Psi Chi is the International Honor Society in Psychology, founded in 1929 for the purposes of encouraging, stimulating, & maintaining excellence in scholarship. Psi Chi is the International Honor Society in Psychology, founded in 1929 for the purposes of encouraging, stimulating, and maintaining excellence in scholarship, and advancing the science of psychology. Membership is open to graduate and undergraduate men and women who are making the study of psychology one of their major interests, and who meet the minimum qualifications. Psi Chi is a member of the Association of College Honor Societies and is an affiliate of the American Psychological Association and the American Psychological Society.