Rate Reductions Lead To Surging Loan Volume At PSECU

September 2011
Credit Union Journal;9/12/2011, Vol. 15 Issue 35, p22
Trade Publication
The article focuses on the cuts in automobile and home equity rates at Pennsylvania State Employees Credit Union (PSECU) which resulted to the rise in loan volume. PSECU's chief executive officer (CEO) Greg Smith says that the said rate changes offered 2,800 to 2,900 loans per week with dollar totals in the 60-million dollars range by June 2011. However, Smith views that the rate cuts will not offer a significant effect because the increased loan volume will make up for lower margins.


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