Dedicated to Deposits: Deals, Data, and Discussion

4.07% 12-Month Special CD at Patelco Credit Union

POSTED ON BY

Patelco Credit Union
Update 5/10/08: This 12-month special CD has ended.

Patelco Credit Union is offering a special 4.07% APY 12-month certificate. The minimum deposit is $1,000, and new money is required. It's also available as an IRA with a $500 minimum opening deposit.

You can open this CD online. When I joined Patelco in January, I was able to apply online and open two CDs during the session. I described the details in this January post. I have some more details about Patelco CDs and potential fees in this post. As I mentioned in that post, I did not receive a hard credit pull when I applied for membership or for the CDs.

You may also want to take advantage of other good Patelco deals such as a $50 checking promotion and a new-member 7% 12-month CD ($1K max deposit). I reported on these details in this post from last week.

Membership is open to anyone who joins the California Association for Older Americans. This is described at the bottom of their Eligibility page:
Anyone can join this association, regardless of age or geographic location. Just indicate California Association for Older Americans on your application.

There's no cost to join this association. For details about joining Patelco, please refer to my Patelco review post.

Branches are primarily in California with one branch in the Chicago Metro area. At the start of 2008, Patelco officially switched from private insurance to federal insurance, and it's now NCUA insured (Charter # 68579). It's one of the nation's largest credit unions with $4.1 billion in assets and 242,093 members.

Thanks to the reader who emailed me this promotion.

  Tags: Patelco Credit Union, California, CD rates, IRA rates

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Comments
5 Comments.
Comment #1 by Anonymous posted on
Anonymous
FYI, E*trade's Complete Savings was cut today from 3.45% to 3.01%

1
Comment #2 by Anonymous posted on
Anonymous
Regarding Patelco's $50 checking bonus, I just spoke to a CSR and she said that an ACH transfer would not count as a direct deposit. She said it has to be through an employer.

1
Comment #3 by Anonymous posted on
Anonymous
This is good news for those of us who have maxed out Countrywide and were considering IndyMac's 4.05% e-money market account.

1
Comment #4 by Bozo (anonymous) posted on
Bozo
To: All
Re: Patelco

Patelco is OK. I have a CD maturing there this month which I'll move to Alliant (40 basis points difference, plus it wouldn't be "new money" at Patelco). For those new to Patelco, it is now NCUA insured, which is a plus. Their branch in Walnut Creek (CA) has nice free parking in the back. FYI, Alliant in San Mateo also has free parking in the back. It always grates to have to pay a parking meter to deposit money.

Yours,

Bozo

1
Comment #5 by Anonymous posted on
Anonymous
Any $100.00 or more monthly recurring direct deposit qualifies for the $50.00 checking bonus, it does not have to be from an employer. It is only offered thru April 12th though, unless you open your account at their new Lafayette branch, that has another special offer for a $100.00 total offer, direct deposit of $100. or more =$50. and use their free bill pay to make 3 payments = another $50. = $100. total, plus a free gourmet coffee gift card for $10. makes it $110. Patelco also offers a GR8R8 Savings for kids and teens up to 21 that pays 8% on the 1st $1,000. in balances. Patelco even waives their membership fee for all new members and deposits the first $1.00 to open your new membership! Another benefit is that you can get free, no fee/no surcharge ATM access at 25,000 COOP ATM's, all the Costco ATM's,all the 7-Eleven ATM's and now they just added all 750 plus Bank of the West ATM's plus you can make deposits at all the Bank of the West ATM's for free too.

1