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FAQ Category: Home Equity Bridge Loan

What does Loan-to-Value Ratio (LTV) mean?

Loan-to-Value Ratio (LTV) is a measure of the amount of the loan compared to the appraised value of the property. It is calculated by dividing the loan amount by the appraised value or purchase price of the property, whichever is lower, and is...

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What are the eligibility requirements?

Eligibility requirements for home equity loans include having sufficient home equity, a good credit score, a stable income, and a favorable debt-to-income ratio. Have more questions about home equity loans? Connect with a Home Equity Specialist at...

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Do you offer ‘skip a payment’?

Yes. People Driven Credit Union offers a Skip A Payment option for eligible loans during qualifying periods. If you qualify, you may be able to skip one loan payment per calendar year for a $35 processing fee. Who may qualify To be eligible, you must...

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How do I make a loan Payment?

PDCU offers options for making your loan payment: Online Banking (MyPDCU Portal & Mobile App) Step 1: Log into the MyPDCU Online Portal or the MyPDCU mobile app. Step 2: Select ‘Transfers.’ Step 3: Choose the account from which you want...

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Calculator Disclaimer Personal Loan Rate

The monthly payment at 8.490% APR for a term of 12 months would require payments of approximately $87.22/month, per $1,000 borrowed. APR=Annual Percentage Rate, subject to change. Rate is based on individual creditworthiness and term of the loan. The use of this calculator does not imply nor guarantee loan terms nor approval of financing.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. People Driven Credit Union does not guarantee their applicability or accuracy in regards to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Member-only Discount Rewards

Accidental Death & Dismemberment Insurance – PDCU provides $2,000 coverage to members 18-69 for free but op-in is required. Members receive discounts on additional supplemental coverage.

Group pricing on auto, home, life & health insurance.

Love my Credit Union – Discount pricing for, Turbo Tax & SimpliSafe Home Security.

Membership Check

Already a Member?
PD Quick Cash is available to PDCU members in good standing who’ve had direct deposit for at least six months.

Current Members Apply Here

Not a Member Yet?
Click Apply for PDCU Membership to apply for membership.

Apply for PDCU Membership

Or explore all personal loan options.

Explore Personal Loan Options

Careers

What job openings are available at PDCU?
To see current job openings at People Driven Credit Union, visit our Careers page at

https://recruiting.paylocity.com/recruiting/jobs/All/0aa7c916-c7ba-4c11-a75f-a43a80fe0bb1/People-Driven-Credit-Union.
There, you can view open positions, learn about our team culture, and apply online.

Membership Check

Already a Member?
PD Summertime Quick Cash is available to PDCU members in good standing who’ve had direct deposit for at least six months.

Current Members Apply Here

Not a Member Yet?
Click Apply for PDCU Membership to apply for membership.

Apply for PDCU Membership

Or explore all personal loan options.

Explore Personal Loan Options

Membership Check

Already a Member?
PDCU members in good standing may qualify for Back-to-School Cash if they’ve had at least $1,000 in monthly direct deposits for the past six months.

Current Members Apply Here

Not a Member Yet?
Apply for PDCU Membership:

Apply for PDCU Membership

Or explore all personal loan options:

Explore Personal Loan Options

Membership Check

Already a Member?
PDCU members in good standing may qualify with $1,000+ in monthly direct deposits for the past six months. Max two open PD Quick Cash Loans, a 30-day wait between applications, and three total loans (open or closed) in a rolling six months.

Current Members Apply Here

Not a Member Yet?
Apply for PDCU Membership:

Apply for PDCU Membership

Or explore all personal loan options:

Explore Personal Loan Options

Membership Check

Already a Member?
PDCU members in good standing may qualify with $1,000+ in monthly direct deposits for the past six months. Max two open PD Quick Cash Loans, a 30-day wait between applications, and three total loans (open or closed) in a rolling six months.

Current Members Apply Here

Not a Member Yet?
Apply for PDCU Membership:

Apply for PDCU Membership

Or explore all personal loan options:

Explore Personal Loan Options

Stop

Construction loans can be complicated, expensive, and unpredictable. They often involve staged funding, contractor coordination, inspections, budget changes, and a lot more stress than people expect. Instead, People Driven Credit Union focuses on options that are often easier to manage, like traditional mortgages for home purchases and home equity solutions for improvements to a home you already own.

People Driven Credit Union does not offer construction loans.

Connect with PDCU’s Mortgage Loan Officer if you need help being talked out of a construction loan.

PDCU Membership and eligibility requirements

People Driven Credit Union membership is available to a diverse range of individuals and organizations, including:

- All Michigan residents
- Individuals who live, work, attend school, or worship anywhere in Michigan
- Employees or retirees of U.S. federal government agencies who reside, work, or report to an agency headquartered in Michigan
- State, county, or local government employees or retirees, including those working for political subdivisions based in Wayne, Oakland, or Macomb counties

Affiliated Employers & Organizations

Membership also extends to current and former employees associated with major automotive and manufacturing employers, such as:

- Ford Motor Company and Visteon Corporation employees or retirees working in Rawsonville or Wixom, MI
- Members of the Red Carpet Club, a retirees’ association within Washtenaw, Oakland, Macomb, Monroe, or Wayne counties
- Tower Automotive employees in Plymouth, MI, and retirees from the Ford Utica Trim Plant

Additionally, membership includes those previously employed at these Michigan companies and locations:

- Ford Motor Company
- Visteon Corporation
- Automotive Components Holdings, L.L.C.
- Faurecia
- Ford New Holland (retirees)
- Ford Romeo Engine Plant
- Oakman Industrial Engine Plant
- Johnson Controls Inc.
- Hoover Automotive Systems Group (Utica)
- Auto Alliance International, Inc.
- Mazda North America, Mazda Research & Development of North America, Mazda System Services
- Mount Clemens Coating, Inc.
- Tower Automotive (Plymouth)

Previous Credit Union Mergers

Members from the following credit unions merged with PDCU are also eligible:

- Sinai Health Services Credit Union (1992)
- M.E.S. Credit Union (2004)
- People’s Trust and Community Driven Credit Unions (2014)
- Community Alliance Credit Union (2023)

Additional Eligible Groups

Membership is further open to:

- Immediate family members of eligible or current members
- Spouses of deceased members (provided they joined prior to remarriage)
- Legal entities primarily comprised of individuals from eligible groups
- Retirees aged 55 and over, or younger individuals receiving disability retirement, who receive pension, annuity, Social Security, or other retirement benefits, residing in or affiliated with retirement organizations in Wayne, Oakland, Macomb, St. Clair, Lapeer, Genesee, Livingston, or Washtenaw counties