Press Release

Pennsylvania-based Credit Union and Its Members Contribute $320,000 to 2017 Hurricane Season Relief Efforts

Harrisburg, PA - October 23, 2017 - Today, leading Pennsylvania-based credit union PSECU distributed checks totaling $170,000 to support the 2017 hurricane relief efforts of eight national and international charities. The total includes $20,000 in corporate donations and $150,000 in matching funds based on PSECU member contributions. As a result, PSECU and its members jointly have already contributed $320,000 to the cause, and the figure continues to grow.

"In the wake of the devastation caused by Hurricane Harvey, our Board of Directors authorized a corporate donation of $20,000 to be shared equally among a selection of eight national and international charities that were assisting hurricane recovery in diverse ways," said PSECU President Greg Smith. "In addition to this donation, the PSECU Board of Directors committed to matching our members' donations to the eight charities up to an additional $80,000. This matching commitment was later increased to $150,000 with the subsequent hurricanes that plagued the nation."

PSECU Board Chair Joseph Sassano explained the basis for the giving initiatives: "At PSECU, we make it a priority to follow the credit union philosophy of 'people helping people,' and with that in mind, we feel strongly that as an organization we need to take action to help those facing severe challenges as a result of heavy rains, wind, and flooding from this year's hurricanes. Making financial contributions to charities that are doing work on the scene is how we aid in the quick and efficient deployment of funds to help those in need. We also felt that it was important for us to give our members the opportunity to contribute to the cause and help make a difference. Our matching commitment aims to strengthen their individual giving ability."

PSECU members rose to the challenge in the weeks following the donation matching announcements. By the end of September, they had jointly contributed more than $150,000 through PSECU credit/debit card payments and Bill Payer service.

The eight charities assisting in the hurricane relief efforts - ranging from providing shelter to displaced individuals, to distributing essential food supplies, to assisting animals in need - will each receive a PSECU corporate donation of $2,500. They will also be awarded a portion of the credit union's $150,000 matching donation proportionate to PSECU members' contributions to each charity, bringing PSECU's total give to $170,000 and the joint give, including member donations, to $320,000. The list of charities includes:

"The response we received from our members is truly inspiring. We presented them with a challenge - to donate $150,000 to help others - and they came together in force to accomplish that goal," said Smith. "The generosity of PSECU members will go a long way to assist the work being done to help those experiencing hardship due to the hurricanes of 2017. I can't express how grateful I am to know that as a credit union, we've made it a priority to alleviate some of the burden that others are experiencing as a result of these devastating natural disasters."

About PSECU

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 430,000 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.