The University of Pennsylvania Student Federal Credit Union (SFCU) is an approximately $7 million credit union that is completely run by Penn students of all backgrounds. It is the first and only student-run credit union in the Ivy League, serving Penn students, alumni, and families since its founding in 1987. For over 33 years, we have been providing the larger Penn community with secure, efficient, and convenient financial services.
The SFCU provides the opportunity to gain unprecedented, real-world experience and to join a tight-knit community of over 100 employees. As a professional financial services institution, the SFCU helps students develop important professional skills applicable to all fields and career paths.
We know that it is easy to feel intimidated and lost in a large club, so we are constantly organizing social events to build community, such as game nights, cohort socials, and semesterly semi-formals (pre-COVID, of course). As a new member of the SFCU, you will be sorted into a cohort, where you will have the opportunity to form closer connections with your fellow tellers and club leaders. You will also be matched with a current employee through our mentor-mentee program.
The SFCU is composed of 4 core committees and 6 non-core committees, which you can join after your first semester as a teller.
- Credit: The Credit Committee deals with the lending side of the SFCU by underwriting and disbursing unsecured loans, deferred loans, auto loans, and credit builders to members.
- General Ledger: The General Ledger Committee ensures that the SFCU internal accounting matches the external accounting and processes transfers and exceptions.
- Operations: The Operations Committee handles the day-to-day functions of the SFCU, such as resolving debit card issues, communicating with clients, and implementing new services.
- Supervisory: The Supervisory Committee ensures that the SFCU is complying with federal policy, conducts audits, and manages risk.
- Human Resources: The Human Resources Committee is dedicated to building community and ensuring employee well-being. We organize social events, check-ins with current employees, and are heavily involved in the teller recruitment process.
- Information Systems: The Information Systems Committee maintains the website, enhances the online banking experience, and troubleshoots any difficulties that members encounter. Some projects that we work on include website redesign and customer analytics.
- Internal Controls: The Internal Controls Committee conducts reconciliations and functions as an additional check on SFCU activities.
- Investments: The Investments Committee manages the $7 million portfolio and focuses on fixed income investing. We analyze the current market trends, research securities, and share macroeconomic updates with members.
- Marketing: The Marketing Committee creates all promotional materials for the SFCU that appear on social media and through email. We also develop partnerships with businesses in the University City and Philadelphia area, such as The Radian, Ben & Jerry’s, and La Tao Hotpot to provide discounts to our members.
- Strategic Initiatives: The Strategic Initiatives Group handles any projects that employees believe would benefit the SFCU as a whole.
TELLER ROTATIONAL PROGRAM
New members of the SFCU will participate in the Teller Experience, an 8-week rotational program through the 4 core committees. During this program, you will get to shadow current SFCU employees, acquire in-depth financial knowledge, and have the opportunity to engage in case studies and learn about investments, loan underwriting, regulatory compliance, and more. You will also participate in a Teller Project to put forth new initiatives for the credit union. Past projects have included developing a secured credit card, creating new account types, and increasing outreach to alumni.