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Who 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 does APY mean?
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...
Continue ReadingAm I notified when my CD is maturing?
You will receive a notice in the mail 30 days before the maturity date of your...
Continue ReadingCan I add funds to my CD within the term?
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...
Continue ReadingIs there a penalty if I withdraw from/close my Certificate of Deposit (CD) early?
Yes. The penalty for withdrawing from/closing the CD will be based on the interest earned on the...
Continue ReadingIs investing into a CD worth it?
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...
Continue ReadingWhat’s the minimum I need to deposit into a 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...
Continue ReadingWhat’s a CD, and how would you explain it to kids?
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...
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