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 100th largest credit union in the nation. It was established in 1950 and as of June of 2019, it had grown to 314 employees and 120,152 members at 21 locations. Provident Credit Union (CA)'s CD rates are 2X 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)
Great employees
To The President/CEO
Provident Credit Union
Redwood City, CA
Ref: San Ramon Branch Employees
Dear Sir:
It gives me great pleasure to come to you with a review for the San Ramon Branch and the outstanding team of
employees that demonstrates pure professionalism.
Elisha Fiel: Branch Manager, I can not say enough about her, how warm she is to the elderly that come into the branch, always
willing and showing compassion ready to jump in to help whatever needed. "Way to go Elisha"
Veronica Ramirez: This lady is like family, happy, smiling and one of the original employees that has been at that location from day
one. She has the patience of "JOB" from the Bible. Always asking how's your day going, if you say not that great, after just being around her very positive attitude will make you feel so much better before you leave the credit union. "Peace and Blessings to you
Veronica."
Johndel Braga , Shalina Yares, and Analisa Wayrynen are fairly new to the branch but still you feel that welcome camaraderie, outstanding personalities and a great fit to the branch. What a delight to have them there. "You Ladies and Guy Rock". Keep doing your best .
Last Mr. President: you should be honored to have such a wonderful group of employees taking such great care of every person
coming into that branch. It's because of them that your doors will stay open.
Respectfully,
Francesca Ferrer
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 | 314 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.6% |
| Return on Equity - YTD | 5.19% |
| Annual Interest Income | $41.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $2.68B$2.48B |
| Loans | Q2 2019vs Q2 2018 | $1.82B$1.59B |
| Deposits | Q2 2019vs Q2 2018 | $2.34B$2.17B |
| Equity Capital | Q2 2019vs Q2 2018 | $311.4MM$286.1MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $4.3MM$3.9MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $752.00K$2.4MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $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
Provident Credit Union (CA) Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.11% | $125k | - | Premier Money Market Savings | ||
| 1.01%* | $100k* | - | Money Market Savings | ||
| OTHER TIERS: 0.16% → $2.5k - $10k | 0.51% → $10k - $50k | 0.61% → $50k - $100k | |||||
