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PSECU (also known as Pennsylvania State Employees Credit Union) is a state-chartered credit union headquartered in Harrisburg, Pennsylvania. [1] PSECU is a not-for-profit financial entity [ 2 ] that serves more than 480,000 members and manages over $7.5 billion in assets.
The National Credit Union Administration is the U.S. independent federal agency that supervises and charters federal credit unions. As of December 31, 2022, there were 4,760 federally insured credit unions in the United States with 135.3 million members.
PSCU announced in February 2013 that the company would be partnered with MasterCard to make the MasterPass technology available to the members of the credit union. [11] The company chose PricewaterhouseCoopers in April 2013 to serve as an external independent certified public accounting firm for auditing and tax services for the company. [12]
The first U.S. state to permit collective bargaining by public employees was Wisconsin, in 1959. [15] Collective bargaining is now permitted in three fourths of U.S. states. [16] By the 1960s and 1970s public-sector unions expanded rapidly to cover teachers, clerks, firemen, police, prison guards and others.
As of March 2020, the largest American credit union was Navy Federal Credit Union, serving U.S. Department of Defense employees, contractors, and families of servicepeople, with over $125 billion in assets and over 9.1 million members. [5] Total credit union assets in the U.S. reached $1 trillion as of March 2012. [6]
A branch of the Coastal Federal Credit Union in Raleigh, North Carolina. A credit union is a member-owned nonprofit cooperative financial institution.They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (cheque accounts), credit cards, credit, share term certificates (certificates of deposit), and online banking.
The credit union began with $437 in assets and 17 members and was first operated from the basement of Raleigh's Agriculture Building. [6] By 1960, the credit union grew to serve over 70,000 members and had assets of almost $25 million. [7] By 2022, State Employees' Credit Union had grown to over $53.1 Billion in assets and 2.7 million members.
State Employees Credit Union of Maryland (also known as SECU of Maryland or SECU Maryland or SECU MD) is a state-chartered credit union headquartered in Linthicum, Maryland. [3] It is the largest federally-insured credit union in the state [ 4 ] [ 5 ] [ 6 ] and is regulated under the authority of The Office of the Commissioner of Financial ...