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Save to Win Share Certificate

Making saving fun!

Do you like to win money?
  • Overview

    The more you save, the better your chance to Win!

    This unique share certificate is now available to PDCU members.  It rewards you for saving money.  For every $25 you add to your certificate, you are entered for monthly and quarterly drawings of cash rewards.

    Apply for your Save to Win today!

    How Save to Win Works:

    Participating Members will receive one (1) entry for every $25 increase in the monthly balance of the Qualifying Certificate Account at month’s end, with a maximum of one hundred (100) entries per Participating Member per month. Contributions can be made by depositing funds to the account or rounding up debit card purchases. Winners are chosen monthly, quarterly, and annually!

    Click here to start now!

    Up to 537 chances to win every quarter!

    See a complete list of rules associated with the CD and find out more to get started.

    I never thought I'd win!

    G. West - PDCU $5,000 winner, 2017

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  • FAQs

    Frequently Asked Questions

    The difference between the Dividend Rate and APY (Annual Percentage Yield) lies primarily in considering compounding. Here’s a breakdown:

    Interest Rate

    • Definition: The interest rate is the nominal rate at which interest is paid on the principal amount.
    • Compounding: It does not account for how often interest is compounded. It is simply the rate without considering the effects of compounding within the period.
    • Usage: Often quoted as an annual rate, but it can be applied over different compounding periods (monthly, quarterly, etc.).

    Dividend Rate

    • Definition: Similar to the interest rate, but typically used by credit unions or certain investment accounts to describe the rate paid on deposits or investments.
    • Compounding: Like the interest rate, it does not account for the compounding frequency.

    APY (Annual Percentage Yield)

    • Definition: APY reflects the total amount of interest earned on an account in a year, accounting for the effect of compounding interest.
    • Compounding: It includes the effects of compounding interest. Which means it shows the real return on investment or savings over a year.
    • Formula: The formula for APY is: 
      APY = (1 + r/n)^n - 1
      Where r is the nominal interest rate, and n is the number of compounding periods per year.

    Dividend Rate vs APY Example

    Interest Rate/Dividend Rate: If a savings account offers a 5% interest rate compounded monthly, the nominal rate is 5%. APY: When considering the monthly compounding, the same account will have an APY slightly higher than 5% because the interest earned each month also earns interest in subsequent months.

    Key Differences

    • Compounding Effect: APY incorporates the effect of compounding, whereas the nominal interest/dividend rate does not.
    • True Earnings: APY provides a clearer picture of the actual annual earnings from an account or investment.
    • Comparison: APY is a better metric for comparing different financial products as it standardizes the impact of compounding across different offers.
    In summary, while the interest rate or dividend rate gives you an idea of the annual rate of return without compounding, the APY gives you the actual yearly return, considering the compounding of interest.
    Download the official People Driven Credit Union account and prize entry rules

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Disclosures

People Driven Credit Union savings are Federally insured to at least $250,000 by the NCUA and backed by the full faith and credit of the United States Government. APR = Annual Percentage Rate. Rates effective as of today and may change at any time. Penalties apply for early withdrawal. View our Privacy Policy and read our disclaimer regarding links to other sites.