FAQ Category: Personal
What can I use a Life Situational Loan for?
These loans may be used for eligible expenses tied to major life events, including wedding-related costs and funeral or memorial expenses.
Continue ReadingHow can I see how much I’ve spent on my card and how much I owe?
You can quickly check your balance in the MyPDCU Mobile App. Just log in, select your Visa® Credit Card account, and you’ll see your current balance along with any past-due amount. Together, this shows your total amount owed.
Continue ReadingWho is eligible for the Back-to-School Cash Loan?
Members in good standing who have received at least $1,000 in direct deposits each month for the last six consecutive months may qualify. The loan amount you’re eligible for will depend on your account and deposit history, up to a maximum of $2,000 (minimum $500).
Continue ReadingDo I need a credit check to apply?
No credit check is required for this loan option. Approval is based on your membership status and deposit history.
Continue ReadingHow much can I borrow?
Loan amounts range from $500 to $2,000. The exact amount you qualify for is determined when you apply.
Continue ReadingWhat 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 convenience.
Continue ReadingIs there a fee to apply?
Yes. A one-time $35 processing fee applies, regardless of loan amount.
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 applications.
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 volume.
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 Loans.
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 you establish or rebuild credit.
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 deposit is released back to you.
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 time.
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 Card.
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 review.
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