PSECU to give out free cap and gown vouchers

Photo: Emma Gering
Penny Przybylski, business adviser at Edinboro University stands in front of the Edinboro University PSECU.
Financial entities perfect PSECU

By Emma Gering
Staff Writer/Spectator

If you were to ask a random pedestrian on the street what the difference between a Federal Credit Union and a bank were, chances are they likely couldn’t identify the difference. Penny Przybylski of Edinboro University’s division of Pennsylvania State Employees Credit Union (PSECU.) can clearly describe what the difference between the two is.

Przybylski carefully explained the differences between the two financial entities, in a way that would compensate for any missed finance courses in high school. Here’s what is important to know about banks according to Przybylski: they are owned by stock holders, they are for profit, they charge fees for ATM transactions that are not made from the same company an individual invests in, they are regulated by the Federal Deposit Insurance Corporation (FDIC), and they are non-exempt from most state and federal tax.

Przbylski compared banks comprised of the previous information to credit unions.  According to Przbylski, credit unions are owned by members, they are non-profit, deposits in a credit union buy shares in the company, there is no service charge fee, credit unions are regulated by the National Credit Union Administration (NCUA) and they are exempt from state tax. This in turn allows credit unions to pass on reportedly better rates to members.

According to Przybylski, credit unions make it possible for Edinboro’s bank to offer special deals for the students patrons.  This semester, PSECU is offering a voucher for a free cap, gown and tassel to all Edinboro students graduating in December. Students must be a current PSECU member, or apply for PSECU membership. To become a member, students can sign-up at the PSECU booth during the Edinboro University Graduation Fair on Tuesday, and Wednesday, Nov. 18 and 19, from 12 p.m.  to 6 p.m. Students will then receive a voucher which can be cashed in at the campus book store booth during the graduation fair to receive the cap and gown.  Students will be expected to show valid identification and a PSECU debit or credit card. After that, you’ve saved yourself an estimated value of $24.

The PSECU branch at Edinboro has sponsored many school events this year and has been an accessible resource for our Edinboro community. Przbylski said that PSECU would love to take on new members and help your graduation commence and conclude as smoothly as possible.  The bank is open from 10 a.m. to 4 p.m. Monday through Friday.

Emma Gering is the staff writer for The Spectator. She can be reached by eupnews.spectator@gmail.com