Harrisburg, PA (April 4, 2019) - Pennsylvania's largest credit union, PSECU, proudly sponsored the eighth annual Pennsylvania's State System of Higher Education Business Plan Competition, providing the first-place prize of $10,000 at the awards ceremony hosted at the Dixon University Center yesterday. The Business Plan Competition is an opportunity for students attending one of the State System's 14 state-owned universities to compete for prize money that can assist them in making their dreams of becoming an entrepreneur come true.
"The students who participate in the Business Plan Competition are innovators. They've put the education they received through Pennsylvania's State System of Higher Education to work, they've harnessed their creativity and professional drive, and they've used their collective skill sets to come up with business ideas that can have positive impacts for themselves and others around them," said Barb Bowker, PSECU Vice President of Marketing and Membership Development and Vice Chair of Pennsylvania's State System of Higher Education Foundation. "PSECU's story is similar - 85 years ago, our 22 founders started the credit union in hopes of creating a better life for themselves and others in the community. From their innovation, and the $90 they pooled, we've grown to become Pennsylvania's largest credit union, and we're honored to continue their ‘people helping people' philosophy by supporting this year's Business Plan Competition."
According to Pennsylvania's State System of Higher Education's Business Plan Competition website, "All competitors are encouraged to use their imagination to create their best business ideas. Each university has faculty and staff who are dedicated to providing personal attention to students' ideas to prepare them for launch in today's marketplace. A team of judges reviews the business plans, and the finalists, as well as all of the competitors, are recognized at an awards ceremony."
At a reception immediately preceding the April 3 awards ceremony, semi-finalists and finalists participated in a poster display session. During the awards event, first-, second-, and third-place prizes were announced, and PSECU provided a $10,000 check to the winner - Salih Salaam from West Chester University.
Additionally, PSECU University Development Manager Chris Rhine served as a judge for this year's Business Plan Competition.
"There were many impressive entries in this year's Business Plan Competition presented by extremely talented and innovative students from across the state. Selecting just one first-place winner was no easy feat," Rhine said. "On behalf of PSECU, I appreciate the opportunity to have helped contribute to the competition and the valuable experience it offers our students. I congratulate all of the students on their efforts and wish them the best of luck as they move forward with their plans to create, launch, and market new business ideas that are sure to benefit many."
Opened in 1934, PSECU was founded by 22 ordinary people who made an extraordinary commitment to each other: To create a financial institution where pooled resources benefit all members. Today, we are a full-service credit union serving more than 450,000 members and have over $5 billion in assets. As a not-for-profit financial institution, our goal remains to help our members and their families achieve a better life. For more information about PSECU, visit psecu.com. View our Community Report Card to learn how we contribute to the greater good.