FAQ Category: Savings (Membership Share)
Can I have both a savings account and checking account?
Absolutely! Most members open a Membership Savings ($5 to join) + Basic Checking for the perfect combo.
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 ReadingWhat’s the difference between dividend/interest rate and APY?
When you’re comparing savings accounts, CDs, or other financial products, you’ll often see two numbers: an interest rate (or dividend rate, if it’s a credit union account) and an Annual Percentage Yield (APY). At first glance, they might seem like the same thing—but they’re not. Knowing the difference helps you make smarter financial choices, whether you’re opening a savings account ...
Continue ReadingHow do I deposit a check with my phone?
Gone are the days when you had to visit a branch to deposit your checks. With People Driven Credit Union’s mobile check deposit service, managing your finances becomes a breeze. This technology, known as remote deposit capture, lets you deposit checks from anywhere by simply snapping a picture with your device. How Mobile Check Deposit Works: Set the Stage: Place ...
Continue ReadingIs there a charge for monthly statements?
Most members pay nothing for monthly statements by selecting digital delivery to get eStatements at no cost. We charge $5 per month for paper statements mailed to your home. Members under 23 years old receive paper statements free. 5 Helpful Hints About Monthly Statements Switch to eStatements today to avoid the $5 monthly paper fee. Check your current preference in ...
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