What a Life Situational Loan Can Help Cover
- Wedding expenses (venue, catering, attire, travel, and other related costs)
- Funeral and memorial expenses
- Other eligible costs tied to major life events
What You Can Expect With People Driven Credit Union’s Life Situational Loan
- One loan amount and a clear repayment timeline
- Fixed monthly payments
- Local service and support when you have questions
- A straightforward option instead of putting major expenses on a credit card
Secure a Loan Rate Discount¹
Unsecured Personal Loan Rates as Low As 11.04%¹ APR*
¹Take advantage of a 0.25% discount when you enroll in autopay, already factored into the “as low as” rate. This discount applies to those who set up automatic payments from a People Driven Credit Union checking or savings account.
Support for the Moments That Matter
Wedding costs including venue deposits, catering, attire, photography, travel, and other related expenses. The average Michigan wedding runs between $20,000 and $30,000 according to industry surveys, and most couples piece together payment from multiple sources. A personal loan covers what savings and family contributions do not.
Funeral and memorial expenses including burial costs, cremation, services, obituaries, flowers, and reception costs. The national median cost of a funeral with burial is over $8,000 according to the National Funeral Directors Association. Most families have days, not weeks, to arrange payment. A Life Situational Loan can move quickly once you apply.
Other major life event expenses that do not fit neatly into another loan category. If you are unsure whether your situation qualifies, call us at 248-263-4100 and a loan representative can walk you through it.
PDCU considers more than just your credit score when you apply. Your income and overall financial picture are part of the review. If approved, funds are deposited directly into your PDCU checking or savings account.
Membership is required to apply. Anyone who lives, works, worships, or attends school in Michigan is eligible to join, along with relatives of current members. Membership starts with a $5 deposit.
See What Fits: Compare Personal Loan Rates & Terms
-
Term
(Months)
≤36
37-60
61-72
73-84
APR*
as low as¹
11.04% 13.10% 14.30% 15.30% Rates Effective as of:
11.04% -
Secured Loan
Max Term
(Months)
APR*
as low as
Share Covered 84 5.25% Credit Builder Loan (Max $2,000) 18 13.00% CD Secured Loan (No Money Market, IRA, or Club Accounts) 84 APY + 3.50% Rates Effective as of:
5.25%
Calculate Your Monthly Personal Relocation Loan Payment
Monthly Payment
Can you get a personal life-situational loan with bad credit?
Absolutely. At People Driven Credit Union, we look beyond your credit score to find a solution that fits your unique needs, considering both your income and credit history.
If approved, you’ll receive funds deposited directly into your checking or savings account. Keep in mind that interest rates are determined by your credit rating.
Frequently Asked Questions
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.
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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.
-
Can I get a Life Situational Loan with bad credit? Yes. People Driven Credit Union considers more than just your credit score, including your income and credit history. If approved, funds are deposited into your checking or savings account. Interest rates are based on your credit rating.
-
What is AutoPay? AutoPay automatically withdraws your loan payment each month from your People Driven checking or savings account. It helps you stay on track and may qualify you for the special loan rate discount. Enrollment is handled by phone at 248-263-4100.
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What is the Special Loan Rate Discount? The special loan rate discount is a 0.25% APR reduction when you set up AutoPay from your People Driven checking or savings account. The discount is already included in the advertised “as low as” rate. Enrollment is handled by phone at 248-263-4100.
Terms are available up to 72 months, depending on the amount financed and approval.
These loans may be used for eligible expenses tied to major life events, including wedding-related costs and funeral or memorial expenses.
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.
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.
To check the status of your loan application, contact People Driven Credit Union at 248-263-4100 during business hours or reach out to your assigned loan specialist if you have their contact information. Be ready to verify your identity and share details such as your name, member number, or application number so we can review your application with you.
When you check your status, it is also a good idea to ask whether any additional documents or information are needed to keep your application moving. Review times can vary based on the loan type and the information required, so contacting us directly is the best way to get the most current update on your application.
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.
Disclosures
*APR = Annual Percentage Rate: The actual APR and loan term is subject to approval and may be determined upon the borrower’s creditworthiness, the amount borrowed, and the type, value, age, and condition of the collateral offered to secure the loan (when applicable). Rates are effective as of today and are subject to change.
¹Special Loan Rate Discount: Benefit from a .25% reduction when enrolling in our autopay service, which is included in the “as low as” rate advertised. The discount is available to those who setup autopay of their monthly loan payment from a People Driven Credit Union checking or savings account.
People Driven Credit Union is an Equal Housing Opportunity Lender NMLS #776727
All other trademarks are the property of their respective owners.
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