Benefits of Banking with PSECU

Benefits of Banking with PSECU

What are you looking for from a financial institution? Perhaps you want a safe place for your emergency fund, are interested in a debit card or checking account, or would like to take out a loan. We offer all of that to our members and more! If you’re considering switching to a new financial institution, check out why PSECU might be right for you.

Credit Unions vs. Banks

PSECU is a credit union, not a bank. There are differences between credit unions and banks, and those differences matter to our members. Credit unions are not-for-profit financial institutions, meaning they aren’t focused on earning big bucks for their stockholders. Credit unions work to support the financial well-being of their members, who are all part owners of the organization.

As a credit union, we’re able to offer our members benefits that banks often can’t, providing over $42 million1 in member giveback throughout 2019. We return surplus earnings to our members in the form of benefits such as no- or low-fee products and services, ATM rebates2, debit card rewards3, and credit card cash rewards4.

Commitment to the Community

Our philosophy is that of “people helping people.” We want to help make our community stronger and give back where we can. Our commitment to the community can be seen through several of our programs and initiatives throughout the year. In 2019, we gave over $3 million in community support.

Just one example of this is our annual scholarship program. We offer scholarships of up to $8,000 to members who are graduating high school seniors. Since 1997, we’ve provided scholarships to more than 100 students, awarding more than half a million dollars to those furthering their education.

We also have a variety of financial resources available for both members and non-members alike, including our Online Learning Center, WalletWorks resources, workshops, and a blog that offers financial tips for every stage of life.

Account Options and Products for Everyone

Young, old, or somewhere in between, PSECU has options available for everyone, including checking and savings shares with no monthly fees, a special higher-yield savings rate for children under age 18, and IRAs and certificates for those saving for retirement.

Benefits of opening a checking account with PSECU include:

  • No monthly fees
  • Mobile deposit
  • Free credit score service5
  • Anytime, anywhere account access through the use of our digital banking tools
  • Free access to nearly 30,000 ATMs nationwide, including rebates of up to $20 per month for fees charged by out-of-network ATMs if you have direct deposit with us, or up to $8 per month without direct deposit.

We also have a wide variety of loans available, from mortgages and auto loans to personal and business loans. We’re here to help you choose the loan that best meets your needs and helps you reach your goals.

Member Benefits

Joining PSECU will give you access to a variety of member benefits, including debit card rewards that allow you to earn $0.10 or $.05 cash rewards on eligible purchases of $10 or over3, credit card cash rewards that allow you to earn 2%4 or 1.5% cash rewards on every purchase, and surcharge-free ATMs.

In addition, we offer a suite of money-saving opportunities for members, including discounts on TurboTax® and perks from other brands like Sprint® and SimpliSafe™.

Who Can Join PSECU?

Eligibility is easier than you think, and chances are, you’re eligible to join. Once you do, you can remain a member for life and take PSECU with you wherever you go, regardless of where you live, study, or work. Check out the four paths to PSECU membership below:

  • Family or Household Resident: You reside with a PSECU member or your relative is a PSECU member. Qualifying relatives include: adoptive relationships, child or stepchild, grandchild, grandparent, parent or stepparent, sibling or stepsibling, and spouse.
  • Education: You attend, currently work at, or graduated from one of the many Pennsylvania colleges or universities with which we have a relationship.
  • Employee: You are a Pennsylvania state or local government employee, a municipality or school district employee, or an employee of a company that offers membership as a benefit. More than 1,000 employers across Pennsylvania offer PSECU membership.
  • Pennsylvania Recreation and Park Society Membership: If you don’t meet one of the above criteria, you can join the Pennsylvania Recreation and Park Society (PRPS) through PSECU to become eligible for PSECU membership. PRPS Friend membership is a one-time fee of $20, but PSECU will cover $10 when you open your account online. We’ll also take care of your PRPS membership registration as part of your PSECU membership application.

Take advantage of all we have to offer to take control of your financial future and boost your savings. Learn more about who we are and how we give back, then take the next step and join PSECU today.

1Total amount given back to or saved by members in the form of debit card rewards, Founder’s Card cash rewards, ATM rebates, bill payer usage, free checks, and Special Membership Reward.

2If you use an out-of-network ATM and get charged, we’ll rebate fees up to $20/month with direct deposit, and up to $8/month without.

3You can earn $0.10 cash rewards on eligible purchases of $10 or over with a PSECU checking account and one or more qualifying monthly direct deposits totaling at least $500. You can earn $0.05 cash rewards on eligible purchases of $10 or over for accounts with a PSECU checking account. Certain restrictions may apply. See the Visa® Debit Card Rewards Program Terms and Conditions for full details.

4You can earn 1.5% cash rewards on purchases. You can earn 2% cash rewards on purchases if you maintain a PSECU checking account and qualifying monthly direct deposit(s) of at least $500. See the Visa® Founder’s Card and Visa® Alumni Rewards Card Rewards Program Terms and Conditions for full details.

5PSECU is not a credit reporting agency. Members must have PSECU checking or a PSECU loan to be eligible for this service. Joint owners are not eligible.

The content provided in this publication is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by PSECU. PSECU does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. PSECU does not warrant any advice provided by third parties. PSECU does not guarantee the accuracy or completeness of the information provided by third parties. PSECU recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.