In 1934, PSECU started with 22 founding state employees who needed financial backing to give their families the best foot forward. By collaborating, these families were able to help one another. Today, the credit union has over 450,000 members beyond simply state employees. 

One of the financial products offered is Certificates of Deposit. Savers can watch their money growth farther with this product, but they have to be able to let the money set in the CD for a period of time. 

Benefits of opening a CD include:

  • Terms vary
  • No fees
  • All funds insured by the NCUA for up to $250,000
  • Dividend rates are fixed and guaranteed
  • Dividends accrue daily and compound monthly
  • Guaranteed rate of return
  • All rates can change at any time
  • Automatic renewal
  • Automatic deposit an option
  • Minimum daily balance of $500 required

A 3-month CD will earn an APY of 0.25% with an interest rate of 0.25%.

A 6-month CD will earn an APY of 0.35% with an interest rate of 0.35%.

A 9-month CD will earn an APY of 0.45% with an interest rate of 0.45%.

A 12-month CD will earn an APY of 0.55% with an interest rate of 0.55%.

An 18-month CD will earn an APY of 0.70% with an interest rate of 0.70%.

A 24-month CD will earn an APY of 0.80% with an interest rate of 0.80%.

A 36-month CD will earn an APY of 0.90% with an interest rate of 0.90%.

A 48-month CD will earn an APY of 1.00% with an interest rate of 1.00%.

A 60-month CD will earn an APY of 1.10% with an interest rate of 1.09%.

While you must be a member to take out a CD with PSECU, it’s not difficult to become one. If you live with a member, work for the state, study at one of the participating universities, or meet one of the many other qualifying markers, you’re eligible to join. If you’re not, you can become an affiliate of the Pennsylvania Recreation and Park Society to become eligible to become a credit union member.