A Message from Our President & CEO: 2021 Year in Review

Despite continued challenges associated with the COVID-19 pandemic, PSECU remained focused on providing the best possible support and services for our members. Thanks to your continued support and patronage, 2021 was another great year for your Credit Union. Once again, our digital-first model continued to serve our members’ financial needs well despite the social challenges.

As we review 2021, I’m proud to share that we reached two important milestones: Passing the 500,000-member mark and bringing our total assets to more than $8 billion.

We have even more good news to share.

In the latter half of 2021, we completed the transition to our new digital banking platform. The updated platform strengthens our digital-first model by placing both our mobile and desktop applications on one common, more modern architecture. This update enables us to implement future enhancements and features more easily, while continuing to allow you to manage your finances anytime, anywhere. We know that the transition had its fair share of challenges, but with most of those now behind us, we look forward to the many new places where we can take the platform in 2022 and beyond.

Recognizing your needs extend beyond standard banking products, we continued to diversify the member product offerings. We launched PSECU Protect, LLC*, which offers you access to a host of insurance products to provide you with peace of mind, without breaking the bank. PSECU Financial Services (PFS)**, which works with credit union members to handle financial planning needs, underwent a change of administration, ensuring you have access to the best products available.

In 2021, we also hit notable milestones in our corporate social responsibility (CSR) efforts. We marked the 25^th anniversary of the PSECU Scholarship Program, a long-standing tradition honoring one of our four pillars of corporate social responsibility - education. Awarded to graduating high school seniors to help reduce the financial burden of pursuing post-secondary education, winners are selected based on their academic achievement, extracurricular involvement, and critical thinking and writing skills. Since 1997, we have awarded nearly three-quarters of a million dollars to 149 students. I’m particularly proud of this program as it has helped young students find opportunity, reach their goals, and prepare for the future.

Additionally, we held our 5^th annual PSECU Chips In Golf Outing. This event raised a record $55,000 for Feeding Pennsylvania, one of our four pillar CSR partners. I’m grateful to our sponsors and golfers for helping us raise such a significant sum for an incredibly worthwhile cause, and to all our volunteers who helped make this our most successful golf outing yet!

In the spirit of supporting our community, we also enhanced our financial wellness outreach by launching our WalletWorks Podcast, in which we discuss and explore a variety of financial wellness topics. Additionally, we augmented our Resource Center with more tools and videos to help you gain the financial skills and knowledge you need to prosper.

We identified an opportunity in our partnerships with institutions of higher learning and our University Development arm kicked off a new campus ambassador program. This pairs current college students with our university-based Financial Education Centers to help create a continuum of access for students to our services and helps to increase financial wellness across our partner school campuses.

Finally, I led the charge in a strategic organizational realignment. Our new, more focused organizational structure as a smaller group of seven executive leaders enables us to optimize our ability to continue offering best-in-class service and products to you, our valued members.

All of these accomplishments were, of course, celebrated internally, but it’s always great to have the hard work of the PSECU team recognized formally, as well. In 2021, we were fortunate to receive three important awards.

• Forbes Best-in-State Credit Union - For the third year in a row we have been recognized with this designation for putting our members first, offering sophisticated digital banking options, competitive products and interest rates, as well as for the many other unique ways that credit unions do business.

• PA Business Central Top 100 Organization - The organizations chosen for this list are all leaders in their respective fields and are consistently bringing new technology and innovation to their service areas.

• American Heart Association 2021 Healthy Workplace - We achieved national Gold Level recognition for taking significant steps to build a culture of health and well-being for our workforce.

2021 was a year jam-packed with accomplishments, but none continues to be as rewarding as the success and prosperity of our members. Thank you, as always, for your continued support of PSECU.

Best wishes,

George W. Rudolph

PSECU President, CEO, & Fellow Member

* Not all products, coverages and discounts are available in every state. Restrictions, exclusions, limits and conditions apply.

Insurance products are offered by PSECU Protect, LLC an affiliate of Pennsylvania State Employees Credit Union (PSECU). Available insurance products are not deposits of Pennsylvania State Employees Credit Union and are not protected by any type of deposit insurance, are not obligations of or guaranteed by Pennsylvania State Employees Credit Union or its affiliates, and may be subject to risk. Insurance products are not insured or guaranteed by the National Credit Union Administration (NCUA) or any other agency of the United States. Any insurance required as a condition of the extension of credit by Pennsylvania State Employees Credit Union need not be purchased from our Agency, PSECU Protect, LLC, but may, without affecting the approval of the application for an extension of credit, be purchased from an agent or insurance company of the customer's choice.

** Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Pennsylvania State Employees Credit Union (PSECU) and PSECU Financial Services (PFS) are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using PFS, and are employees of LPL. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of PSECU or PFS. PSECU has contracted with LPL to make non-deposit investment products and services available to credit union members. Securities and insurance offered through LPL or its affiliates are: