FAQ Category: Other
What are the benefits of using an ITM?
Convenience, faster service on complex items, enhanced security, and personalized guidance from a live specialist when needed.
Continue ReadingIs an ATM or debit card required?
For self-service, yes—a card is required. If you connect with a live teller, you can present a valid photo ID, and the teller can access your account without your card.
Continue ReadingHow do ITMs work in the drive-thru?
Drive up as usual. For live help, press the on-screen button to connect to a teller in eServices. They’ll appear on screen to guide you. For simple tasks, stay in self-service mode.
Continue ReadingAre tellers being replaced?
No. ITMs enhance our service. They free our team to focus on more complex needs and relationship-building with members.
Continue ReadingAre ITMs available 24/7?
Self-service features are available around the clock (machine availability may vary). Live video tellers are available during the hours listed below. Live ITM tellers are available during these hours: Monday: 9:00 am – 5:00 pm Tuesday: 9:00 am – 5:00 pm Wednesday: 10:00 am – 5:00 pm Thursday: 9:00 am – 5:00 pm Friday: 9:00 am – 6:00 pm Saturday: ...
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 Rate: Typically offers a fixed interest rate generally higher than regular savings accounts. Minimum Deposit: Often requires a ...
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 term of nine months. During this period, you cannot add to or withdraw from ...
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 depositor.
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 savings products, such as savings accounts, CDs, and money market accounts, because it standardizes the ...
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 CD.
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 CD.
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 the CD.
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 pages!
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 called interest. The longer you let us keep it safe, ...
Continue ReadingIs there a penalty if we need the money early?
Early withdrawal penalties may apply and could reduce earnings. Ask us for current terms before withdrawing.
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