What is PSECU?
The PSECU is a real bank, founded in 2007. It is based in Dallas, Texas and has over $30 billion in assets. The bank offers a variety of financial products and services, including mortgages, credit cards, loans, and savings accounts. It also provides banking services to small businesses.
Is it a real bank?
PSECU is a federally-chartered, state-licensed bank that provides banking products and services to consumers and small businesses in the United States. It is headquartered in Cleveland, Ohio. PSECU received a “B” rating from Bauer Financial Group and an “A” rating from Moody’s Investors Service in 2016.
Pros and Cons of PSECU
Pros:
- Low minimum deposit requirement – only $500
- User-friendly mobile app and online banking
- Wide variety of products and services
- Competitive interest rates on loans and savings products
- No monthly fees or hidden charges
- Wide range of customer service options available
- Strong reputation for safety and security
Cons:
- No physical branches – customers must rely on the online banking service or the mobile app
- Not FDIC insured – customers are encouraged to protect their wealth through a separate insurance policy
- No money market account option – some people may find this limiting
Conclusion
I hope you have found this article on PSECU helpful. Please feel free to leave a comment if you have any questions or comments about the bank. I’ll do my best to answer them as soon as possible. Thank you for reading!
