FAQ Category: Other
Can I withdraw my money before the 9-month term ends?
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...
Continue ReadingIs my money safe in a 9-month CD?
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...
Continue ReadingWhat’s the difference between dividend/interest rate and APY?
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...
Continue ReadingHow does a 9 month cd work?
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...
Continue ReadingWhat is a 9-month CD?
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...
Continue ReadingHow do I deposit a check with my phone?
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...
Continue ReadingWhat is an Educational IRA Certificate?
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...
Continue ReadingWhat is a Money Market IRA Certificate?
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...
Continue ReadingWhat is a Traditional IRA Certificate?
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...
Continue ReadingWhat is a Roth IRA Certificate?
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...
Continue ReadingWhat is a Certificate of Deposit?
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...
Continue ReadingWhat is a CD Ladder?
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...
Continue ReadingCan MyPDCU Credit Score & Report help improve my credit score?
Your browser does not support the video tag. Create your credit score goal by selecting your desired credit score and the timeframe in which you want to achieve that your goal. Receive personalized recommendations and track your...
Continue ReadingWhat is the difference between a Will and a Trust?
Wills and Trusts have a lot of overlap, but also a lot of differences. Wills are simpler documents that let you name guardians for kids and pets, designate where assets go, and specify final arrangements. The simplicity of a Will does come with some...
Continue ReadingIs an online estate plan right for everyone?
Yes! Online Estate Planning offers the same level of validity and function as its traditional counterpart, with added advantages (such as affordability and accessibility). By leveraging advanced technology alongside exceptional customer support, their...
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