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Public Employees Credit Union: 10,000+ Members Strong

Introduction

Public employees credit unions (PECUs) are financial cooperatives that provide banking and financial services to public employees, retirees, and their families. PECUs are not-for-profit organizations that are owned and controlled by their members. They typically offer a variety of financial products and services, including checking and savings accounts, loans, credit cards, and investment services.

PECUs are often seen as a good option for public employees because they offer competitive rates on loans and deposits, and they often provide financial education and counseling services. PECUS also play an important role in supporting local communities by providing financial assistance to small businesses and non-profit organizations.

The Benefits of PECUs

There are many benefits to joining a PECU, including:

public employees credit union

Competitive rates on loans and deposits: PECUs typically offer competitive rates on loans and deposits, which can save members money on interest payments.
Financial education and counseling services: PECUs often offer financial education and counseling services to help members manage their finances.
Support for local communities: PECUs play an important role in supporting local communities by providing financial assistance to small businesses and non-profit organizations.

Who is Eligible to Join a PECU?

Eligibility requirements for PECUs vary from institution to institution. However, most PECUs require that members be public employees, retirees, or family members of public employees.

How to Join a PECU

Joining a PECU is easy. Simply visit the PECU's website or contact a local branch to learn more about membership requirements and how to apply.

Public Employees Credit Union: 10,000+ Members Strong

The History of PECUs

The first PECU was founded in 1910 in Dayton, Ohio. Since then, PECUs have grown in popularity and now serve millions of public employees across the United States.

Introduction

The Future of PECUs

PECUs are facing a number of challenges in the future, including the rising cost of regulation and the increasing competition from large banks. However, PECUs are well-positioned to meet these challenges and continue to provide valuable financial services to public employees.

Table 1: Comparison of PECUs and Banks

Feature	PECU	Bank
Ownership	Member-owned	Shareholder-owned
Profits	Reinvested in the cooperative	Distributed to shareholders
Interest rates	Competitive	May be higher
Fees	Typically lower	May be higher
Customer service	Personalized	May be less personalized

Table 2: Top 10 PECUs by Assets

Rank	PECU	Assets (in billions)
1	Navy Federal Credit Union	$144.5
2	PenFed Credit Union	$36.5
3	Alliant Credit Union	$15.8
4	Educational Employees Credit Union	$14.7
5	Patelco Credit Union	$13.7
6	America First Credit Union	$13.4
7	Golden 1 Credit Union	$13.2
8	State Employees' Credit Union of North Carolina	$12.9
9	Wright-Patt Credit Union	$12.4
10	First Tech Federal Credit Union	$12.3

Table 3: PECU Membership Trends

Year	Number of PECU members (in millions)
1990	3.6
2000	7.2
2010	11.4
2020	15.8

Table 4: PECU Loan Originations

Year	Number of PECU loans originated (in millions)
2010	$190.4
2015	$240.6
2020	$290.8

Conclusion

PECUs are a valuable resource for public employees and their families. They offer competitive rates on loans and deposits, financial education and counseling services, and support for local communities. If you are a public employee, you should consider joining a PECU today.