Pennsylvania State Employees Credit Union Savings Share Account Review

Pennsylvania State Employees Credit Union Savings Share Account is offered by The Pennsylvania State Employees Credit Union, a credit union founded in 1997 and based in Harrisburg, PA. Pennsylvania State Employees Credit Union Savings Share Account is available in 50 states (and Washington, DC).

• Higher than average APY. Pennsylvania State Employees Credit Union Savings Share Account has an annual percentage yield of up to 0.05%, which is higher than the national average interest rate on savings accounts.
• $0 monthly fee. This account does not charge a monthly Service Charge.
• Small minimum initial deposit. You only need $5 to open an account.
• No ATM fees. Pennsylvania State Employees Credit Union Savings Share Account does not charge fees on ATM transactions.
• ATM fee reimbursements. This account will reimburse you for ATM fees (see terms and conditions for details).

Pros	Cons
Available in all 50 states. Interest-yielding account. Deposits are insured by the NCUA (up to $250K). Access to physical branches. No charge on incoming domestic or international wire transfers.	No signup bonus. Does not come with a debit card Not FDIC-insured. No ATM access to savings.

Are savings accounts from The Pennsylvania State Employees Credit Union federally insured?

Yes, your The Pennsylvania State Employees Credit Union savings accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

Does The Pennsylvania State Employees Credit Union offer a signup bonus?

PSECU savings account doesn't offer a signup bonus.

What is the minimum initial deposit for PSECU savings account?

The minimum deposit to open a PSECU savings account is $5.

Pennsylvania State Employees Credit Union Savings Share Account Minimums

Description
Minimum Opening Deposit	Starting at $5
Minimum Required Balance	$5

What APY does The Pennsylvania State Employees Credit Union offer?

PSECU savings account offers an APY of 0.05% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does PSECU savings account charge?

PSECU savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

• Outgoing domestic bank transfers come with a $10 fee.
• PSECU savings account charges $5 every time you request a paper statement.

What features and perks does PSECU savings account offer?

This savings account includes the following features:

• ATM reimbursement - This account provides ATM access and will reimburse you for the ATM fees charged by other networks.
• Fraud monitoring - PSECU savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
• Mobile Banking Services - PSECU savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
• Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to PSECU savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.