FAQ Category: Personal
How does an ODLOC help with overdrafts?
An ODLOC can help prevent bounced checks, declined transactions, and overdraft issues by covering shortfalls in your checking account when funds are not available.
Continue ReadingWhat affects approval for a Personal Line of Credit?
Approval is subject to application and credit review. Eligibility, rates, and credit limits can depend on creditworthiness and other underwriting factors.
Continue ReadingHow does a personal loan or line of credit affect my credit score?
A personal loan can impact your credit score both positively and negatively. Making on-time payments can improve your credit score. However, missing payments or defaulting on a loan can harm your credit score. Applying for a loan also results in a hard inquiry, which may temporarily lower your score.
Continue ReadingWhat can I use a personal loan for?
Personal loans can be used for a variety of purposes, including: debt consolidation, home improvements, medical expenses, major purchases (appliances, electronics), special events (weddings, vacations), or unplanned emergency expenses.
Continue ReadingDoes applying for multiple personal loans hurt my credit score?
Yes, applying for multiple loans of any kind can negatively impact your credit score. However, consistent, on-time payment of loans will improve your credit in both the short and long term.
Continue ReadingHow can People Driven Credit Union help me improve my credit before applying?
PDCU has a variety of avenues for improving credit. These avenues include debt consolidation loans, which can help manage current debt, and credit builder loans, which can improve your credit while also establishing a savings account as a stepping stone to better loan terms in the future. PDCU has also partnered with GreenPath Financial Wellness to help our members get ...
Continue ReadingHow do I make a loan payment?
To make a payment via online banking with funds already in your account, log in to the MyPDCU Online Portal or use the MyPDCU app, and select Transfers. Select where you want to transfer from and which loan you would like to transfer to. To make a payment with a debit/credit card, call (248) 263-4100. To set up an auto-transfer from your PDCU account or attach an auto-payment to any ...
Continue ReadingDo I need to be a PDCU member to take out a loan?
All accounts and loans require membership at People Driven Credit Union. Membership is available to individuals who live, work, worship, or attend school in the state of Michigan, as well as to relatives of current members. To complete an application for any account or loan, you will need a valid driver’s license, a state ID, or a passport with your ...
Continue ReadingWhat is a Vacation Loan?
A Vacation Loan is a personal loan you can use for eligible travel-related expenses. It gives you one loan amount and fixed monthly payments, so you can budget for your trip with a clear payoff timeline.
Continue ReadingWhat can I use a Vacation Loan for?
Vacation Loans may be used for eligible vacation expenses such as flights, lodging, transportation, travel packages, and other trip-related costs. Honeymoon expenses are also a common use.
Continue ReadingAre my payments fixed?
Yes. If approved, your Vacation Loan has fixed monthly payments, which helps make your travel budget more predictable.
Continue ReadingWill applying hurt my credit?
Submitting an application may result in a credit inquiry. Approval and rate are based on creditworthiness and other underwriting factors.
Continue ReadingHow to find your PDCU Account Number or Member ID Easily
To apply for PD Quick Cash, you will need your PDCU account number or Member ID, along with your 5-digit ZIP code, to look up your account. This is a different login process from online banking or the MyPDCU app. You can find your Member ID in online banking, on your account documents, on your physical membership card, or by ...
Continue ReadingHow much can I borrow with a Life Situational Loan?
Life Situational Loans are available for amounts up to $15,000, based on creditworthiness and eligibility. Contact a Representative How long can I take to repay a Life Situational Loan? Terms are available up to 72 months, depending on the amount financed and approval. What can I use a Life Situational Loan for? These loans may be used for eligible expenses ...
Continue ReadingHow long can I take to repay a Life Situational loan?
Terms are available up to 72 months, depending on the amount financed and approval.
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