Philadelphia Federal Credit Union named among best credit unions in Pennsylvania by Forbes
PHILADELPHIA, PA (July 5, 2018) — Philadelphia Federal Credit Union (PFCU) has been ranked among the best credit unions in Pennsylvania, according to the first-ever “Best-In-State Banks and Credit Unions” list released last week by Forbes, in partnership with market research firm Statista.
The list was developed by surveying more than 25,000 customers and members in the U.S. about their current and former banking relationships, then ranking institutions based on overall satisfaction as well as trust, terms and conditions, branch services, digital services and financial advice.
“As a member-owned financial institution, PFCU is in the business of putting people first,” said James McAneney, President/CEO of Philadelphia Federal Credit Union. “We take pride in offering an array of financial education seminars and banking services designed to help our members meet their financial goals, and we’re honored that PFCU received recognition as one of the top credit unions in Pennsylvania.”
Large national banks were not considered for inclusion on the list; Navy Federal Credit Union, which operates in 30 states, was the only credit union not eligible for inclusion. The final list rated 124 banks and 145 credit unions, representing 2.4 percent of all financial institutions in the U.S., with scores ranging from 40 to 95.4. PFCU earned a score of 82.31, above the national average of 80 for credit unions (and the average bank score of 75.2).
Regarding the disparity between credit unions and banks, Forbes quoted Statista CEO Friedrich Schwandt, who said, “Customers prefer credit unions because they themselves are the shareholders.”
A full-service, not-for-profit financial institution, PFCU invests profits back into the communities it serves in the form of higher interest rates, lower fees, financial education programming and philanthropy.
To learn more about PFCU’s mission, services and upcoming events, visit pfcu.com.
About Philadelphia Federal Credit Union
Founded in 1951, PFCU is a member-owned, not-for-profit financial institution serving Philadelphia and Columbia County, Pa. PFCU is among the top five credit unions in the Greater Philadelphia area, with 11 branch locations, more than $1 billion in assets, over 119,000 members, and more than 400 Partner Groups. PFCU returns its profits to members in the form of higher dividend rates, lower loan rates, better services, and investment in the community. For more information, visit www.pfcu.com and connect with PFCU on Facebook, Twitter, LinkedIn and Instagram.