Pennsylvania State Employees Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 3.00% | 5-year CD | 3.10% - Barclays 60 Month Online CD |
| 1.75% | 1-year CD | 2.75% - Barclays 12 Month Online CD |
| 0.15% | Savings | 2.20% - Barclays Online Savings Account |
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 December of 2018, it had grown to 769 employees and 453,181 members at 25 locations. Pennsylvania State Employees Credit Union's CD rates are 94% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Pennsylvania State Employees Credit Union is open to Pennsylvania residents who are members of 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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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.
Excellent Account Management Control
At PSECU, I consistently feel able to control my funds. Cash is easily moved between savings, checking, and money market accounts. Savings, Checking, Money Market, and CD rates are fairly competitive compared to major bank institutions and customer support is easily accessible to move funds when CDs mature if you decide not to automatically renew the CD at the same maturity period. I would prefer to see some options to include my own categories for labeling transactions, but this is easily achieved with easy transaction information export. Other than the five dollars that must sit within my savings account as a 'membership fee' of sorts, I don't believe I've ever been charged a fee - I actually tend to receive a yearly bonus when PSECU shares their profits at the beginning of the year, based on what accounts and tools I take advantage of using. It's not a large bonus, but it's certainly appreciated.
Easiest Credit Union to work with
We joined this credit union through our workplace and it has been the easiest credit union to deal with. The customer service is fantastic and locally based. If we ever have any questions or problems, I do not hesitate to call because I know I will be able to understand them when they talk, they will be polite and courteous and will be able to answer and/or fix any problems we may be having. I have since referred my brother and parents to them for auto loans and they are just as pleased with the service as we are. The online features may transactions very easy as well.
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 Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 64131 |
| Year Chartered | 1933 |
| Employees | 769 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.76% |
| Return on Equity - YTD | 6.83% |
| Annual Interest Income | $217.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $5.36B$5.09B |
| Loans | Q4 2018vs Q4 2017 | $4.27B$3.97B |
| Deposits | Q4 2018vs Q4 2017 | $4.71B$4.50B |
| Equity Capital | Q4 2018vs Q4 2017 | $593.5MM$553.9MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $45.3MM$50.5MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $25.6MM$26.5MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $340.00K$552.00K |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.50%* | - | $500 | Youth Savings Program | ||
| OTHER TIERS: 0.15% → $500+ | |||||
| 0.15% | - | - | Regular Share Account | ||
| 0.15% | - | - | Vacation Savings Share | ||
| 0.15% | - | - | Christmas Savings Share | ||
| 0.15% | - | - | IRA Savings Account | ||
| 0.15% | - | - | Summer Pay (S5) Account | ||
| 0.15% | $500 | - | Business Regular Share | ||
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $500 | - | 60 Month CD | |
| 2.75% | $500 | - | 48 Month CD | |
| 2.50% | $500 | - | 36 Month CD | |
| 2.25% | $500 | - | 24 Month CD | |
| 2.00% | $500 | - | 18 Month CD | |
| 1.75% | $500 | - | 12 Month CD | |
| 1.50% | $500 | - | 9 Month CD | |
| 1.25% | $500 | - | 6 Month CD | |
| 1.00% | $500 | - | 3 Month CD |
Pennsylvania State Employees Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $500 | - | 60 Month IRA | |
| 2.75% | $500 | - | 48 Month IRA | |
| 2.50% | $500 | - | 36 Month IRA | |
| 2.25% | $500 | - | 24 Month IRA | |
| 2.00% | $500 | - | 18 Month IRA | |
| 1.75% | $500 | - | 12 Month IRA | |
| 1.50% | $500 | - | 9 Month IRA | |
| 1.25% | $500 | - | 6 Month IRA | |
| 1.00% | $500 | - | 3 Month IRA |
