| Type | Credit Union |
|---|---|
| Industry | Financial Services |
| Founded | University of Pennsylvania, 1987 |
| Headquarters | Philadelphia, Pennsylvania |
| Products | Savings; Checking; Consumer Loans; Debit Cards |
| Website | www.upennsfcu.org |
The University of Pennsylvania Student Federal Credit Union (UPSFCU) (or SFCU) is a non-profit, student-run credit union located in Philadelphia, Pennsylvania, chartered and regulated under the authority of the National Credit Union Administration (NCUA). UPSFCU is the first and only Credit Union in the Ivy League and exclusively serves the University of Pennsylvania community.[1] With an employee base of 75 students, UPSFCU has managed to grow its membership over 1,500 accounts and maintain an asset level of over $5.0 million.
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Founded in 1987 by three Wharton MBA students and formally chartered by the National Credit Union Administration, the University of Pennsylvania Students Federal Credit Union (now the University of Pennsylvania Student Federal Credit Union or UPSFCU) has been providing Penn students with secure, efficient, and convenient financial services for over 20 years. [2]For added convenience, UPSFCU has its main branch on the University of Pennsylvania campus, in addition to a second branch on the second floor of the Penn Bookstore.[3] After over 20 years in operation, the UPSFCU continues to make members its number one priority, changing its services with the times [4]to provide students, alumni, and workers of the University of Pennsylvania with the best products in the region. In 2011, the UPSFCU will be introducing new programs that will aim to promote alumni and future alumni interests in continuing their membership long after graduation.
UPSFCU's membership guidelines are recorded by the National Credit Union Administration. Like all credit unions, membership is limited to individuals sharing a common affiliation or bond as defined in their charters. Membership in UPSFCU is limited to:
UPSFCU provides typical account services offered by most financial institutions, such as savings accounts, checking accounts, and loans. Savings accounts are known as Shares accounts to reflect that a member's initial savings deposit ($5) directly represents his or her share of ownership in the UPSFCU. The interest on UPSFCU's Signature Checking accounts are the highest in the region.
UPSFCU is part of the Allpoint ATM network, an interbank network connecting ATMs in all 50 states. The Allpoint network has over 40,000 ATMs in the United States and internationally. UPSFCU members have access to any of these ATMs free of charge, in addition to three UPSFCU ATMs located on campus. The UPSFCU also allows members to access PNC ATMs for free by linking their PennCard to their accounts.[5]
UPSFCU offers members the option of receiving and sending domestic and international wires. All incoming wires are free of charge.[6]
UPSFCU offers free secure online banking, eStatements, and unlimited Direct Deposit to its members. In addition, UPSFCU also allows its members to pay their bills electronically using Bill Pay through online banking.[7]
UPSFCU provides members the convenience of purchasing United States Postal Service (USPS) Postage Stamps and South Eastern Transportation Authority (SEPTA) Tokens at its two branches.
UPSFCU takes part in philanthropic events in the University of Pennsylvania community.
Several times a year, UPSFCU comes together to volunteer at Hillel's Soup Kitchen, open every Sunday to community guests and volunteers.
UPSFCU is a participant in Rebuilding Together Philadelphia's annual Dodgeball Tournament.
UPSFCU executives lead a team at the annual Relay For Life at the University of Pennsylvania. This year, the team has successfully raised approximately $150 for the American Cancer Society's cancer research initiatives. The team page can be found at http://main.acsevents.org/site/TR/RelayForLife/RFLFY11PA/633532429?pg=team&fr_id=30872&team_id=859442.