The holidays are supposed to come with joy, not a financial hangover. But once the wrapping paper settles, it’s common to look at your credit card statements and think, “…Yikes.”
If you used credit cards, store financing, or buy now, pay later options to get through the season, you’re not alone—and you’re not stuck. People Driven Credit Union (PDCU) offers several ways to help you regroup, simplify payments, and move into the new year with a clearer plan.
From a short-term Holiday Cash Loan to longer-term Debt Consolidation Loans and lower-rate Share Secured and CD Secured Personal Loans, you have options to manage post-holiday balances more strategically.
Why Post-Holiday Debt Feels So Overwhelming
Holiday spending has a way of sneaking up on you. A few extra gifts here, a special dinner there, travel, outfits, parties—individually they seem manageable. Together, they can turn into:
- Multiple credit cards with different due dates and interest rates
- Buy now, pay later plans mixed in with regular bills
- Higher minimum payments that stretch your monthly budget
The goal is not to beat yourself up, it’s to organize what you owe, look for ways to lower your costs where possible, and get on a path that feels manageable instead of stressful.
Step 1: Take Inventory of What You Owe
Before you choose a solution, start with a simple list:
- Each card or loan balance
- Interest rate (APR) on each balance
- Monthly payment amount
- Due dates
This gives you a clear picture of your “starting point” and helps you decide which PDCU option may fit best—whether that’s a short-term fix, a longer-term consolidation, or using savings/CDs as collateral for a lower rate.
Option 1: Use a Holiday Cash Loan for Smaller Balances
If your post-holiday balances are relatively small but still stressful, a short-term personal loan may be a good fit.
Holiday Cash Loan – Available Through December 31
For a limited time, current PDCU members in good standing can apply for our Holiday Cash Loan, designed to help you smooth out seasonal expenses and pay them off over the year instead of letting them linger on a high-rate credit card.
- Loan amounts: Up to $2,000
- Rate: 9.99% APR* for twelve months
- Eligibility: Current members in good standing with a minimum direct deposit of $1,000 monthly for at least six (6) consecutive months
- Loan amount determination: Based on the total average of the member’s aggregate monthly deposits
- Limited-time offer: Available through December 31
Instead of juggling holiday purchases across multiple cards, you can consolidate those expenses into a single fixed payment with a clear end date. That can make it easier to build a realistic budget for the new year.
Option 2: Consolidate Larger Balances with a Debt Consolidation Loan
If your post-holiday balances are part of a bigger debt picture, a dedicated Debt Consolidation Loan may help organize what you owe into a single monthly payment.
Debt Consolidation Loan
Our Debt Consolidation Loan is designed to help you consolidate higher-rate debts into a single loan with a structured payoff plan.
- Loan amounts: Up to $30,000
- Rates: As low as 11.44%¹ APR*
- Terms: Flexible repayment terms available
Instead of managing multiple payments, you make just one loan payment each month. Depending on the amount, rate, and term you qualify for, this may help you:
- Simplify your monthly budget with one due date
- Replace variable card payments with a predictable installment payment
- Create a clear timeline for when your consolidated debt will be paid off
Important reminder: Consolidating debt may reduce your monthly payment but can result in paying more total interest over the life of the loan, depending on your rate and term. It’s important to review your specific situation with a PDCU loan specialist.
Option 3: Use Your Savings or CD as Collateral for a Lower Rate
If you have money in savings or a certificate (CD), you may be able to use those funds as collateral to access a lower-rate loan—without permanently giving up your savings.
Share Secured Personal Loan
With a Share Secured Personal Loan, your loan is secured by the balance in your PDCU savings (share) account.
- Rate: As low as 5.25% APR*
- Collateral: Your PDCU share (savings) account secures the loan
- Benefits: Lower rate than many unsecured debts and a way to keep building your credit history with on-time payments
Your funds remain on deposit and continue to belong to you, but they are pledged as collateral for the loan. As you pay down the loan, holds on your savings may be released in accordance with the loan terms.
CD Secured Personal Loan
If you received a CD as a gift or opened one to grow your savings, you may also have the option to borrow against it with a CD Secured Personal Loan.
- Rate: As low as your CD’s APY + 3.50%¹ APR*
- Collateral: Your PDCU certificate secures the loan
- Benefits: Potentially lower rate than many credit cards while your CD continues to earn dividends
This can be especially helpful if you:
- Received cash or a CD as a gift and don’t want to cash it out
- Have savings but want to preserve your progress while you tackle higher-rate debt
Note: Using savings or CDs as collateral means those funds may be restricted while the loan is outstanding. If you default, those funds can be applied to your loan balance. A PDCU representative can explain how this works in detail.
Which Option Is Right for You?
Every situation is different, but here’s a quick way to think about your choices:
- Holiday Cash Loan: Best if your holiday balances are relatively small (up to $2,000) and you want a short-term, 12-month plan to pay them off.
- Debt Consolidation Loan: Best if you have multiple debts (credit cards, store cards, personal loans) up to $30,000 and want one structured payment with flexible terms.
- Share Secured or CD Secured Loan: Best if you have savings or a CD at PDCU and want a lower-rate option using those funds as collateral—especially helpful if you’re rebuilding or strengthening your credit profile.
You don’t have to figure this out alone. A PDCU team member can help you review your balances, talk through your options, and identify a path that fits your budget and goals.
Avoid Next Year’s Debt Hangover, Too
While you’re addressing this year’s balances, it’s a great time to set yourself up for a smoother holiday season next year:
- Build a small “holiday fund” with automatic transfers throughout the year
- Use separate savings accounts for gifts, travel, and other seasonal expenses
- Review your budget regularly so spending doesn’t quietly creep up
Small, consistent steps can make a big difference over 12 months—and PDCU is here to help you throughout the year, not just when the statements arrive.
Ready to Tackle Your Post-Holiday Debt?
If you’re ready to turn your post-holiday debt hangover into a payoff plan, we’re ready to help.
Talk with People Driven Credit Union about:
- Our limited-time Holiday Cash Loan (through December 31)
- Debt Consolidation Loans for larger balances and multiple debts
- Share Secured and CD Secured Personal Loans that use your savings or CDs as collateral for lower rates
Contact People Driven Credit Union today to discuss which option is right for you.
*APR = Annual Percentage Rate. Holiday Cash Loan offer available through December 31. Loan amounts, rates, and terms are based on individual creditworthiness, income, and other factors. All loans subject to approval.
¹ “As low as” rate assumes excellent credit and other qualifying factors. Your actual rate and term may differ and will be disclosed at the time of approval. Debt consolidation may extend the repayment period and increase the total interest paid, even if the monthly payment is lowered.
Share Secured and CD Secured loan rates are based on the applicable share or certificate rate plus a margin. Using shares or CDs as collateral will place a hold on those funds and may limit access until the loan is repaid as agreed.
Membership eligibility required. A minimum share deposit may be required. This information is for educational purposes only and is not tax, legal, or investment advice. Please consult your professional advisor regarding your specific situation.
