The PSE Credit Union, is a non-profit organization committed to providing financial solutions to its members.
Its membership is open to anyone who works and lives in Medina County or Cuyahoga.
History and Establishment
Created in 1955 by the Parma School Employees in Ohio, America, PSE Credit Union started out as a
state chartered credit union with only two hundred thirty-six members and five thousand dollars in assets. Over the
years, it has grown to over twenty tree thousand members, with an estimate of one hundred million dollars in total
assets. It also has extended its services to the cities of North Royalton, Parma, Strongsville, and Seven Hills. As
a credit union, it is committed to provide financial services to its member-owners. It is a non-profit
organization, aimed at supplying loans and savings at better rates compared to commercial banks. Through their
programs, members achieve lower rates in paying their loans, and higher returns in their savings.
Products and Services
PSE Credit Union is dedicated to providing convenient and high quality products to its constituents. Its Regular
Savings allows a member to open an account for just five dollars, and requires no minimum balance to earn interest.
Certificates allow its members to choose a term that caters to their financial goals, and with interest paid
monthly or quarterly. Christmas Club allows members to save for their expenses during the holidays. Each year on
November 1, the member's savings are directly deposited in their regular savings account, and the Board sets rates
a month prior to the scheduled payment. Through the Individual Retirement Accounts (IRAs), members can plan their
future by choosing a fixed or variable rate account. Through the Special Savings, members can start saving for
their dream purchase; which can be a dream vacation or a brand new computer system. Savings can be automatically
debited from payroll and directly deposited into the member's Special Savings Account.
In terms of services, the PSE Credit Union provides PAL (Phone Access Line). This system allows members to access
their accounts twenty-four hours a day via telephone. This audio response system ultimately offers the convenience
of accomplishing financial transactions without leaving one's home. Union members can access their accounts
anywhere at any time of the day through their ATM/Debit Cards from any ATM with the PLUS, Discover/Novus, American
Express or Visa logo. Payroll Deductions on the other hand allow members to have a specific portion of their
payroll deposited to a certain account. This service is available to members whose companies are participants in
the Federal Reserve ACH Program. Wire transfer is another PSE Credit Union service that provides ease and
convenience in electronically transferring funds in between financial institutions.
Source: Credit Cards For People With Bad Credit Rating
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