FAQ Category: Accounts
Is this the final account application?
No. This form is a way to get started and connect with our team. We will follow up to help complete the account opening...
Continue ReadingHow long does it take?
Most requests can be handled quickly once we connect with...
Continue ReadingCan I open accounts for more than one child?
Yes. Use the form to tell us about your interest, and we can help you with next steps for one child or multiple...
Continue ReadingCan I start the process online?
Yes. Fill out the form on this page, and we will contact you to help complete the...
Continue ReadingHow do I open a checking account at PDCU?
Set up your Checking Account with People Driven Credit Union nnline in just minutes or visit any of our branches in Livonia, Southfield, Warren, Ypsilanti, or Romeo. Pro Tip from PDCU: Link your Checking Account to your Savings Account for automatic...
Continue ReadingIs it safe?
Yes – NCUA insured up to $250,000, just like FDIC but with the member-owned advantage of a credit...
Continue ReadingCan I have both a savings account and checking account?
Absolutely! Most members open a Membership Savings ($5 to join) + Basic Checking for the perfect...
Continue ReadingWhich earns more – savings account or checking account?
Savings and especially our High-Yield Money Market accounts earn more. Regular checking pays little, while our top-tier money market is paying much...
Continue ReadingWho can open the youth account for a child?
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...
Continue ReadingWhat’s a youth account?
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...
Continue ReadingWhat is the age range for youth accounts?
Our youth accounts are for ages...
Continue ReadingWhat is a 16-month CD?
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...
Continue ReadingHow does a 16 month cd work?
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...
Continue ReadingIs my money safe in a 16-month CD?
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...
Continue ReadingCan I withdraw my money before the 16-month term ends?
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...
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