PSECU Pledges $150,000 Donation to The PASSHE Foundation

PSECU’s Donation Will Aid Pennsylvania Students Through Scholarships, Work-Based Learning Initiatives, and Emergency Aid

Harrisburg, PA – January 29, 2024 – PSECU, Pennsylvania’s digital-first credit union, has committed to a $150,000 donation to The Pennsylvania State System of Higher Education (PASSHE) Foundation over the next three years to enhance educational opportunities for college students across the Commonwealth. This partnership reflects PSECU’s dedication to empowering Pennsylvania’s future leaders through meaningful investments in education.

The multi-year gift will support a range of The PASSHE Foundation’s programs aimed at improving higher education student success and workforce readiness, including:

• Work-Based Learning Investments: $15,000 annually to enable the PASSHE Foundation to fund faculty grants to integrate real-world case studies and employer collaborations into academic curricula.
• College Scholarships: $25,000 annually for two scholarship programs: 1) $20,000 via the PSECU Credit Union Industry Scholarship, which awards 20 students $1,000 each, and 2)$5,000 via the PSECU Study Abroad Scholarship, which enables low-income students to benefit from immersive experiences in other countries. Additionally, the PSECU Endowed Scholarship historically generates $5,000 through investment returns, dispersed to up to five eligible students ($1,000 each).
• Emergency Student Aid: $5,000 annually to assist students facing financial challenges that may impact their ability to continue their education.
• Unrestricted Contributions: $5,000 annually to advance The PASSHE Foundation’s mission of supporting student success and operational excellence across the State System.

“At PSECU, we believe that supporting higher education is investing in Pennsylvania’s future,” said George Rudolph, President & CEO of PSECU. “This partnership with The PASSHE Foundation allows us to support students on multiple fronts—from scholarships to real-world learning opportunities—ensuring they are prepared for their careers and can focus on achieving their academic, professional, and personal goals.”

The Work-Based Learning investments, a cornerstone of this partnership, will empower faculty to collaborate with industry partners and create work-based learning opportunities that directly align with employer needs. The initiative ensures students gain critical professional experience early in their college careers. In addition to supporting academic innovation, PSECU’s scholarships and emergency aid programs aim to reduce financial stress, help students complete their education, and strengthen Pennsylvania’s workforce.

"With this generous contribution, The PASSHE Foundation can expand opportunities for students and faculty while addressing the financial challenges that often hinder success," said Shelley Scherer, PASSHE Foundation President & CEO. "This partnership demonstrates the power of collaboration between higher education and community-focused organizations like PSECU. We are so grateful for this financial support."

Students can apply for the scholarships beginning in June 2025. Students interested in emergency aid funded by this partnership can find more information and eligibility requirements by contacting their university’s financial aid office.

For more information about PSECU and its commitment to giving back, visit www.psecu.com.

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About PSECU

Opened in 1934, PSECU was founded by 22 ordinary people who pooled $90 and made an extraordinary commitment to each other: To create a financial institution where collective resources benefit all members. Today, PSECU continues that legacy as Pennsylvania’s digital-first credit union, with $8.7 billion in assets, an economic impact of over $790 million, more than 595,000 members, and a convenient anytime, anywhere banking model. For more information about PSECU, visit psecu.com. PSECU has been recognized as an Editor’s Best Credit Union in PA by CardRates.com, a Best Bank by Money.com, and one of America’s Best Regional Credit Unions by Newsweek. View its Year In Review to learn how PSECU contributes to the greater good.

About PASSHE Foundation

The PASSHE Foundation works as a trusted partner to advance the goals of the Board of Governors and PASSHE with initiatives that include: directly supporting students with scholarships and emergency grants and collaborating with the PASSHE Chancellor’s Office on innovations that advance student success and support university excellence. Building on the State System’s transformational investments to meet Pennsylvania’s workforce shortages, the PASSHE Foundation is raising funds and building employer partnerships to support a wide range of initiatives that serve learners of all ages and connect learners to jobs.

About PASSHE

Pennsylvania’s State System of Higher Education (PASSHE) is the public university system of the commonwealth with a mission to provide a high-quality education at the lowest possible cost to students. The State System annually confers more than 20,000 degrees and has more than 800,000 living alumni, most of whom live in Pennsylvania. The State System universities are Cheyney, Commonwealth (Bloomsburg, Lock Haven and Mansfield), East Stroudsburg, Indiana, Kutztown, Millersville, PennWest (California, Clarion and Edinboro), Shippensburg, Slippery Rock and West Chester universities of Pennsylvania.