Home Improvement Loans

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 advertised.

To enroll in AutoPay and receive the discount, please call us at 248-263-4100. A representative will assist you in setting up monthly automatic withdrawals from your PDCU account.

Note: The discount is available only for eligible loans with AutoPay set up from a PDCU account. Terms and conditions may apply.

You can use a Home Improvement Loan for a wide range of projects, such as:

• Renovating a kitchen or bathroom
• Installing new windows or doors
• Adding a new room or extension
• Upgrading heating, ventilation, or air conditioning systems
• Repairing roofs or plumbing
• Improving energy efficiency with solar panels or insulation

To qualify, People Driven Credit Union will typically evaluate factors such as:

• Your credit score and credit history.
• Your income and employment status.
• Your debt-to-income ratio: Good credit and stable income improve your chances of approval and provide better loan terms.

It may be possible to get a home improvement loan with less-than-perfect credit, but approval, rates, and terms will depend on factors such as your credit history, income, available equity, and the type of loan you apply for. In many cases, borrowers with lower credit scores may qualify more easily for a secured loan than for an unsecured loan.

If you have equity in your home, a Home Equity Loan or Home Equity Line of Credit may be worth exploring for home improvement costs. Because these options are secured by your home, they may offer different qualification standards than unsecured financing. Before moving forward, make sure you understand the risks of using your home as collateral.

If you are not ready to apply yet, taking time to improve your credit may help strengthen your application. Paying bills on time, reducing existing debt, and reviewing your credit report for errors can all help you prepare. If you want to talk through your options, contact People Driven Credit Union to discuss the loan solutions that may fit your situation.

• Home Improvement Loan: Typically, an unsecured personal loan, where you borrow a set amount to fund a home project, with fixed monthly payments and no collateral required.
• Home Equity Loan: A secured loan that uses the equity in your home as collateral, often offering larger loan amounts and lower interest rates than an unsecured loan.

A personal loan can impact your credit score in several ways:

• Positive Impact: Making on-time payments can improve your credit score.
• Negative Impact: Missing payments or defaulting on the loan can harm your credit score. Additionally, applying for a loan results in a hard inquiry, which may temporarily lower your score.

• Secured Personal Loan: Requires collateral (e.g., a Certificate of Deposit (CD) or savings account). Offers lower interest rates due to reduced risk for the lender.
• Unsecured Personal Loan: Does not require collateral. The interest rate is based on your creditworthiness and may be higher than secured loans.

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 to transfer funds and the loan you wish to pay.

Debit/Credit Card Payments

Call (248) 263-4100 to make a payment using a debit or credit card.

Auto-Transfer Setup

Set up an automatic transfer from your People Driven account to make regular loan payments. You can also attach this auto-payment to your direct deposit. Call us at (248) 263-4100 or visit any of our five branches for assistance.

Payments from Other Financial Institutions

Set up an auto-payment from another financial institution. We’ll provide you with the necessary form to get started. Call us at (248) 263-4100 or stop by any branch.

Mail a Check

You can mail a check payable to People Driven Credit Union to:

24333 Lahser Rd
Southfield, MI 48033

Pay in Person

Make your loan payment in-person at any People Driven Credit Union branch location.

Need Help? We're Here.

Missing a payment or making a late payment can result in fees and damage to your credit score. If you're having trouble making a loan payment, don't hesitate to contact us. People Driven Credit Union is committed to assisting our members, and there are several ways we can help. 

Skip-a-Payment

Eligible members can skip one loan payment on eligible loans per calendar year for a fee. Eligible loans include all except Fresh Start Auto Loans, PD Quick Cash Loans, Lines of Credit, Mortgages, Commercial Loans, and Credit Cards, which are excluded from the Skip-a-Payment program. Learn more about the Skip-a-Payment program.

GreenPath Financial Wellness

We have partnered with GreenPath Financial Wellness to help our members get back on track with their finances and credit. Call GreenPath at 877-337-3399 and let them know you're a PDCU member who would like to make an appointment with a representative.