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LAST UPDATED: May 26th, 2023

In 1933, Pennsylvania State Employees Credit Union (PSECU) opened its doors for business. Over the last 80-plus years, the company has become one of the strongest in the region. Based in the capital city of Harrisburg, PSECU currently has more than $4 billion in assets and serves more than 400,000 customers. The credit union offers an array of loans to customers, including personal loans, auto loans, home loans, credit cards, student loans and debt consolidation. This wide range of lending options is a clear distinguishing characteristic of the credit union, as are its many online educational tools.

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The Good

  • Options, Options, Options
  • Straightforward Services
  • Business Loans

Options, Options, Options

It's so convenient to belong to a credit union that offers so many different types of loans. By doing this, the credit union can attract a large number of customers. And chances are, you have need of more than one type of loan. If this is the case, you're in luck because PSECU has personal loans, student loans, auto loans, home loans and more. We love that there are products and offerings for just about every type of customer. The overwhelming majority of people everywhere will need to borrow money at one point or another, and it's nice to see an institution that can meet the needs of any situation.

Straightforward Services

Personal loans are a popular option, and if you're in this boat, it's nice to know that PSECU has clear-cut requirements for their personal loans. For example, the credit union has established guidelines for repaying personal loans. The monthly payments are based on the amount you borrow, and they are set no matter what your rate is. This is helpful for budgeting and planning purposes.

Business Loans

The credit union also has SBA loans and other loans for business such as vehicle loans and equipment loans. Think of PSECU as a one-stop shop for everything a customer and business owner would need for his or her financial security.


The Bad

  • High Personal Loan Rates
  • Improvements to Customer Service
  • Better Communication

High Personal Loan Rates 

The credit union refers to its personal loans as signature loans. Rates on these types of loans are usually a little on the high side, but with PSECU they start at 10.9 percent. Other lenders start their personal loan rates below 6 percent. Sure, these can rise with customers who have poor credit, but customers with good credit should be able to get a lower rate than 10.9 percent, but at PSECU, that's what you're stuck with. It concerns us that PSECU has higher rates on personal loans and that customer service doesn't have the best communication skills. When you're dealing with people's money, it's critical to have a mutual understanding, but this is all too often not the case with PSECU.

Improvements to Customer Service

Customers complain about various issues with the credit union's customer service, or lack thereof. One frequent problem expressed is that customer service agents are not available 24/7 to take calls and resolve issues. Also, the credit union will lock accounts for forgotten passwords (a common practice) but makes it difficult to unlock the account.

Better Communication

Another common issue customers have is that the credit union will sometimes switch payment methods to auto pay without telling the customer. Customers' biggest complaints also include some inconvenience in using the online system, which seems to be a longer, more cumbersome application process than other lenders have.

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The Bottom Line

PSECU bank has been in business for more than eight decades, and its experience shows. The credit union has an immense list of borrowing options that would appeal to virtually any customers. PSECU is a definite recommend for anyone needing one or more types of loans. For the most, the credit union's rates are competitive. However, if you are looking solely for a personal loan, and if you have good credit, you might want to shop around for alternative lenders because you're likely to find someone with more favorable rates. Overall, however, PSECU is a tremendous lender to do business with, and you should have few, if any, issues doing business with the company.

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Joseph Zajac Hazleton, PA

I had obtained a personal loan with a private bank in the area. It was a fair deal with very nice people. I was then able to join the Pennsylvania State Employees Credit Union and found that they offered personal loans as well. When I called and talked about it the staff work extremely nice and very helpful and they offered rates that were significantly better than a private institution (not credit union). They also offered great flexibility in the length of the loan as well as the amount of the loan. Thanks to PSECU I took the personal loan with them and paid off the personal loan that I had taken with the private institution, saving me money and having everything in one bank in my case. I could not be happier with the arrangement PSECU wholeheartedly. If you're considering a personal loan I would strongly recommend PSECU or research credit union and do your own comparison to private financial institutions!

1 year ago


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Kristin Melrose, MA

My fiance at the time and I used PSECU for our auto loans and had a pleasant experience all around working with them. Customer service, rates, repayment schedule, ease in changing anything etc.. if I was still local to Pennsylvania I would definitely use them again.

11 months ago