Provident Credit Union (CA)
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.01% | Reward Checking | 1.81% - National Average |
| 2.71% | 5-year CD | 3.10% - Barclays 60 Month Online CD |
| 1.01% | 1-year CD | 2.75% - Barclays 12 Month Online CD |
Provident Credit Union (CA) is headquartered in Redwood City and is the 21st largest credit union in the state of California. It is also the 95th largest credit union in the nation. It was established in 1950 and as of December of 2018, it had grown to 309 employees and 118,288 members at 20 locations. Provident Credit Union (CA)'s CD rates are 3X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Provident Credit Union is open to the following: (1) those who live or work in San Mateo, San Francisco, Santa Clara, Contra Costa, Alameda, Monterey, Sacramento, Pacer, Humboldt, or El Dorado Counties in California and the City of Los Angeles, (2) employees of Belmont Chamber of Commerce, Danish-American Chamber of Commerce of Northern California, Burlingame Chamber of Commerce, and select local chambers of commerce in California, (3) members of the AFL-CIO Local 501, Carpenters Local 217 and select local unions, (4) members or employees of the American Heart Association-San Francisco Chapter, Association for Workplace Justice and other local associations, and (5) employees of City Building Inc., Circraft Inc., Inspired Company or other select local companies. Family and household members of current credit union members are also eligible to join.
See current membership details
Related Posts
1/8 - Provident Credit Union CA Drops Rate To 1.36% APY
10/24/12 - Providentcu RCA Drops Fr 2.26 To 2.01%
4/30/12 - Updated Review of Provident CU's Super Reward Checking Account
5/17/09 - Reward Checking Account at a California CU (Provident)
1/10/09 - 3.75% 15-Month CD at Provident Credit Union in California - Easy Membership
3/15/08 - 4.00% 60-Month CD at a California CU - IRA/Easy Membership (Provident).
11/7/07 - 5.30% 16-Month CD at a California CU - easy membership (Provident)
Good Service, Good Rewards Checking
Very competitive rewards checking account. The call center provided first order of checks free although in the first branch I went to in San Francisco the agent said they were not free. (Odd because first order of checks is free on their other accounts.) Issued check card with name etc immediately. Requires 1 ACH credit or debit. 10 signature or pin transactions.Easy. Good website with ACH transfer. CD rates not too bad considering this economy.
Great Institution; High Rewards Checking Rate
I've been a member for 2 years and am a happy customer. I always look for credit unions first when choosing a bank-type institution; when I moved to the Bay Area I began my search. I looked at BBB.org ratings and complaint history. There were a few credit unions that topped the quality list and I finally choose Provident because of its Rewards Checking account rate.
Two years and greater acquaitance later, I have never regretted this decision. I easily recommend Provident to coworkers, friends, and people new to the area. That amazing rewards checking rate is still at 2.26% when everywhere rates keep dropping even on "high-yield" accounts from AMEX and Smarty Pig. (Rewards checking in general is fantastic these days if you can find it. Meeting the requirements is easy with my routine.)
Online banking is fine. I use auto bill-pay to cover my rent and direct deposit from my employer. Mint.com works great. The account is linked to mutual fund and brokerage accounts. ATMs are free within the entire credit union network; out of network ATM fees are reimbursed up to $2.50.
The only feature missing for me is virtual sub-accounts (like ING has). I'd like to auto-transfer money from the rewards checking into sub-accounts for savings goals, even if those virtual accounts are part of a seperate savings account with different (realisticaly lower) rates.
Provident Credit Union Restricts Transfer Amounts As Of 4/24/13
I received this email over the weekend from Provident CU:
"Our records indicate that you have set up an external account in our online banking system to transfer funds to/from your Provident accounts.
Good news! On April 24th, in-bound transfers from another institution will be completed within three business days instead of five — a full two days faster. Out-bound transfers will remain at 2 business days.
IMPORTANT: The maximum transfer amount per day is changing from $25,000 to $3,000, and the maximum transfer amount total every 30 days is changing from $34,999 to $6,000."
Contempt For Members
Provident has decided to completely block all access to your own financial data! With no warning they have blacked services like Mint or PersonalCapital from being able to access online banking. Even the service they (still) advertise on their site Quicken WebConnect is broken.
Want to aggregate your financial information across multiple banks with PersonalCapital? NO
Want to use Mint to track bill payments and reminders? NO
Want to use Quickbooks Online or Xero to manage your business? NO
They also completely bungled the roll out of this 'upgrade' with absolutely ZERO communication to members either before OR after the change. When you call and talk to them they give you a BS line about 'hackers' and rudely hang up.
If their concern was actually security based, they could implement any one (or more) of many industry standard security procedures and still give members access to their own data. How about 2FA with a OTP? How about application specific passwords for aggregator sites? How about authorization of specific IPs/DNS sites? How about direct API connection to the services clients use?
This change is completely short sited and will discourage anyone who lives in the connected world of 2017 to leave. It is not 1992, and while I can live with an online banking site that looks like it is 1992, I can't stay at a bank that sets up a walled garden and blocks customers access to their own data.
This is an extinction level mistake.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 66343 |
| Year Chartered | 1950 |
| Employees | 309 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.63% |
| Return on Equity - YTD | 5.42% |
| Annual Interest Income | $73.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $2.60B$2.39B |
| Loans | Q4 2018vs Q4 2017 | $1.70B$1.47B |
| Deposits | Q4 2018vs Q4 2017 | $2.28B$2.08B |
| Equity Capital | Q4 2018vs Q4 2017 | $297.3MM$282.0MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $4.4MM$3.8MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $1.5MM$1.8MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Provident Credit Union (CA); 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.
Provident Credit Union (CA) Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.55% | $25 | - | HSA Checking | ||
| 0.31% | $25 | $3k | Accumulator | ||
| 0.10% | $25 | - | IRA Savings | ||
| 0.08%* | $25k* | - | Membership Savings | ||
| OTHER TIERS: 0.03% → $5 - $25k | |||||
| 0.08%* | $25k* | - | Youth Savings | ||
| OTHER TIERS: 0.03% → $5 - $25k | |||||
| 0.08%* | $25k* | - | Business Regular Savings | ||
| OTHER TIERS: 0.03% → $5 - $25k | |||||
| 0.08%* | $25k* | - | Secondary Savings Account | ||
| OTHER TIERS: 0.03% → $5 - $25k | |||||
| 0.03% | - | - | Round Up | ||
Provident Credit Union (CA) Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.75%* | $125k* | - | Premier Money Market Savings | ||
| OTHER TIERS: 0.46% → $25k - $75k | 0.70% → $75k - $125k | |||||
| 0.70%* | $100k* | - | Money Market Savings | ||
| OTHER TIERS: 0.08% → $2.5k - $10k | 0.40% → $10k - $50k | 0.46% → $50k - $100k | |||||
Provident Credit Union (CA) Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.01%* | - | $25k | Super Reward Checking - Qualifying | ||
| OTHER TIERS: 0.08% → $25k+ | |||||
| 0.20%* | $125k* | - | Basic Business Checking | ||
| OTHER TIERS: 0.10% → $25k - $75k | 0.15% → $75k - $125k | |||||
| 0.20%* | $125k* | - | Dividend Business Checking | ||
| OTHER TIERS: 0.10% → $25k - $75k | 0.15% → $75k - $125k | |||||
Provident Credit Union (CA) CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.71%* | $100k* | - | 60 Month CD | ||
| OTHER TIERS: 2.61% → $1k - $50k | 2.66% → $50k - $100k | |||||
| 2.66%* | $100k* | - | 48 Month CD | ||
| OTHER TIERS: 2.56% → $1k - $50k | 2.61% → $50k - $100k | |||||
| 2.61%* | $100k* | - | 36 Month CD | ||
| OTHER TIERS: 2.51% → $1k - $50k | 2.56% → $50k - $100k | |||||
| 2.56%* | $100k* | - | 24 Month CD | ||
| OTHER TIERS: 2.46% → $1k - $50k | 2.51% → $50k - $100k | |||||
| 2.56%* | $100k* | - | HSA 24 Month Add-On Certificate | ||
| OTHER TIERS: 2.46% → $250 - $50k | 2.51% → $50k - $100k | |||||
| 2.46%* | $100k* | - | 24 Month Bump Up CD | ||
| OTHER TIERS: 2.36% → $1k - $50k | 2.41% → $50k - $100k | |||||
| 2.46%* | $100k* | - | 24 Month Add-On Variable Rate CD | ||
| OTHER TIERS: 2.36% → $500 - $50k | 2.41% → $50k - $100k | |||||
| 2.31%* | $100k* | - | 12 Month CD | ||
| OTHER TIERS: 2.21% → $1k - $50k | 2.26% → $50k - $100k | |||||
| 2.31%* | $100k* | - | 12 Month Add On CD | ||
| OTHER TIERS: 2.21% → $250 - $50k | 2.26% → $50k - $100k | |||||
| 2.31%* | $100k* | - | 12 Month Youth Add On CD | ||
| OTHER TIERS: 2.21% → $50 - $50k | 2.26% → $50k - $100k | |||||
| 2.31%* | $100k* | - | 12 Month Deferred Dividend CD | ||
| OTHER TIERS: 2.21% → $500 - $50k | 2.26% → $50k - $100k | |||||
| 2.31%* | $100k* | - | HSA 12 Month Add-On Certificate | ||
| OTHER TIERS: 2.21% → $250 - $50k | 2.26% → $50k - $100k | |||||
| 1.01% | $5k | $500k | 13 Month Liquid CD | ||
| 0.86%* | $100k* | - | 6 Month CD | ||
| OTHER TIERS: 0.76% → $1k - $50k | 0.81% → $50k - $100k | |||||
Provident Credit Union (CA) IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.71%* | $100k* | - | 60 Month IRA | ||
| OTHER TIERS: 2.61% → $500 - $50k | 2.66% → $50k - $100k | |||||
| 2.66%* | $100k* | - | 48 Month IRA | ||
| OTHER TIERS: 2.56% → $500 - $50k | 2.61% → $50k - $100k | |||||
| 2.61%* | $100k* | - | 36 Month IRA | ||
| OTHER TIERS: 2.51% → $500 - $50k | 2.56% → $50k - $100k | |||||
| 2.56%* | $100k* | - | 24 Month IRA | ||
| OTHER TIERS: 2.46% → $500 - $50k | 2.51% → $50k - $100k | |||||
| 2.56%* | $100k* | - | 24 Month Add On IRA | ||
| OTHER TIERS: 2.46% → $250 - $50k | 2.51% → $50k - $100k | |||||
| 2.51%* | $100k* | - | 36 Month Variable Rate IRA | ||
| OTHER TIERS: 2.41% → $500 - $50k | 2.46% → $50k - $100k | |||||
| 2.46%* | $100k* | - | 24 Month Bump Up IRA | ||
| OTHER TIERS: 2.36% → $500 - $50k | 2.41% → $50k - $100k | |||||
| 2.46%* | $100k* | - | 24 Month Variable Rate IRA | ||
| OTHER TIERS: 2.36% → $500 - $50k | 2.41% → $50k - $100k | |||||
| 2.31%* | $100k* | - | 12 Month IRA | ||
| OTHER TIERS: 2.21% → $500 - $50k | 2.26% → $50k - $100k | |||||
