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PSECU Thanks Members with $10 Million Relationship Reward

Harrisburg, PA – In 2008, the U.S. economy experienced the worst recession since the Great Depression, and has undergone a very slow and extended recovery.  Credit unions were also subject to the repercussions of the economic fallout, including PSECU.  Fortunately, the credit union not only met the challenges it faced, but prospered during that difficult time.

PSECU would not have been able to continue to grow over that period had it not been for its members, and in recognition of that, its Board of Directors has announced it will be issuing a $10 million Relationship Reward to the members who made it possible.

To be eligible for the Reward, the member must be in good standing and have certain products and services with PSECU.  All eligible members receiving the Reward will get at least $10 and the final amount will be determined by two components.  The first is usage of eligible products and services which earns a fixed dollar amount depending on the product or service. The second is a percentage based on both the amount the individual member and the entire membership received in total dividends earned and interest paid in the past year.

In announcing the dividend, PSECU President Gregory A. Smith said, “We’re extremely pleased to be issuing the Relationship Reward.  After the recession, we wanted to make sure the credit union was in a healthy position and we’ve more than done that.  Thanks to our members we’re as strong as ever and as a member-owned cooperative, it’s only right that we give back to the members.”

Opened in 1934, PSECU was founded by twenty-two 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 nearly 400,000 members and have assets over $4 billion. As a not-for-profit financial institution, our goal remains to help our members and their families achieve a better life.

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