Be Safer With Our Credit Union,
Especially When Times Are Tough
PSFCU helps those members who lost employment
Thanks to the conservative lending and investment policies, as well as conscientiousness of our Members, Our Credit Union has not shared the fate of many financial institutions that have become victims of the recession. Good financial standing allows our Credit Union to reach out to those Members who lost their employment due to tough economic situation.
Loss of employment creates the necessity to find resources to cover daily expenses; often, this means having to tap into one’s savings. In many cases, the savings are invested in term shares, offering better dividends but at the same time locking the funds for a certain period of time, e.g. 6 moths. Premature withdrawal of funds from such term share results in high penalties.
To help those who lost their jobs and now have to tap into their savings invested in term shares, our Credit Union has decided to cover the cost of penalties for premature term share withdrawal without passing these penalties on to those members who find themselves in such situation.
To be eligible for this type of assistance, unemployed members of our Credit Union must notify a Branch Manager at any PSFCU location within 30 days from the loss of employment, presenting a copy of the unemployment pay stub or an official termination note from the former employer on the company letterhead.
This offer is also beneficial to those who would like to invest their money for a longer period of time and take advantage of the higher dividends on term shares. Now they can do so without worrying about paying penalties for premature withdrawals from term shares should they lose their jobs and need to use their invested savings.*
Helping our Members in need is only one of the examples which differentiate Our Credit Union from a commercial bank.
*Offer not valid within the first six days of opening the term share. Exceptions to this restriction may apply. Offer valid until further noticeGo to main navigation