PSECU (PA) Offers Competitive 36-Month CD (3.25% APY)


Deal Summary: CDs – 24-month (3.00%) and 36-month (3.25% APY), $500 minimum deposit.

Availability: Easy membership requirement for Pennsylvania residents.

For a limited time, PSECU is offering special rates on its 24-month CD (3.00% APY) and 36-month CD (3.25% APY). The minimum opening deposit is $500, with no stated balance cap.

3.25%$500-Pennsylvania State Employees Credit Union36 Month CD
3.25%$500-Pennsylvania State Employees Credit Union36 Month IRA (Traditional, Roth, CESA)
3.00%$500-Pennsylvania State Employees Credit Union24 Month CD
3.00%$500-Pennsylvania State Employees Credit Union24 Month IRA (Traditional, Roth, CESA)
Rates as of September 17, 2019.

PSECU CDs are available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements and options.

48- and 60-month CDs

Two weeks ago, I wrote about PSECU’s competitive long-term CDs, which offered an add-on component. While the rates for the 48-month CD (2.75%) and 60-month CD (3.00% APY) are still in effect, the add-on feature is no longer available.

As stated in the Truth-In-Savings disclosure, the Early Withdrawal Penalty reads as follows:

For 3-24 month certificates, any early withdrawal will cause a forfeiture of 90 days’ worth of dividends on the principal amount withdrawn, whether or not the certificate has earned an initial dividend.

For 36-60 month certificates, any early withdrawal will cause a forfeiture of 180 days’ worth of dividends on the principal amount withdrawn, whether or not the certificate has earned an initial dividend.

Funding and Accessing Maturing Funds

CDs can be funding online through ACH, wire transfer, or by check. Maturing funds can be distributed through a cashier’s check or transferred to a PSECU checking or savings account. There is a 10-day grace period before a CD automatically renews.


Headquartered in Harrisburg, Pennsylvania, PSECU’s field of membership (FOM) provides a way to join for almost any Pennsylvania resident. When I wrote about PSECU earlier this month, I had been told by CSR that anyone, regardless of where they lived, could join PSECU. This morning, I was told that information was wrong: membership is limited to Pennsylvania residents.

Easy Membership: Joining the Pennsylvania Recreation and Park Society (PRPS) qualifies for membership. “PRPS membership costs $20 per year, but we will cover $10 of that when you join.” This is a one-time fee, as it is not necessary to renew the PRPS membership to maintain your PSECU membership.

Employment: Employees of Pennsylvania government agencies (both state and local), municipalities, or school districts are eligible to join, as are employees of more than 1,800 Pennsylvania companies.

Educational Relationship: Employees, students, and alumni of a number of Pennsylvania colleges and universities also qualify for membership.

Family Relationship: Household and immediate family members of current PSECU members are welcome to apply. “Immediate family” is defined as spouse, parent, child, sibling, grandparent, and grandchild, including step and adoptive relationships.

Joining PSECU and/or opening a CD can be done online, or at either of two full-service Pennsylvania branches, both located in Harrisburg.

PSECU also has 21 eBranches throughout the state, where “members can ask staff about our products and services and how to use them.” While no teller-assisted transactions are available, the eBranches do have an ATM and computers available for members to use. The eBranches are located in Bethlehem, Bloomsburg, California, Cheyney, Clarion, East Stroudsburg, Elizabethtown, Indiana, Kutztown, Lancaster (2), Lock Haven, Mansfield, Millersville, Philadelphia, Reading, Selinsgrove, Shippensburg, State College, West Chester, and York.

Each member must maintain at least one share ($5 par value) in Regular shares.

PSECU participates in the CO-OP ATM network, with access to nearly 30,000 surcharge-free ATMs.

Getting cash, making deposits, and checking your balance just got easier. With our network of ATMs around the globe, we give you the access to manage your money easily. You’ll get an added benefit, too: Free ATMs (that is, ATMs with no surcharge).

PSECU also offers rebates on surcharge fees from non-network ATMS:

  • For members with direct deposit – rebates up to $20 per month.
  • Without direct deposit – rebates up to $8 per month.

Credit Union Overview

PSECU has an overall health grade of "A" at, with a Texas Ratio of 3.26% (excellent) based on March 31, 2019 data. In the past year, the Credit Union has increased its total non-brokered deposits by $200.91 million, an excellent annual growth rate of 4.27%. Please refer to our financial overview of PSECU (NCUA Charter # 64131) for more details.

Originally known as the Pennsylvania State Employees Credit Union, PSECU was established in 1934 and was “born out necessity.”

Our 22 founders were state workers, struggling against low wages and a high cost of living. They were living paycheck to paycheck. Banks didn’t want to lend them money, and loan sharks were charging as much as 40% interest.

As Pennsylvania’s largest credit union, PSECU currently has nearly 456,000 members and assets in excess of $5.5 billion.

How the CDs Compare

When compared to 410 similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the FOM, PSECU's 36-month CD APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
3.25% APY36-Month CDPSECU
3.00% APY36-Month CDMAC Federal Credit Union
2.89% APY36-Month CDHughes Federal Credit Union

When compared to 422 similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the FOM, PSECU's 24-month CD APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
3.00% APY24-Month CDPSECU
2.85% APY21-Month Promotional CDFirst Peoples Community Federal Credit Union
2.80% APY24-Month CDMAC Federal Credit Union

The above rates are accurate as of 8/20/2019.

To look for the best CD rates, either nationwide or state specific, please refer to our CD Rates Table page.

Related Pages: Harrisburg CD rates, 5-year CD rates

Ouch!   |     |   Comment #1
For out state residence, in order to join through Pennsylvania Recreation and Park Society, it'll cost you $120. Ouch! To bad the credit union doesn't help waive the PRPS membership fee for out of state residence.
Anonymoose   |     |   Comment #2
If you're depositing large amounts the $120 is trivial. On $250,000, $120 only reduces the first year return from 3.25‰ to 3.2452‰. For the next two years you get the full 3.25%.

I would pay the fee in a heartbeat if I was in the market. But l unfortunately my next big cash roll over won't be until December. The outlook for for the economy is good but the outlook for interest rates for depositors by then isn't looking good. Nothing I can do about. I may consider putting some of it in the stock market and reducing my cash portfolio.
Math Student
Math Student   |     |   Comment #4
$120 joining fee on a deposit of $250K reduces the first year APY to 3.20% not 3.24% (rounded down to 2 decimal places).
AhorrarDinero   |     |   Comment #3
it only asks for 10$ on the application and says nothing about 120$ for out of state
Percussed   |     |   Comment #5
Very disappointed to hear from Ken that PSECU's long standing CD add-on feature has been scrapped. They have been a great strategy for me during periods of declining rates going back many years of membership. The 24 month 3% APY and the 36 month 3.25 PAY CD's are at least some short term positive news. I wonder how long the short term availability of these two CD's will be.
Att   |     |   Comment #6
#5 With rates going down and the outlook of lower rates I think we will no longer be seeing add on CDs.
QQQ   |     |   Comment #7
GTE, at the high rate, remains available for one more day. Rising Bank's add-on continues available. You need $25,000 to get started there and the account is capped at $500,000. GTE, insofar as I'm aware, has no such cap.
QQQ   |     |   Comment #8

And at GTE, even tomorrow, you can open without funding and receive a 30 day grace period for actual funding. So in effect the GTE add-on will remain available for an additional 30 days, provided the account is opened, though not necessarily funded, before Friday.
zjts   |     |   Comment #10
How? I tried online & did not see how, called & chatted & was told it had to be funded to guarantee the rate

could someone post the link to the usps fcu offers?
Ricochet   |     |   Comment #14
QQQ #8
It's past time to apply using 30 day scenario,
but was your CD for an IRA account
enelrad1123   |     |   Comment #9
I can confirm that out of state residents can join PSECU and that membership dues for the Pennsylvania Recreation and Park Society are only $10. You must join the Park Society during your application with the credit union, not through the Park Society's website. I do not live in Pennsylvania and I was able to complete the application yesterday and fund the required $5 for a credit union share account and $10 membership to PRPS with my debit card.
Wil   |     |   Comment #13
did you open CD along with applying for the membership?
Tom   |     |   Comment #16
You have to apply for the membership first, then add a certificate after logging into online banking.
Sylvia   |     |   Comment #19
As an out-of-state resident looking to join PSECU through Pennsylvania Recreation and Park Society, I just spoke with a rep in the credit union's applications department who was most adamant that this was a route only available to PA residents. She refused my request to seek confirmation with others in her department, saying you can't join PRPS unless you're a Pennsylvania resident. I checked PRPS’s site, For the “Friend” category, which costs $20 and is open to "Individuals that wish to support the Society in advancing recreation and parks in Pennsylvania … Open to individuals that do not qualify for other categories,” it does say, "Must be a resident in Pennsylvania.” Have any non-resident DA readers succeeded in joining CU despite this apparent barrier?
Ann   |     |   Comment #20
Don't listen to the CSR. I am a non-resident but joined the CU last week successfully. I already opened a new 36 month CD without any issue.
enelrad1123   |     |   Comment #21
Sylvia, I'm sorry you're having so many problems. You are correct that the PRPS website states you must be a resident of Pennsylvania to join. When I mentioned this to the CSR at PSECU, she explained the credit union used to be open to PA residents only, but had changed their policy and that you must join the PRPS during the application process with the credit union (not the other way around). The day after I submitted my application to PSECU along with $15 ($5 to fund the share account at the CU and $10 for PRPC membership), I received a call from Adam in the Loss Prevention department. He requested copies of our SS cards and 2 proofs of residency. He followed up with a phone call with additional questions. It was a cumbersome process to join this CU, but I thought it was worth it because of their competitive rate. Perhaps if you contact Adam with the loss prevention dept. he could assist you. I think he was the one who finally approved this out-of-state resident for membership. Best of luck.
Sylvia   |     |   Comment #22
Thank you, Ann & enelrad1123 for responding so quickly. With your confirmation, I jumped online to apply, learning, in the process, that the rep I spoke with earlier was indeed misinformed. Separately, a rep in the CD dept. said she believed the change to allow for non-residents through PRPS was recent. I'm now awaiting approval.
Percussed   |     |   Comment #11
Just opened a new 36 month CD and the add-on feature remains available for all PSECU CD's. Ken reported on August 20, 2019 review/post that "the add-on feature is no longer available." PSECU allows add-ons as long as they are setup within the first 30 days of account initiation. It requires that a set dollar amount at specific time frames (weekly, bi-monthly, monthly) be established. The add-on amount may be decreased or concluded at any time during the term, just not increased.
Wil   |     |   Comment #12
anyone know if they do a hard pull or soft pull to the credit score?
Tom   |     |   Comment #15
I got a hard pull from Experian
Akreydin   |     |   Comment #17
How much time from CD account opening do you have to actually fund? Don’t have any rollovers till mid September :(
dasave   |     |   Comment #18
Do you get member# immediately at conclusion of online application?
Do you need to have external bank/cu put the cd$ in psecu sav acct first & call to have it moved to the cd, or does psecu pull the cd funds?
Does the cd rate lock when you apply or when psecu gets the funds?
Any known psecu ach amount limits in or out, when initiated by external bank/cu?
scanchain   |     |   Comment #26
I applied for membership today. I did NOT get the membership # at the end of the application process. Says the application needs to be reviewed by a processor before approval. I suspect they are swamped.

They did a hard inquiry on Experian.
scanchain   |     |   Comment #27
Just to add further: you need to have your membership approved before you can even open the CD. So you won't be able to lock on the CD rate.

It's a gamble you have to take that you can have the following completed before any CD rate change

1) membership applied
2) membership approved -- you should get your account number at this point
3) initiate your funds transfer into the savings account
4) open the CD and transfer the money in the savings account to the CD

After waiting for the whole day (applied early in the morning), I am still at step 1. :-(
scanchain   |     |   Comment #28
Update -- it took two days before I was able to obtain my membership number. If anyone is thinking of starting a new membership to lock in the rates for this week, it is probably too late. Wait for new Monday to see if the rates hold before starting.
Kit   |     |   Comment #29
I was able to join this credit union although I don't live in Pennsylvania. It took a few days for them to look at my application and approve it and then give me the membership number for a savings account.

Then there was no obvious way to ACH transfer money on the website. I called and was told I had to open a checking account if I wanted to ACH push in any money (savings account would not do per the rep). I then had to wait another few days for microdeposits to link my outside account. However, once my checking account was linked, it looks like you can only ACH push in $1,500 at a time with a limit of only a total of $6,000 ACH transfers a month. I wish I had known that small limit up front and that is why I am commenting to help others who may still be applying.

If you don't want to snail mail a check, you will have to send a wire to open a CD. Per PSECU's website it is $10 for them to receive the wire. If anyone has a Marcus Bank account, it is free to receive/send wires which is a great benefit. However, I won't be able to take advantage of Marcus's free wire policy as it will take too long to transfer the money in/be available, so I will have to bite the bullet and pay a $30 wire outgoing wire fee with my main bank. I have never wired money before, but I am planning on doing that tomorrow hopefully before the 3.25% 36 month changes. This is not a simple application process, but this credit unions' reviews are good and I like the ability to add on a fixed amount if set up within the first 30 days only.
Kit   |     |   Comment #30
Edit: I meant to say above, that the $1,500 daily limit/$6,000 aggregate monthly limit was for ACH pulls from PSECU's side (not push; though I have not called PSECU about that).
scanchain   |     |   Comment #31
PSECU does not charge for incoming domestic wires. I know because I just did it today by sending a wire from Fidelity. Fidelity does not charge for wires either.

The funding happened quickly. It took less than an hour from the moment I submitted the online wire request at Fidelity to the time the money hit the savings account. Once the money was in savings, I was able to purchase the CD online. On the CD purchase page, it does indicate that the rates are valid until 9/8/19 Sun.

The electronic funding department told me that they process wires as they come in M to F, until 4pm ET. So make sure to submit your wire way before the cutoff time to allow time for your local bank to process the wire.
Kit   |     |   Comment #32
Thank you scanchain for your update. I called and confirmed there is no incoming wire fee to PSECU (the $10 wire fee on their website must be for outgoing wires). I was able to wire the money in yesterday and open up the 36 month 3.25% CD with the option (first 30 days of CD only) to add on a fixed amount in a set time frame just like Percussed said (1 month is the longest interval; as I opened up the CD 9/6/19, the last available date for the first add-on was 10/6).

However, the customer service rep gave me an alternative (that I did not pursue) to deposit funds. Per the rep, would first need to sign up for PSECU mobile deposit on your cell phone. Then write a check payable to yourself. Then sign back of the check with For Mobile Deposit Only with your signature underneath. Then take pictures of the front and back of the check with the app to deposit. Finally call customer service to raise the limit to accept the check (if the amount is large). The rep told me that you could then fund the CD the same day although the CD would be on hold until the funds cleared. I did not want to risk a rate decrease if there was a delay, so I did not take her up on this way to transfer funds, but this is something to consider. The rep said you could also deposit funds with a check at a participating ATM, which I also did not want to risk.
scanchain   |     |   Comment #33
Kit, great to hear that it works out for you!
Sylvia   |     |   Comment #23
I was told rate changes, if any, usually occur on Mondays. For next week, it would be on Tuesday due to Labor Day. Fingers crossed that we'll see no change for awhile.

Some additional info I gathered from CD dept: (1) Funds must be in a liquid account w/in CU before you can open CD, (2) Any check deposits over $1K is subject to a hold that can be transferred to CD but would entail speaking with a CSR who are not available on Sundays, (3) Their ACH limits for pulling money into account is very low ($500).
Alert Owl
Alert Owl   |     |   Comment #24
I completed account set up today and funded through wire transfer. CD's should be funded tomorrow, was a very tedious process for me. Totally not a mobile banker! Everything stated is accurate but I'm not sure the rates will still be in affect after Labor Day. When I logged into my account the rate table only stated these rates to the end of August. CD dept. works 9-5 M-F.
Sylvia   |     |   Comment #25
Congrats on getting everything set up. It sounds like you’re good to go. If your use of "tedious" was in reference to app process, I totally agree. By the way, once wired funds are in your account, you should be able to open CD yourself online. There should not be any need to involve CD dept.

I’m waiting to get my account verified with external FI so I can push in funds by ACH. I thought it would have happened today. Now will have to wait until Tuesday to initiate transfer, after I can confirm rates. I’m gambling they won’t go down. Should that happen, I’ll plop funds elsewhere.

I'm not sure what you mean about rates likely ending soon. The CD rate table gives only an effective day ("valid as of 8/19/2019”), There's no expiration date that I can find.
scanchain   |     |   Comment #34
It looks like PSECU’s CD specials are holding for another week.

24mo @ 3.00% APY
36mo @ 3.25% APY

“These rates are valid from Monday, September 09, 2019 to Sunday, September 15, 2019. A minimum balance of $500 is required to open a certificate account.”

If you are not a resident of PA, you can qualify through a one time $20 PRPS membership (you pay $10, PSECU pays the other $10).
Sylvia   |     |   Comment #35
No change in rates today which means 24 and 36 month promos remain good through at least Sunday. With the avalanche of reported cuts we've been seeing from other FIs, this is much appreciated.

Remember, you need only $500 to open one. Additional deposits are allowed, provided they're done through automatic transfers on a recurring basis. After opening CD, you have 30 days to begin scheduling of add-on deposits.
PSECU Has Nationally Available 60-Month Add-On CD (3.00% APY)
Deal Summary: Add-On CDs – 48-month (2.75%) and 60-month (3.00% APY), $500 minimum deposit, regularly scheduled additional deposits allowed.

Availability: Easy membership requirement

Many thanks to DA reader, Percussed, for his timely Forum post concerning PSECU’s competitive long-term CDs, which have an add-on component. The 48-month CD (2.75%) and 60-month CD (3.00% APY) can be opened with a minimum $500 deposit.

PSECU CDs are available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements and options.

As Percussed stated,

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