Pennsylvania State Employees Credit Union
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 40th largest credit union in the nation. It was established in 1933 and as of June of 2024, it had grown to 852 employees and 591,352 members at 2 locations. Pennsylvania State Employees Credit Union has an A health rating.
Field of Membership Restrictions
Membership in Pennsylvania State Employees Credit Union is open to all U.S. citizens and resident aliens 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
Related Posts
8/10 - Extra! Extra! Read All About It! Our Money Market Rates Have Increased
6/27 - PSECU CD 12 Month 4.75%
1/17 - 12 Month CD 4.5% APY
1/4 - 4.5% On 13 Month Promo CD
11/14 - 1 Year CD Jumped To 4 Percent
8/13 - PSECU 20-Month CD, APY 3.00%
5/11 - PSECU Ups Rates A Little Not Nearly Market Rates
8/30/21 - PSECU Offers $250 Checking Account Bonus For New Members
3/2/21 - PSECU $100 Bonus Targeted Offer
3/10/20 - PSECU Lowers Certificate Rates
11/18/19 - Update on PSECU’s Very Competitive Special CD Rates
11/9/19 - CD Rates Decrease
11/9/19 - PSECU Announces New Rates
10/26/19 - PSECU (PA) 36-Month CD Still Earns 3.25% APY
10/2/19 - Attractive CD Rates
8/23/19 - PSECU Add-On Feature For CD's Is Still Available
8/20/19 - PSECU (PA) Offers Competitive 36-Month CD (3.25% APY)
8/7/19 - PSECU Has Nationally Available 60-Month Add-On CD (3.00% APY)
8/5/19 - PSECU CD's With Add-On Option
5/22/17 - $150 Direct Deposit Bonus - PA
1/15/09 - 4.50% 60-Month CD & 3.75% 24-Month CD at PSECU in Pennsylvania
9/6/07 - $100 Checking Account Bonus at a Pennsylvania CU (PSECU)
Like Watching Cheese Slide Off A Cracker
I have been a member of PSECU since the mid-90s. This credit union has slowly but surely been declining in customer and banking services. One of the only reasons I ever stuck with them was because of their low auto loan rates. So this is a credit union that doesn't have to abide by the same rules and regulations as a bank and yet it has the same current interest rates as banks do... And in some cases, higher. So why does a credit union, which lowers its customer service capabilities, have the same loan rates as a bank while being customer-owned? The only benefit you're getting from this credit union is free checking. You can't earn any interest worth mentioning on a savings account. I'm currently getting 4.4% interest on my savings at another bank while PSECU gives you 0.5%. So all of the money this credit union is making is being spent on itself instead of its customers/members.
Take a look at their Form 990 for 2022 (https://projects.propublica.org/nonprofits/organizations/230961140/202332909349301328/full)
Over $6.2 million per year on officer salaries? Over $1.2 million a year on officer compensation? Who has been doing the voting for officers and their salaries... The officers themselves? This is starting to sound a lot like Congress voting for their own pay raises while pretending they work FOR the American people. I've already transferred all of my accounts to another institution and aggressively paid off my new truck loan in six months just so I could leave. Goodbye PSECU!
Kim Hanging Up The Call In My Face
I am very frustrated with this company my grandson lost his job,Kim the manager as she stated hung the phone up in our face saying that she could not make any payment arrangements and threatened to repo the car.God sits high and look low she will remember this conversation when it comes back on her .
Rude manager
Good Referral Bonus
You can use my referral link if you want to help get the $300 bonus. Don't forget you can type in the code LEVELUP for the first $100. https://refer.psecu.com/zr4ii
GOOD BANK
Good people to work with. Excellent customer service. Great rates for used car loans. Easy qualifications. Got approved @ 773 CS after doing a successful credit score boost with credit boost helpers. Will use again for my next loan. Love the ease to getting the loan. Will recommend them for car loans and creditboosthelpers @ gmail .com for credit repairs.
Worst Credit Union
Ever since COVID it's like they do the bare minimum to get by. I attempted (key word, attempted) to do a balance transfer a little over 2 weeks ago... the balance has not been transferred and PSECU is blaming the post office. They can't help with any request and just give you the lamest explanations that really don't explain anything. This credit union will make you want to stand in traffic. They need to do better but I don't think they will.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 64131 |
| Year Chartered | 1933 |
| Employees | 852 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.47% |
| Return on Equity - YTD | 15.12% |
| Annual Interest Income | $232.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $8.54B$8.26B |
| Loans | Q2 2024vs Q2 2023 | $6.59B$6.27B |
| Deposits | Q2 2024vs Q2 2023 | $7.67B$7.44B |
| Equity Capital | Q2 2024vs Q2 2023 | $826.2MM$784.3MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $126.6MM$69.5MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $56.3MM$49.6MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$490K |