$52.5 Million in Cash Back to PSECU Members Since 2013
Harrisburg, PA - January 3, 2017 - For the fifth consecutive year, PSECU has been financially successful, and is giving another Relationship Reward to their membership. This year, the Board of Directors authorized a $10 million Reward and since the program's inception in 2013, the credit union has returned $52.5 million in cash Relationship Rewards to their members.
When PSECU exceeds their financial goals, the outpouring of a Relationship Reward is one of many benefits members may enjoy. Other benefits include superior digital banking, free checking services, low-rate lending, and ATM surcharge reimbursements. In addition, PSECU launched an initiative in 2015, saving the membership nearly $20 million in interest by refinancing the higher rate loans they held elsewhere. The goal is to give members financial opportunities to live a better life and keep their money with them, where it belongs.
PSECU President Gregory A. Smith said, "While many financial institutions are adding fees, we're excited to give our members money back. In the coming year, returning money to our members will continue to be at the heart of what we do. In addition to all the other value-focused services, this week we introduced a cash rewards credit card, the Founder's Card. It joins our other low-rate lending and refinancing solutions to help members save more of what they make."
"We're also excited to be investing more in emerging technologies so that members have an even simpler, safer and more convenient banking experience." Smith notes, "Keeping the membership at the forefront of our decisions is imperative, after all, at the end of the day, it's the member we work for."
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 400,000 members and have over $4 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 on how we contribute to the greater good, view our Community Report Card.