Personal line of credit 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.
How a PLC differs from other forms of loans
A personal line of credit differs from a traditional personal loan in that you don’t have set payments over a specific repayment period.
The downside of a Personal Line of Credit
- Can be dangerous for people that tend to overspend.
- They may be hard to qualify for if you don’t apply when your finances are in great shape.
Rates can be lower Than Credit Cards
Interest rates may be comparable with or lower than those you can get for credit cards.
We recently had a death in the family, The Team at PDCU was kind, caring and emphatic.Ernie Member since 2018
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Member Reward Offers
We believe our members deserve to be rewarded that is why PDCU rewards you for all types of activity.
Line of Credit/Overdraft ProtectionRates Effective as of: 01-25-2020
Minimum Payment Term Rate (APR) 3% of Balance, $30 Mininum 12.50%
APR=Annual Percentage Rate
Frequently Asked QuestionsA credit line allows you to borrow in increments, repay it and borrow again as long as the line remains open. Typically, you will be required to pay interest on borrowed balance while the line is open for borrowing, which makes it different from a conventional loan, which is repaid in fixed installments. A line of credit will have a set limit in which you will be approved for and you can borrow based off the limit.Please log into online banking and click ‘Services’ and choose ‘Loan application’. There you can apply for a loan and check the status of your app within a 30 day window. You may also give us a call at 248-263-4100 to speak with the loan department!PDCU has partnered with GreenPath Financial Wellness to help our members get back on track with their finances and credit. Please give GreenPath a call at 877-337-3399 and let them know you’re a PDCU member and would like to make an appointment with a rep!
Yes! All eligible loans can be skipped once per the calendar year for a fee of $25.
Fresh Start Auto Loans, Lines of credit, mortgages Commercial Loans and credit cards are excluded.Skip a Payment
- To make a payment via online banking with funds already in your account, please log in and select ‘transfers’. From there please select where you want to transfer from and which loan you would to transfer to.
- Log into iTalk (telephone teller) and make your payment. Option 3 for payments.
- To make a payment with a debit/credit card please 844-700-7328.
- Set up an auto transfer from your People Driven account or attach an auto payment to your direct deposit that comes into your account. Give us a call at 844-700-7328 or stop by any of our 5 branches.
- Have us set up an auto payment from your other financial institution. Please give us a call at 844-700-7328 and we can send you proper form or you may stop by any of our 5 branches.
- You may also mail in a check payment:
- 24333 Lahser Rd, Southfield, MI 48033
- Or to PO BOX 984, Southfield, MI 48037
Ready to get your Personal line of credit?
Start the digital application belowDigital Application
* Use of a calculator tool is not a guarantee of credit.
Loan rates change daily, therefore inquire with PDCU for current loan rates. Enjoy the added convenience of making your payments with Direct Deposit.
People Driven Credit Union is one of the largest credit unions in Metro Detroit and an equal housing lender.