From choosing where to live to deciding which jobs to apply for, you’ve got a lot on your plate as a recent college grad. While we can’t make those choices for you, we can help you with something else that may be weighing on your mind – learning about and improving your money management skills.
In case you don’t know us, we’re a digital-first credit union that provides low- or no-fee products and services, like checking accounts, auto loans, person-to-person money transfers, and free credit score service*, to more than 480,000 members across Pennsylvania and beyond. Additionally, we’re The Official Financial Services Provider of The Penn State Alumni Association.
There are many ways to maximize PSECU membership as a recent grad, and we’ve highlighted some of our favorites below. The best part? These can all be effortlessly taken with you wherever your next steps in life lead, so you have access to the financial tools and resources you need now and in the future.
1. Gain access to the financial products and services you need, without the fees.
As a recent grad, you’re likely taking on new financial responsibilities. You may be signing a lease for your first apartment, coming off your family’s cell phone plan, or figuring out how to manage your student loans.
No matter what you’re facing, we offer an easy way to manage these responsibilities with free checking and savings accounts with online and mobile access, full-service digital banking options (including text and email account alerts), and no fees to open or maintain an account.
Plus, since we’re part of a large ATM network, it’s easy to deposit or withdraw money for free, no matter where you are. Need to use your PSECU debit card, but can’t find an in-network ATM? If you use a PSECU debit card at an out-of-network ATM and get charged, we’ll rebate fees on withdrawals up to $20 per month with direct deposit, and up to $8 per month without.
2. Organize your money the way you want.
We don’t just offer free accounts. We offer you the ability to manage your money in a way that works best for you. Once you become a PSECU member, you can open different “shares” to separate the money you’re hoping to save from the money you’ll need to spend on daily expenses or bills.
Many recent grads find this works well for them, as it works like a digital version of the envelope method. Not familiar with the envelope method? It’s a budgeting technique that allocates cash to envelopes for specific purchases. This can help you stay on top of your spending by giving you a visual reminder of how much money you have set aside for a specific purpose and how much you have left.
Want one account to stash your new car savings? And a different one to pull from for your day-to-day purchases? Renaming a share is quick and easy in online banking by simply changing the description.
3. Get rewarded for using your debit card.
While some banks or credit unions reserve rewards programs for credit card users, we know many recent grads are still establishing their own credit and may not be ready to commit to a credit card. So, in addition to the credit card reward programs we offer, we also offer perks for our debit card users.
When you use your PSECU debit card, you can earn cash rewards. For eligible debit card purchases of $10 or over, you’ll earn either $.05 or $.10, based on qualifying factors.**
4. Learn about money management on your own schedule.
Checking accounts, navigating student loans, monitoring your credit, and more – as you get deeper into managing your own finances, you may feel overwhelmed. That’s where our free educational resources come in.
Whether you’re already a PSECU member or are considering joining, we have a wealth of free on-demand educational resources available to help you understand not only our products and services, but also money management in general.
- Our Online Learning Center hosts more than 30 learning modules that are designed to help you learn about managing money. Each module is designed to take no longer than five to seven minutes to complete, and the content is available in both English and Spanish.
- Tips & Tools are available on our website 24/7 so that you can get the information you need at the time that works for you. Sample topics include Repaying Student Loans, which is great for recent grads who are preparing to enter repayment, and Finances and Future Employment, which helps recent grads determine how finances will impact searching for a job and beginning their career.
5. Belong to more.
When you bank with us, you’re not just choosing a financial institution that will help you achieve more, but also one that gives back to the communities in which you live, learn, and play.
Credit unions have a long-standing philosophy of people helping people. You’ll find that help not just through the resources we provide to help you manage your money, but also in the ways that we support non-profit organizations. For example, we join Penn State in their commitment to improving lives by supporting Coaches vs Cancer®, the Sokolov-Miller Family Financial and Life Skills Center, the Paterno Family Beaver Stadium Run, and more.
What’s even better is that, due to our partnership, membership with us benefits both you and The Penn State Alumni Association, helping you give back to your alma mater.
*PSECU is not a credit reporting agency. Members must have PSECU checking or a PSECU loan to be eligible for this service. Joint owners are not eligible.
**You can earn $0.10 cash rewards on eligible purchases of $10 or over with a PSECU checking account and one or more qualifying monthly direct deposit(s) totaling at least $500. You can earn $0.05 cash rewards on eligible purchases of $10 or over for accounts with a PSECU checking account. Certain restrictions may apply. See the Visa® Debit Card Rewards Program Terms and Conditions for full details.