Mortgage Review: PSECU (Pennsylvania State Employees Credit Union)

July 23, 2010 No Comments »

PSECU or Pennsylvania State Employees Credit Union has some fairly decent mortgage rate offers today. If you live in Pennsylvania and are in the market for a home loan or looking to refinance your existing mortgage you may want to stop by one of their local branches.

In general credit unions can get you slightly better rates than large, national banks due to the fact that they are member-owned, not-for-profit institutions which can pass along their profits to their members in the form of lower loan rates (or higher savings rates). Not convinced a credit union is right for you? Check out our list of 5 things to consider before joining a credit union.

About PSECU:

PSECU is the largest credit union in Pennslyvania. They have been in business for roughly 75 years and have branch locations and ATM’s throughout Pennslyvania and the surrounding areas. They have roughly 350,000 members and control almost $3.3 billion in assets.

Current Mortgage Rates offered through PSECU:

- 15 year fixed mortgage with 0 points: APR as low as 4.583% depending on credit history.

- 15 year fixed mortgage with 1 points: APR as low as 4.483% depending on credit history.

- 15 year fixed mortgage with 2 points: APR as low as 4.381% depending on credit history.

- 15 year fixed mortgage with 3 points: APR as low as 4.280% depending on credit history.

- 30 year fixed mortgage with 0 points: APR as low as 5.114% depending on credit history.

- 30 year fixed mortgage with 1 points: APR as low as 4.947% depending on credit history.

- 30 year fixed mortgage with 2 points: APR as low as 4.779% depending on credit history.

- 30 year fixed mortgage with 3 points: APR as low as 4.681% depending on credit history.

These rates are accurate as of July, 23, 2010. Interest rates are time-sensitive in nature, if this article is out of date then these rates may no longer be available. View PSECU’s current mortgage rates here.

Consumer Complaints and Reviews:

The BBB (Better Business Bureau) has given Pennsylvania State Employees Credit Union a rating of “A+” despite ten complaints filed against the institution. Of the ten complaints, nine had to do with problems relating to the product or service and one had to do with billing or collection issues. All ten of these complaints have been closed and resolved according the BBB.

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