FAQ Category: Personal
What are the repayment terms?
You can choose from 9-, 12-, or 18-month repayment terms. Payments begin 30 days after loan funding and are set up as automatic transfers for...
Continue ReadingIs there a fee to apply?
Yes. A one-time $35 processing fee applies, regardless of loan...
Continue ReadingCan I apply for more than one Back-to-School Cash Loan?
Yes. Members may have up to two active Back-to-School Loans at a time. A 30-day waiting period is required between...
Continue ReadingHow quickly will I get my funds?
Many eligible members see same-day approvals and funding during regular business hours. However, processing times can vary depending on account verification and application...
Continue ReadingWhat if I don’t meet the direct deposit requirements?
If you don’t qualify for the Back-to-School Cash Loan, People Driven Credit Union offers other personal loan options, including Unsecured Personal Loans, Share Secured Loans, and CD Secured...
Continue ReadingWhat is a Share Secured Credit Card?
A Share Secured Credit Card is backed by funds you have on deposit at People Driven Credit Union. Your deposit acts as collateral, and your credit limit is typically equal to the amount you pledge. This card works like a regular credit card and can help...
Continue ReadingHow does the security deposit work?
When you open a Share Secured Credit Card, you agree to place a certain amount of money in a PDCU savings account as collateral. This deposit is held while the account is open and in good standing. If the account is closed and all balances are paid, the...
Continue ReadingWill my payments be reported to the credit bureaus?
Yes. Your payment history is reported to major credit bureaus. Making on-time payments and keeping your balance low compared to your limit can help improve your credit profile over...
Continue ReadingCan I earn rewards with a Share Secured Credit Card?
Share Secured Credit Cards are designed for credit building and may not include rewards programs. For details on available rewards options, see our Visa Rewards Driven Credit...
Continue ReadingHow can I qualify for an unsecured credit card?
Responsible use of a Share Secured Credit Card—such as making on-time payments and maintaining a low balance—may help you qualify for other PDCU credit card options. Approval is not guaranteed and is subject to credit...
Continue ReadingCan I use my card anywhere?
Yes. Your Share Secured Credit Card can be used anywhere Visa is accepted, including online and in person, subject to your available credit...
Continue ReadingAre there fees or interest charges?
Interest and fees may apply. Please review our Credit Card Disclosures for complete...
Continue ReadingWhat is AutoPay?
AutoPay is a convenient service that automatically withdraws your loan payment each month from your People Driven Credit Union checking or savings account. It helps you stay on track, avoid late fees, and may even qualify you for our ¹Special Loan Rate...
Continue ReadingWhat’s the ¹Special Loan Rate Discount?
Our ¹Special Loan Rate Discount offers a 0.25% APR reduction when you set up automatic payments (AutoPay) for your loan from a People Driven Credit Union checking or savings account. This discount is already included in the “as low as” rate...
Continue ReadingWhat are the benefits of a contactless card?
Contactless cards offer several benefits over traditional cards that require a physical swipe or insertion into a card reader. Some of these benefits include: Speed: Contactless cards can be scanned quickly and easily, resulting in faster and more...
Continue Reading
