Pennsylvania State Employees Credit Union
Pennsylvania State Employees Credit Union is headquartered in Harrisburg and is the largest credit union in the state of Pennsylvania. It is also the 32nd largest credit union in the nation. It was established in 1933 and as of June of 2019, it had grown to 786 employees and 459,045 members at 2 locations. Pennsylvania State Employees Credit Union's CD rates are 2X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Pennsylvania State Employees Credit Union is open to all Pennsylvania residents through membership in the Pennsylvania Recreation & Parks Society ($20 membership fee). Membership is also open to Pennsylvania state or local government employees, municipality or school district employees, students, faculty, staff and alumni of universities in the Pennsylvania State System, and over 1,000 Select Employer Groups.
See current membership details
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Great Bank So Far
-Very fast membership application process.
-Free checking and saving account with free checks and atm fee reimbursement.
-Flawless customer services
-Competitive rate for CD currently
There are downsides that don't bother me:
-Will do soft pulls on Chexsystem and Experian for first time membership applicants.
-Websites and mobile app layouts are quite complicated and requires time to get used to.
-Security limits on many things: mobile check deposit limit of $1000/day. I got locked out from the online account because I accessed it too many times.
Great bank overall !
My Experience with PSECU
In the summer of 2003 I opened a checking and savings account with PSECU. My main reason behind it was that it was the only ATM available on campus where I was attending college. I loathed fees and wanted to avoid them if at all possible. I didn't quite understand at the time that PSECU was an online only institution. A representative was at the university to help setup and open new accounts. Over the years I've found myself rather pleased with the fact that I made such a decision, even though it wasn't really researched at the time. With the growth of the internet, I was able to watch PSECU expand into areas that I never would have imagined a decade prior. I remember depositing a check online for the first time and mailing it in to them. I remember downloading the mobile app the first time that it became available. I remember depositing my first check through the same mobile app and the amazement that came with the idea that I no longer had to waste postage to mail it in.
Aside from the breakthrough technology, PSECU has offered a lot of other benefits, many of which they helped to pioneer. They waive a portion of your ATM fees each month. You can get up to $20/month waived if you have direct deposit into their checking account. This comes in very handy if you happen to move away from a convenient ATM location. The also offer automatic transactions that you can set up. This comes in both the form of Bill Payer as well as moving money between various accounts. For the longest time I used this function to automatically move money from my checking to savings account after each pay day. They also offer other things such as e-statements and forms, although most forms must still be printed out and mailed. Overall I have loved banking with PSECU and look forward to all the new things they have in store for us.
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!
Nice credit union
My husband and I have had excellent experiences working with PSECU. This is despite the fact that that we do not have a brick and mortar credit union to go to. Their customer service has been exceptional, and they make it super easy to do long distance banking. They reimburse fees for ATM withdrawals that are taken at other institution's ATMs. One time we had to pay cash for a large purchase, and customer service at PSECU made it super easy by just removing the $300 withdrawal restriction, so we could easily get the cash we needed at the ATM. There aren't any charges for their checks, and we've been with them a long time with no complaints. They've kept up to date with technology, so it's easy to deal with them online, or calling their customer service.
Data as of Q2 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 64131 |
| Year Chartered | 1933 |
| Employees | 786 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.25% |
| Return on Equity - YTD | 11% |
| Annual Interest Income | $118.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $5.56B$5.33B |
| Loans | Q2 2019vs Q2 2018 | $4.39B$4.08B |
| Deposits | Q2 2019vs Q2 2018 | $4.90B$4.71B |
| Equity Capital | Q2 2019vs Q2 2018 | $629.6MM$592.9MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $43.6MM$42.6MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $23.1MM$21.3MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $360.00K$887.00K |
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
PSECU Add-On Feature For CD's Is Still Available
PSECU CD's With Add-On Option
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 cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Pennsylvania State Employees Credit Union Savings Account Rates
Pennsylvania State Employees Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.20% | $500 | - | Money Market Account | |
| 0.20% | $2.5k | - | Business Money Market |
Pennsylvania State Employees Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.10% | - | - | Checking Account | |
| 0.10% | $2.5k | - | Business Checking |
Pennsylvania State Employees Credit Union CD Rates
Pennsylvania State Employees Credit Union IRA Rates
| Pennsylvania State Employees Credit Union Locations | ||
|---|---|---|
| Branch Office | 121 Strawberry Sq | Harrisburg, PA 17101 |
| Branch Office | 1 Credit Union Pl | Harrisburg, PA 17110 |