Bridge Gaps with a Personal Line of Credit
Looking for a flexible, convenient way to manage life’s financial ups and downs? Your solution could be a Personal Line of Credit from People Driven Credit Union (PDCU). Unlike a traditional loan, a Personal Line of Credit gives you ongoing access to funds up to an approved limit, and you only pay interest on the amount you use. Whether you need to cover unexpected expenses, handle a home project, or have a safety net for life’s surprises, our Personal Lines of Credit are designed to help you stay in control. With specialized rates for members, personalized service, and the ability to access funds at your convenience, PDCU’s Personal Lines of Credit may offer the financial flexibility you deserve.
Membership and eligibility requirements apply, with approval subject to application.
Personal Lines of Credit
A personal line of credit is a revolving credit option that works like a credit card but typically offers higher limits and lower interest rates. You can borrow up to a pre-approved amount for any purpose—home renovations, medical bills, or travel—and you only pay interest on what you actually use. As you repay the principal, your available credit replenishes, giving you ongoing access to funds.
Unlike a traditional personal loan, there’s no fixed repayment schedule, so you can pay at your own pace. People Driven Credit Union, a full-service institution with conveniently located branches and ATMs across Metro Detroit and Southeast Michigan, makes it easy to get started with a personal line of credit that fits your needs.
PLOC Advantages
- Only pay interest on money when you need it
- If your income fluctuates, a credit line can cover bills during slow times
- Interest rates can be lower than most credit cards rates (depending on credit rating)
- Easily transfer money when needed using our mobile app
- A personal line of credit can be a great source for an emergency fund
- Having a separate loan account (instead of credit cards) may help you stick to a budget or control your spending.
Overdraft Line of Credit (ODLOC)
Tired of worrying about overdraft fees or declined transactions? An Overdraft Line of Credit (ODLOC) from People Driven Credit Union gives you a safety net by automatically covering any shortfall in your checking account.
Think of it as a revolving line of credit specifically designed to protect you from unexpected expenses or timing mishaps. You pay interest only on the amount you use, and once you pay it back, your available credit replenishes—so you’re always prepared.
Overdraft Line of Credit (ODLOC) Advantages
- Protection Against Overdrafts
Prevent bounced checks, declined transactions, and overdraft fees by having a cushion to cover shortfalls in your checking account. - Flexible Access to Funds
Unlike a traditional loan, an ODLOC is a revolving line of credit—meaning you can use it whenever you need it, up to your approved limit. - Interest Only on What You Use
You don’t pay interest on the entire credit line, just the amount you actually draw to cover an overdraft. - Convenience
Funds are automatically transferred to your checking account when your balance isn’t sufficient, saving you from the embarrassment and hassle of denied transactions. - Credit Replenishes as You Repay
Once you repay the borrowed amount, your available credit bounces back, giving you ongoing overdraft protection.
Personal Line of Credit / Overdraft Line of Credit (ODLOC) Rate
|
Type |
Minimum Payment |
APR* |
| Line of Credit/Overdraft Protection (ODLOC) | 3% of Balance, $30 Mininum | 13.25% |
|
Rates Effective as of: |
||
Frequently Asked Questions
A Personal Line of Credit is a revolving credit account that gives you access to funds up to your approved limit. You can borrow only what you need, pay interest only on the amount you use, and as you repay the balance, your available credit becomes available again.
A personal loan gives you one lump sum with fixed payments. A Personal Line of Credit gives you flexible access to funds over time, so you can borrow, repay, and borrow again up to your approved credit limit.
A Personal Line of Credit may be useful for unexpected expenses, home projects, medical bills, travel, or as a financial backup when cash flow changes.
No. You only pay interest on the amount you actually use, not on your full approved limit.
Yes. Because it is revolving credit, your available credit replenishes as you repay what you borrowed. That means you can continue using it again as long as the account remains in good standing and you stay within your approved limit.
An Overdraft Line of Credit, or ODLOC, is a revolving line of credit tied to your checking account. If your checking balance comes up short, funds can automatically transfer to help cover the difference.
An ODLOC can help prevent bounced checks, declined transactions, and overdraft issues by covering shortfalls in your checking account when funds are not available.
Approval is subject to application and credit review. Eligibility, rates, and credit limits can depend on creditworthiness and other underwriting factors.
We recently had a death in the family, The Team at PDCU was kind, caring and emphatic.
Ernie Member since 2018
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
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