Personal Finance Resources: Financial Education & Literacy

Q&A with Our President

Written by PSECU | May 3, 2019 7:12:05 PM

In early 2019, PSECU announced that George Rudolph had been selected to serve as our new President, and he officially took the helm on April 1. We sat down with George to learn more about who he is, what drew him to PSECU, and what plans he has for the future.

What’s the best thing about credit unions?  

The best thing about credit unions is what differentiates them from banks. Banks are owned by shareholders, and those shareholders benefit from their institutions’ success. Credit unions, however, are not-for-profit financial cooperatives, and their members are their co-owners. This means that when a credit union does well, all of its members do well – be it through low- or no-fee products and services, competitive loan rates, or top-notch service. At the end of the day, it comes down to where the focus lies. At credit unions, members are the focus, and everything we do aims to support their well-being and financial success.

What made you want to become the President of PSECU?

Credit unions are known for being very collaborative with one another. PSECU, in particular, has a great reputation among its peer credit unions for not only being helpful, but also for its forward-thinking, technologically advanced, and of course, member-focused qualities. Having worked within the credit union community for years, I’ve long been familiar with PSECU, and have admired it for those very reasons. To be able to return to my home state of Pennsylvania and serve its residents by contributing to the efforts of such an outstanding credit union was a dream come true for me. I’m so grateful to have the opportunity to lead the PSECU team.

What is something you’d like to see improve in the community?

There are a lot of causes in our community that merit our time and support, and it’s difficult to pick just one issue that you’d like to see improve. That said, I think there’s a gap in the way we teach our children about money and financial management. Schools – at any level from pre-k through university – are so focused on using precious classroom time to teach critical academic skills that financial management, which is also critical to success, is often overlooked. Similarly, parents today have a lot on their plates and can’t always dedicate the time necessary to pass on money management skills to the children in their lives. Some may even struggle themselves with understanding the fundamentals of managing finances. With no one good source of financial education, children often move into adulthood without a solid awareness of money, how it works, and how to make it work for them. Unfortunately, this can lead them into negative situations like unsurmountable credit card debt, cripplingly low credit scores, or predatory lending schemes.

I’d love to see our community make a move toward really instilling financial education into childhood learning. As a financial institution, we’re in a good position to help that cause. I’m so proud to see all the ways PSECU is already making this a priority, and I hope to see it expand going forward. To anyone interested in learning more about PSECU’s financial education resources, please visit psecu.com/learn.

What are your plans for PSECU?

PSECU is truly a great credit union. Just ask our 450,000 satisfied members – they are our best advocates. As the credit union’s President, I want to help share that message, too. My goal is to make sure that as many people as possible get to know us and what makes us different from other financial institutions. I want them to know about what we call Money Back Banking – all the many benefits we provide our members through low- or no-fee products and services. I’d also like them to know that our membership eligibility is broad, and that they’re likely able to join us even if they don’t know it, that we’re continually investing in technology resources so that banking is easy, reliable, and convenient, and that we’re here to be their trusted financial partner, whether they currently live in Pennsylvania or have ties here through family, work, or a former employer. There are so many great things about PSECU that people should know, and my plan is to make that happen.

What is something you look forward to?

I’ve been away from Pennsylvania living and working in the Chicago area for about 20 years, and while I enjoyed my time there, I’m thrilled to be home. I am really looking forward to becoming reacquainted with our state and all of the beauty within its borders – good places to go running and biking, events to attend with my family – and first and foremost, the people that call the Keystone State home. In my new role as President of PSECU, I have a unique opportunity to give back to my fellow Pennsylvanians. I look forward to meeting as many of you as I can, to supporting your needs, and to working alongside our 900 statewide employees to fulfill our promise to be your trusted financial partner.