Patelco Credit Union


Overview / Commentary
800-358-8228
3 Park Place
Dublin, CA 94568

Patelco credit union got its start in 1936 with just $500 pooled together for the benefit of employees of the Pacific Telephone and Telegraph Company (which is now a part of AT&T). Today, the credit union serves its over 300,000 members from over 30 branch locations in Southern California.

Patelco offers its members a full range of financial products and services, including quick, easy, and secure access to funds through online and mobile banking options. Its personal depository banking products include checking accounts, savings accounts, health savings accounts (HSAs), money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs).

There are both interest and non-interest-bearing checking accounts available, including an option with tiered interest rates for higher account balances. Patelco requires a basic savings account for membership, but also provides savings account options for youth and for specific saving goals, such as holiday spending. The credit union’s money market account yields tiered dividends, depending upon account balances.

Patelco CD terms go from 3 to 60 months. The credit union provides both Traditional and Roth IRAs, as well as Coverdell Education Savings Accounts (ESAs) – all available as either CDs or money market accounts.

Field of Membership Restrictions

Patelco Credit Union is open to anyone through joining the Financial Fitness Association ($8 yearly membership), or who lives, works, goes to school or worships in Alameda, Contra Costa, El Dorado, Marin, Merced, Napa, Placer, Sacramento, San Francisco, San Joaquin, San Mateo, Santa Clara, Solano, Sonoma, Stanislaus, or Yolo counties or the cities of Bakersfield, Eureka, McKinleyville, or Santa Cruz in California. Membership also extends to Alumni of the University of California Berkeley, San Francisco State University, and California State University East Bay.
See current membership details

Unique Money Market And CD Accounts, Great Mobile App

Posted by: |

Patelco has a unique money market account that allows an unlimited number of ACH transactions. I use it as a high yield checking account.

Patelco's Traditional IRA CD's are also unique in allowing early withdrawals for people above age 59.5 with no penalty. Patelco has a long history of offering CD promotions from time to time.

Patelco's mobile app is reliable and customizable, but e-statements are only available through the website. External ACH transfer limits are low - $10k outbound and $20k inbound per month - but there is no limit on externally initiated ACH.

I've never been charged any fees, and adding beneficiaries can be accomplished by uploading a form through Patelco's secure messaging system.

Error In Patelco Statements

Posted by: |

I like Patelco, as they have good CD rates. However, there is no way of knowing how the ownership of your accounts are registered except by calling them and taking their word for it. They told me you can get this info from the e-statements that are on their web portal, but the information in their statements is wrong, at least if you have POD designations. For example, if you have any POD designations, the statement will indicate a joint account owned by both the owners AND beneficiaries as joint owners. They should really correct this bug in their system as it can have legal implications if one of the beneficiaries wants to argue that they are in fact owners.

I'm Leaving Because Of Ridiculous Low Balance Fees

Posted by: |

I recently withdrew my CD money from Patelco and now because I have only a regular savings account I'm being charged a low balance fee of $5.00 per month. According to the CSR you need a balance of at least $150.00 in your regular savings account if you have no other types of sub-accounts such as checking or a CD to go with it. They didn't mention this when I was arranging for the CD withdrawal, by the way. I don't appreciate being dinged in this petty manner so I'm pulling out. I usually keep my accounts open in cases like this to make it easy for me to come back if and when circumstances change but I don't really need Patelco that badly now or in the future.

Lack Of Professionalism

Posted by: |

I opened my account with Patelco and applied for the Pure Mastercard, I was approved for 18,000. A week and a half later I applied for an Auto Loan and they approved me 50k, I start uploading all the required documents, I spent about a week uploading documents for the car, the day before picking up the vehicle they tell me that they can't give me the loan because I have less than 6 months with the Credit Union, a requirement as basic as that in a week uploading documents nobody noticed, a waste of time, NOBODY called me to apologize, I asked to speak with a Manager and I never received any call , the credit card was also denied to me after having approved it. I thought I was working with professional people but it turns out that they are unprofessional and they cover their things among themselves.

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Health
B+

Health Grade Components

Overall
NCUA #68579
Year Chartered1936
Employees830
Primary Regulator
Profit Margin
Return on Assets - YTD1.77%
Return on Equity - YTD19.64%
Annual Interest Income$109.7MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$9.77B$9.6B
LoansQ1 2024vs Q1 2023$6.62B$6.46B
DepositsQ1 2024vs Q1 2023$8.18B$8.27B
Equity CapitalQ1 2024vs Q1 2023$876.9MM$772.1MM
Loan Loss AllowanceQ1 2024vs Q1 2023$62.5MM$59.5MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$39.9MM$25.2MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Patelco Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Patelco Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$3.5k*-Health Savings Account
OTHER TIERS: 0.05% $0 - $2k | 0.10% $2k - $3.5k
0.05%$20-Holiday Club
0.05%$0-Regular Savings
0.05%$0-ScoreUp Savings
0.05%$0-Youth Savings

Patelco Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%*$250k*-Money Market Plus
OTHER TIERS: 3.00% $1 - $50k | 3.51% $50k - $100k | 4.00% $100k - $250k
2.00%*$0$2kMoney Market Select Account
OTHER TIERS: 0.15% $100k - $10m | 0.20% $50k - $100k | 0.25% $10k - $50k | 1.00% $5k - $10k | 1.50% $2k - $5k
2.00%*$0$2kMoney Market Select IRA
OTHER TIERS: 0.15% $100k - $10m | 0.20% $50k - $100k | 0.25% $10k - $50k | 1.00% $5k - $10k | 1.50% $2k - $5k

Patelco Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$0-Interest Checking

Patelco Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%$250-9 Month CD Special
4.90%$250-14 Month CD Special
4.60%$250-23 Month CD Special
3.75%$250-18 - 23 Month CD
3.50%$250-24 - 35 Month CD
3.00%$250-36 - 47 Month CD
3.00%$250-48 - 59 Month CD
3.00%$250-60 Month CD
3.00%$250-12 - 17 Month CD
2.00%$250-6 - 11 Month CD
1.00%$250-3 - 5 Month CD

Patelco Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%$250-9 Month IRA Special
4.90%$250-14 Month IRA Special
4.60%$250-23 Month IRA Special
3.75%$250-18 - 23 Month IRA
3.50%$250-24 - 35 Month IRA
3.00%$250-36 - 47 Month IRA
3.00%$250-48 - 59 Month IRA
3.00%$250-60 Month IRA
3.00%$250-12 - 17 Month IRA
2.00%$250-6 - 11 Month IRA
1.00%$250-3 - 5 Month IRA
Locations

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