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Pennsylvania State Employees Credit Union

Based on 1 review
Overview / Commentary
717-234-8484
P.O. Box 67013
Harrisburg, PA 17106

Pennsylvania State Employees Credit Union is headquartered in Harrisburg and is the 2nd largest credit union in the state of Pennsylvania. It is also the 25th largest credit union in the nation. It was established in 1933 and as of December of 2013, it had grown to 556 employees and 413,345 members. Pennsylvania State Employees Credit Union has a A health rating.

Field of Membership Restrictions

Must be a student, alumni, faculty or staff of HACC or any school in the State System of Higher Education. - See Details

Reviews (1)

Worth Keeping Our Accounts, Even Living Far Away

PSECU is a wonderful financial institution.  Their customer service has done an excellent job handling occasional issues over the past 10 years we've been with them.  For example, when an internet service provider (ISP) charged our credit card for a service we never received, I spent several hours on the phone with the ISP and they would not refund the money.  One call to PSECU and 20 minutes later, PSECU credited the disputed amount back to me and said they would take care of working things out with the ISP.  I never heard anything more and didn't care about it, because PSECU had already made things right with us immediately.  

We now live in California--the nearest branch is in PA--and we've stayed with them for our primary checking and savings accounts because their online banking is phenomenal!  Could not give a higher recommendation!



Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Pennsylvania State Employees Credit Union had $20.05 million in non-current loans and owned real-estate with $468.96 million in equity and loan loss allowances on hand to cover it. This gives Pennsylvania State Employees Credit Union a Texas Ratio of 4.28% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Pennsylvania State Employees Credit Union decreased slightly from 5.03% as of December 31, 2012 to 4.28% as of December 31, 2013, resulting in a positive change of 15.01%.This indicates that the balance sheet and financial strength for Pennsylvania State Employees Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Pennsylvania State Employees Credit Union has increased its total deposits by $74.18 million, resulting in 2.07% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Pennsylvania State Employees Credit Union has shown is above average.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Pennsylvania State Employees Credit Union has $4.12 billion in assets with $468.96 million in equity, resulting in a capitalization level of 11.39%, which is excellent.

Institution Statistics

Overall
NCUA #64131
Year Chartered1933
Employees556
Primary Regulator
Assets and Liabilities
Assets$4.12 billion
Loans$2.90 billion
Deposits$3.66 billion
Equity Capital$420.87 million
Loan Loss Allowance$48.09 million
Unbacked Noncurrent Loans$19.56 million
Real Estate Owned$492,000
Historic Data - December 2012
Assets$4.00 billion
Equity Capital$366.98 million
Loan Loss Allowance$39.21 million
Unbacked Noncurrent Loans$19.56 million
Real Estate Owned$448,000
Profit Margin - Quarterly
Net Interest Margin4.36%
Return on Assets0.42%
Return on Equity4.15%
Interest Income$151.63 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Pennsylvania State Employees Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Pennsylvania State Employees Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%--Regular Savings
0.15%--Vacation Savings Share
0.15%--Christmas Savings Share
0.15%--IRA Savings

Pennsylvania State Employees Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$500-Money Market

Pennsylvania State Employees Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Checking Account

Pennsylvania State Employees Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.50%$500-60 Month CD
1.25%$500-48 Month CD
1.10%$500-36 Month CD
0.75%$500-24 Month CD
0.50%$500-18 Month CD
0.45%$500-12 Month CD
0.35%$500-9 Month CD
0.30%$500-6 Month CD
0.25%$500-3 Month CD

Pennsylvania State Employees Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.50%$500-60 Month IRA (Traditional,Roth,CESA)
1.25%$500-48 Month IRA (Traditional,Roth,CESA)
1.10%$500-36 Month IRA (Traditional,Roth,CESA)
0.75%$500-24 Month IRA (Traditional,Roth,CESA)
0.50%$500-18 Month IRA (Traditional,Roth,CESA)
0.45%$500-12 Month IRA (Traditional,Roth,CESA)
0.35%$500-9 Month IRA (Traditional,Roth,CESA)
0.30%$500-6 Month IRA (Traditional,Roth,CESA)
0.25%$500-3 Month IRA (Traditional,Roth,CESA)
Locations

Pennsylvania State Employees Credit Union has 15 locations. Click to view all Pennsylvania State Employees Credit Union locations.