FAQ Category: Accounts
Can a Youth CD make a good gift?
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...
Continue ReadingWhy choose a Youth CD over a savings account?
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...
Continue ReadingWho can open a Youth CD?
Youth CDs are available for members under 18. A parent, guardian, or custodian must be listed jointly on the...
Continue ReadingCan we keep adding money?
Yes! You can make additional deposits anytime until the CD...
Continue ReadingHow long is the term?
The Youth CD is a one-year certificate. At the end of the year, you can renew it or withdraw the...
Continue ReadingHow much do I need to open a Youth CD?
Just $25 is all it takes to get started. You can make additional deposits anytime until the CD...
Continue ReadingWhat is Overdraft Protection Transfer?
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,...
Continue ReadingWhat is Courtesy Pay?
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...
Continue ReadingWhat overdraft options are available for checking accounts?
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...
Continue ReadingWhat is a Money Market Savings Account?
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...
Continue ReadingHow is a Money Market Account different from a regular savings account?
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...
Continue ReadingWhat is the minimum balance required to open a Money Market Savings Account?
At People Driven Credit Union, the Money Market Savings Account requires a minimum deposit of $1,000 to...
Continue ReadingHow often is interest compounded and paid?
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...
Continue ReadingIs there a limit on withdrawals or transfers?
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Continue ReadingCan I write checks from my Money Market Account?
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