawal penalties, similar to a regular CD.
  • IRA rules. Contributions can generally be withdrawn anytime without tax or penalty, but earnings are more restricted. To withdraw tax-free earnings, you must be at least 59½ and have had the Roth IRA for at least five years.

Limited Flexibility

Certificates usually offer lower long-term returns compared to stock market investments. Once you lock in a term, your rate is fixed. If market interest rates rise significantly, your certificate rate stays the same until maturity.

Who Should Consider a Roth IRA Certificate?

A Roth IRA Certificate can be an excellent choice for:
  • First-Time Investors. If the idea of investing in stocks or mutual funds feels intimidating, a Roth IRA Certificate offers a comfortable starting point. If you’re comfortable with a regular savings account or a share certificate, you’ll find a Roth IRA Certificate just as simple. You deposit a set amount, let it grow over the term, and avoid worrying about daily market changes.
  • Conservative Savers. If you value safety over high returns, a certificate provides a predictable path to retirement savings. It’s a good fit if you’re nearing retirement and can’t afford market losses.
  • Members Already Using Certificates. If you already like share certificates or CDs for regular savings, a Roth IRA Certificate lets you use the same structure for retirement, adding the tax benefits of a Roth account.
  • Diversifiers. Even if you have investments in stocks or mutual funds, adding a Roth IRA Certificate can balance your portfolio with a stable, fixed-rate component.

How Do I Open a Roth IRA CD?

Opening a Roth IRA Certificate is simple:
  • Confirm your eligibility based on IRS income limits.
  • Decide on a term and rate that fits your timeline.
  • Make your contribution (or transfer from an existing IRA).
[midtextcta headline="Your Loan Starts Here" text="Begin your path to financing your dream. We'll help you turn your financial goals into reality." button="Apply Now" button_link="" background="https://www.peopledrivencu.org/wp-content/uploads/2025/05/bg-ctablock-2-graphic.jpg"] At People Driven Credit Union, our service team can explain available rates, terms, and current IRS contribution limits to help you set up the account that works best for your retirement goals. Contact us to learn more, or open an account to become a member today!

A Certificate of Deposit is a secure and reliable savings tool that offers higher interest rates in exchange for committing your funds for a fixed period. It's an excellent option for those looking to achieve specific financial goals with minimal risk.

Key Features of a Certificate of Deposit (CD):

  • Fixed Term: CDs have a specified term or maturity date, which can range from a few months to several years. Common terms are 6 months, 1 year, 2 years, or 5 years.
  • Interest Rate: CDs typically offer a higher interest rate than regular savings accounts. The rate is fixed for the duration of the term, providing a predictable return on investment.
  • Minimum Deposit: Many CDs require a minimum deposit to open, which can vary depending on the financial institution and the specific CD product.
  • Early Withdrawal Penalties: Withdrawing funds from a CD before it matures usually incurs a penalty, which can reduce or negate the interest earned. Some CDs offer more flexible terms with lower penalties or no penalties for early withdrawal, but these often come with lower interest rates.
  • FDIC/NCUA Insurance: CDs from banks are typically insured by the Federal Deposit Insurance Corporation (FDIC), and CDs from credit unions are insured by the National Credit Union Administration (NCUA), up to the maximum limit allowed by law.

A CD (Certificate of Deposit) Ladder is an investment strategy that involves dividing a sum of money into multiple CDs with different maturity dates. The primary goal of this approach is to balance the benefits of earning higher interest rates on longer-term CDs while maintaining liquidity by having funds become available periodically. Here’s how it works:

How a CD Ladder Works

  1. Divide Your Investment:
    • You start by dividing your total investment into equal parts. For example, if you have $10,000, you might divide it into five parts of $2,000 each.
  2. Purchase CDs with Staggered Maturities:
    • Invest each portion in CDs with different maturities. For instance, you could buy a 1-year CD, a 2-year CD, a 3-year CD, a 4-year CD, and a 5-year CD.
  3. Reinvest as CDs Mature:
    • As each CD matures, you reinvest the principal (and interest, if desired) into a new CD with the longest term in your ladder. For example, when the 1-year CD matures, you would reinvest that amount into a new 5-year CD and continue this process as each CD matures.

Benefits of a CD Ladder

  1. Higher Interest Rates:
    • Longer-term CDs typically offer higher interest rates compared to short-term CDs. By using a ladder strategy, you can take advantage of these higher rates for at least a portion of your investment.
  2. Regular Access to Funds:
    • A portion of your investment will mature at regular intervals (e.g., every year), giving you periodic access to your money without penalty. This can be useful for meeting short-term financial needs or taking advantage of new investment opportunities.
  3. Reduced Interest Rate Risk:
    • By spreading your investment across CDs with varying maturities, you reduce the risk of being locked into a low-interest rate for an extended period if rates rise. As each CD matures, you can reinvest at the current rates, potentially benefiting from higher interest rates.
  4. Predictable Returns:
    • CDs are generally considered low-risk investments with fixed interest rates, providing predictable returns. This makes a CD ladder a stable and reliable investment strategy.

Example of a CD Ladder

Let's say you have $10,000 to invest and you set up a 5-year CD ladder:

  • Year 1:
    • Invest $2,000 in a 1-year CD
    • Invest $2,000 in a 2-year CD
    • Invest $2,000 in a 3-year CD
    • Invest $2,000 in a 4-year CD
    • Invest $2,000 in a 5-year CD
  • Year 2:
    • The 1-year CD matures. Reinvest the $2,000 in a new 5-year CD.
    • The other CDs continue to mature according to their original terms.
  • Year 3:
    • The 2-year CD matures. Reinvest the $2,000 in a new 5-year CD.
    • The other CDs continue to mature.
  • Year 4:
    • The 3-year CD matures. Reinvest the $2,000 in a new 5-year CD.
    • The other CDs continue to mature.
  • Year 5:
    • The 4-year CD matures. Reinvest the $2,000 in a new 5-year CD.
    • The 5-year CD continues to mature.

By the end of Year 5, you have a ladder of 5-year CDs maturing every year, providing you with a regular income stream and the opportunity to reinvest at current interest rates.

A CD Ladder is an effective strategy to maximize returns while maintaining liquidity and reducing interest rate risk. It’s an excellent choice for conservative investors looking for a predictable and stable way to grow their savings. At People Driven Credit Union, we offer competitive rates and flexible terms to help you build a CD ladder that meets your financial goals. Contact us today to learn more about how you can get started with a CD Ladder and take control of your financial future.

Set Up a CD Ladder
People Driven Credit Union Money Market Savings Accounts are insured to at least $250,000 by the National Credit Union Administration (NCUA) and backed by the full faith and credit of the United States Government.
A Money Market Savings Account is a type of savings account that typically offers higher interest rates compared to traditional savings accounts. It often requires a higher minimum balance and may provide limited check-writing capabilities.

Community Alliance Credit Union’s routing number was #272477885.

In 2023, People Driven Credit Union (PDCU) merged with Community Alliance Credit Union, formerly located at 37401 Plymouth Rd, Livonia, MI 48150.

Former CACU members should now use People Driven Credit Union’s routing number, #272484988, for all transactions and checks.

Beginning January 1, 2026, the CACU routing number (272477885) will be discontinued for check processing.

Members who have written at least one check using the CACU routing number within the past 12 months will receive notification letters in October 2025 and December 2025 reminding them of this change.

For wiring funds to a People Driven Credit Union account: Wire to:
  • Alloya Corporate Federal Credit Union 26555 Evergreen Southfield, MI 48076 ABA number: 2724-78075
Credit:
  • People Driven Credit Union 24333 Lahser Southfield, MI 48033 Account Number: 2724-84988
Final Credit Member Name:
  • Member’s PDCU Account Number Member’s Address Account member wants funds deposited into (for example, Savings or Checking)
  Electronic Fund Transfer (EFT) Disclosure – Reg E:
You have rights under the Federal Electronic Fund Transfer Act (Reg E). For questions or to report an unauthorized EFT, call us at (248) 263‑4100 immediately.
• Report errors within 60 days of statement receipt.
• We will investigate and correct errors within 45 days.
For complete details, see our Electronic Funds Transfer Disclosures page.

What is iTalk?

iTalk Telephone Teller is our automated phone banking service. Use it to check balances, see if a check has cleared, transfer between accounts, review loan balances, make loan payments from checking or savings, and request a mailed statement.

Important update (effective September 17, 2025): iTalk is not accepting new enrollments. Members already enrolled can continue using the service as usual.

Prefer faster, modern tools? Most members find Online Banking and the MyPDCU app offer more features and flexibility. Learn more at peopledrivencu.org/mobile-online/mobile-banking/.

An IRA CD works similarly to a regular CD. Your initial investment earns a fixed interest rate over a set timeframe and renews automatically. The more money you put in, the higher your rate will be, which means a more significant return on your investment. The main difference is that, unlike a regular CD, an IRA CD offers certain tax advantages associated with a traditional or Roth IRA.
PDCU's checking accounts do not require a minimum balance and have no monthly maintenance fees!
Screenshot of the new PDCU digital banking app on an iPhone.

To make a mobile deposit to your PDCU account using your smartphone, log into your MyPDCU app or the MyPDCU online banking portal and click on "Deposit." Enter the check amount, click "Continue," and select which of your accounts (if you have more than one) you want to make the deposit to. Sign your check, write "For Mobile Deposit Only at PDCU", and include your PDCU account number. Follow the instructions provided in the app to capture an image of the front and back of the check.

Anything deposited over $2,500 will be reviewed by the credit union and will not show in your account right away. Check limit is $25,000. All deposits are subject to holds.

Securely store the original check for 7 business days after the deposit. Verify you check has been credited to your account. After 7 business days, destroy the original check by marking it "VOID" and shredding it.

YES! Depending on your browser, once you have opened your statement you may see icons on the top corner for downloading and printing.  You may also right click on your mouse and choose ‘save as’ or ‘print’.
We suggest using a password only you would know. Do not save any passwords on devices that are not yours. Use facial recognition or thumbprint recognition on your private devices.
Quick answer: You can typically find tax statements in digital banking documents or by contacting People Driven Credit Union for support.

How to locate tax statements

  • Sign in to online banking and open statements/documents.
  • Select the tax year and statement type.
  • Contact member support if a document is missing.

Common questions

What if I cannot find my form?

PDCU can help verify delivery settings and statement availability for your account.
Quick answer: Is there a charge for monthly statements depends on your account type and delivery preferences. Contact People Driven Credit Union for account-specific details.

What to know

  • Policies can vary by account and statement settings.
  • Digital delivery options may change fees or timing.
  • PDCU can confirm the most current terms for your account.

Common questions

Where can I verify this for my account?

Check online banking settings or contact PDCU member support for exact details.
Quick answer: If you did not receive your monthly statement, contact People Driven Credit Union right away so we can verify delivery preferences and account details.

What to check first

  • Confirm your mailing or eStatement settings are correct.
  • Check spam/junk folders for statement notifications.
  • Verify your address and email on file are current.

Common questions

Who should I contact for missing statements?

Contact PDCU member support and request statement delivery assistance for your account.
Quick answer: Yes, People Driven Credit Union offers access to financial counseling resources through trusted partner services.

What support is available

  • Debt and credit counseling guidance
  • Budgeting and financial wellness resources
  • Education-focused support for better financial decisions

Common questions

How do I get started?

Contact PDCU to connect with the right counseling resource based on your current needs.
Quick answer: You can reduce overdraft risk by tracking balances, setting alerts, and using account tools offered by People Driven Credit Union.

How to avoid overdrafts

  • Set low-balance alerts in digital banking.
  • Review pending transactions before spending.
  • Keep a small buffer in your checking account.

Common questions

Does PDCU offer overdraft options?

Available options vary by account and member eligibility. Contact PDCU to review your coverage settings.
Quick answer: You can order checks through People Driven Credit Union using our approved check-ordering service.

How to reorder checks

  • Use the check reorder link provided by PDCU.
  • Confirm your account and shipping information.
  • Submit your order and watch for delivery timing updates.

Common questions

Can I reorder checks online?

Yes. Existing members can typically reorder checks online through the authorized provider link.
Quick answer: People Driven Credit Union offers checking account options designed for everyday spending, digital banking convenience, and member-focused service.

Checking options at PDCU

  • Everyday checking for deposits, payments, and debit card use
  • Digital access through online and mobile banking
  • Member support for account setup, card services, and account questions

Common questions

How do I choose the right checking account?

Compare account features, fees, and usage needs, then contact PDCU for help selecting the best fit.
Quick answer: You update your address quickly through People Driven Credit Union online banking or the MyPDCU mobile app. Most members finish in under two minutes. We sometimes ask for extra verification to protect your account.

How to update your address at PDCU:

  • Log in to online banking at my.peopledrivencu.org or open the MyPDCU mobile app.
  • Tap the circle icon with your initials or photo at the top right.
  • Scroll down to your current address.
  • Enter your new street, city, state, and ZIP code.
  • Save the changes.
  • You may need to re-enter your password or receive a quick code on your phone to confirm the update. You can also call us at (248) 263-4100 or (844) 700-7328.
Visit any branch during business hours. Bring your ID and tell the team member your new address. We update it on the spot.

Why you should update your address right away:

  • Receive important statements and tax documents on time.
  • Avoid returned mail and late fees.
  • Protect yourself from mail theft and identity fraud.
  • Make sure loan offers, rate changes, and member notices reach you fast.
  • Keep everything smooth and stress-free.
Common questions
Can I update my address online? Yes. You update your address easily through online banking or the MyPDCU app.
How long does it take to update my address? You finish most changes instantly. The new address shows in our system right away.
Why does PDCU ask for verification when I change my address? We verify your identity to keep your money safe. Address changes can sometimes signal fraud, so we double-check for your protection.
Do I need to update my address if I only move temporarily? Yes. You always use your current mailing address, so we send mail to the right place.
What other information can I update at the same time? You update your phone number, email address, and preferred contact name in the same section.
What should I do after I update my address? You check your next statement to confirm that we use the new address.

Quick answer:  You enjoy no transfer or withdrawal limits on your PDCU Money Market Savings Account.

  • You move money freely whenever you need it.
  • Money Market Access at People Driven Credit Union.
  • You transfer funds online or through the app anytime.
  • You withdraw money at any branch or ATM as often as you want.
  • You write checks directly from the account.

Common questions

Are there transfer limits on my PDCU money market account? No. You make as many transfers and withdrawals as you need.
How many times can I transfer money each month? You can transfer money unlimited times. We impose no monthly cap.
Do in-person withdrawals count toward any limit? No. You withdraw money freely at branches and ATMs.
Can I write checks from my money market account? Yes. You write checks and pay bills without any restrictions.
What happens if I make many money market transfers? Nothing. You face no fees or restrictions for normal use.
Quick answer: Yes. You open a PDCU business account and access full business services at People Driven Credit Union when you qualify for membership.

Business accounts at People Driven Credit Union 

Common questions:

How do I open a business checking account? Call our Business Services team at (248) 263-4100 or visit any branch. We review your documents and guide you step by step. What do I need to open a PDCU business account? You provide your EIN or SSN, valid ID, and business paperwork. You also open a $5 membership share savings account first. Can I earn a bonus on a new business checking account? Yes. Ask about our current business promotions. Who qualifies to open a business account at PDCU? You qualify if you live, work, worship, or attend school in Michigan, or if you are a relative of a current member. What other PDCU business accounts are offered? You get treasury management, fraud protection, direct deposit, and expert support from our team.
How is PDCU involved with the Southeast Michigan Chamber of Commerce (SEMCC)? We stay very involved with the SEMCC. We actively partner on events, sponsor programs, and work with other local businesses to support and grow Michigan companies.
Quick answer: You close your PDCU account by contacting us directly. We verify your identity. We also check any remaining balances or pending transactions.

How to close your account

Call us (248) 263-4100 or visit a branch.
Confirm your current balance and pending payments. Transfer out all remaining funds. Request final closure confirmation from us.

5 reasons to keep your account open even if you move away:

  1. You continue earning higher dividends than most banks offer.
  2. You have easy access to all credit union services and loans.
  3. Use any shard branch or ATM across the country 
  4. You enjoy lower rates on future loans and credit cards.
  5. You stay part of a member-focused financial community.

Common questions

Can I close my account online? No. You must call us or visit a branch to verify your identity. How long does it take to close my PDCU account? Most members finish the process in one phone call or visit. Do I need to empty my account first? Yes. You transfer out every dollar before we close it. What happens to my direct deposits after closing? You update your payroll or benefits provider right away. Can I reopen my account later? Yes. You simply apply online, call us, or stop by any branch.
Quick answer: People Driven Credit Union’s routing number is 272484988.

When you need the routing number

You use your People Driven Credit Union routing number for: • Setting up direct deposit • Making ACH transfers and linking external accounts • Scheduling automatic payments • Processing certain wire instructions

Common questions

Is the routing number the same for all members?

Yes. People Driven Credit Union uses a single routing number for every member. You should always confirm the number for special cases, such as international wire transfers.

What is a bank wire transfer at People Driven Credit Union?

You send a bank wire to quickly and securely transfer money from your account to another financial institution. At PDCU, you choose wires for large or urgent payments such as down payments, closing costs, or sending money to family.

How do I send a wire transfer from my PDCU account?

You can call us at (248) 263-4100 or visit a branch. Give us the recipient’s full name, address, account number, and the receiving bank’s routing number (ABA). We handle the rest for you.

How much does a wire transfer cost at People Driven Credit Union?

We charge $30 for domestic outgoing wire transfers and $50 for international outgoing wire transfers. Check our current fee schedule for full details.

How long does a wire transfer take with PDCU?

Domestic wires are usually processed the same business day if requested before the daily cutoff. Funds are typically available to the recipient within hours.

What information do I need to receive a wire into my PDCU account?

Give the sender these exact instructions: • Wire to: Alloya Corporate Federal Credit Union, 26555 Evergreen, Southfield, MI 48076 • ABA: 272478075 • Credit to: People Driven Credit Union, 24333 Lahser, Southfield, MI 48033 • Account: 272484988 • Final credit: Your full name + PDCU account number + account type (Checking/Savings) Full details: Wiring Instructions

What’s the difference between Bill Pay and a wire transfer?

You use Bill Pay to pay bills to companies — it’s usually free or low-cost, and you can schedule payments anytime. You send a wire transfer when you need the money to arrive the same day. Wires cost $30–$50 and work best for urgent or large transfers that can’t wait 1–3 days.

Are wire transfers safe at People Driven Credit Union?

Yes — wires are one of the safest payment methods. They are final and cannot be reversed, so always verify the recipient’s details and watch for wire-fraud scams.
People Driven Credit Union’s routing number is 272484988.

Quick answer: You find your PDCU member number in online banking, on your account documents, or by calling us directly.

You receive a membership card when you open your account. If you can’t locate it, just stop by a branch or call us at (248) 263-4100 or (844) 700-7328. We verify your identity and mail it to you right away.

Where to find your member number

• Online banking profile and account details • New-account paperwork and monthly statements • Your physical membership card • By contacting PDCU Member Support (248)263-4100

Common questions:

Where can I find my PDCU member number? You locate your member number in online banking (under Profile or Account Details), on your monthly statements, on your membership card, or by calling us. Can I use my member number to log in to online banking. No. You log in with your username and password. Your member number is different from your login credentials. Does my membership card show my PDCU member number? Yes. We print your member number clearly on the front of your physical membership card when you open your account. What should I do if I lose or forget my PDCU member number? You can call us at (248) 263-4100 or (844) 700-7328 or visit any branch. We confirm your identity and give you the number immediately, or we mail it to you. Is my PDCU member number the same as my account number? No. Your member number identifies you as a member. Each account you open gets its own unique account number that starts with your member number.

Disclosures

People Driven Credit Union Savings Accounts 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 effective as of today and may change at any time. View our Privacy Policy and read our disclaimer regarding links to other sites.

Membership Requirement

All accounts and loans require membership at People Driven Credit Union. Membership is available to individuals who live, work, worship, or attend school in the State of Michigan, as well as relatives of current members. To complete an application for any account or loan, you will need the following information:
  • A valid Driver's License, State ID, or Passport with your current address
  • Your Social Security Number
A Membership Share Savings Account is required to establish membership at People Driven Credit Union. A $5 deposit secures your ownership share in the credit union and unlocks access to our full suite of products and services. This account earns 0.01% APY with a $5 minimum deposit.