Provident Credit Union (CA)


Overview / Commentary
650-508-0300
303 Twin Dolphin Dr
Redwood City, CA 94065-1497

Provident Credit Union (CA) is headquartered in Redwood City and is the 20th largest credit union in the state of California. It is also the 104th largest credit union in the nation. It was established in 1950 and as of December of 2020, it had grown to 337 employees and 128,170 members at 22 locations. Provident Credit Union (CA) has 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

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

Posted by: |

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

Posted by: |

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."

NOT Super Reward Checking

Posted by: |

This is account promises 1% interest but the hoops you are expected to jump through are unreasonable. Spending $300 credit seems easy enough, but you are expected to know when a merchant post. Several times, I made purchases within the month time frame with time to spare only to discover PCU won't count them because they didn't post to the account in time which they blame on the merchant. How can that be when you actually see charge in your account days before month end, but PCU decides to post at the beginning of the month. They only pay the 1% on the 1st $25K so frankly it isn't worth the hassle. Every time I've brought this to the attention of PCU they essentially say read the fine print. Good customer service would look at the facts and say, "Let me fix that, especially given you are long term customer!".

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Health
A+

Health Grade Components

Overall
NCUA #66343
Year Chartered1950
Employees337
Primary Regulator
Profit Margin
Return on Assets - YTD0.58%
Return on Equity - YTD5.59%
Annual Interest Income$81.8MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$3.32B$2.80B
LoansQ4 2020vs Q4 2019$1.90B$1.91B
DepositsQ4 2020vs Q4 2019$2.94B$2.45B
Equity CapitalQ4 2020vs Q4 2019$341.0MM$320.8MM
Loan Loss AllowanceQ4 2020vs Q4 2019$11.7MM$4.2MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$2.2MM$1.3MM
Real Estate OwnedQ4 2020vs Q4 2019$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.31%$25-HSA Checking
0.31%$25$3kAccumulator
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.41%*$125k*-Premier Money Market Savings
OTHER TIERS: 0.21% $25k - $75k | 0.31% $75k - $125k
0.26%*$100k*-Money Market Savings
OTHER TIERS: 0.08% $2.5k - $10k | 0.11% $10k - $50k | 0.16% $50k - $100k

Provident Credit Union (CA) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%*-$25kSuper Reward Checking - Qualifying
OTHER TIERS: 0.08% $25k+
0.20%*$125k*-Dividend Business Checking
OTHER TIERS: 0.10% $25k - $75k | 0.15% $75k - $125k

Provident Credit Union (CA) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.71%*$100k*-60 Month CD
OTHER TIERS: 0.61% $1k - $50k | 0.66% $50k - $100k
0.61%*$100k*-48 Month CD
OTHER TIERS: 0.51% $1k - $50k | 0.56% $50k - $100k
0.46%*$100k*-36 Month CD
OTHER TIERS: 0.36% $1k - $50k | 0.41% $50k - $100k
0.36%*$100k*-24 Month CD
OTHER TIERS: 0.26% $1k - $50k | 0.31% $50k - $100k
0.26%*$100k*-12 Month CD
OTHER TIERS: 0.16% $1k - $50k | 0.21% $50k - $100k
0.26%*$100k*-24 Month Bump Up CD
OTHER TIERS: 0.16% $1k - $50k | 0.21% $50k - $100k
0.26%*$100k*-12 Month Deferred Dividend CD
OTHER TIERS: 0.16% $500 - $50k | 0.21% $50k - $100k
0.26%*$100k*$1m24 Month Add-On Variable Rate CD
OTHER TIERS: 0.16% $500 - $50k | 0.21% $50k - $100k
0.26%*$100k*$1mHSA 24 Month Add-On Certificate
OTHER TIERS: 0.16% $250 - $50k | 0.21% $50k - $100k
0.21%*$100k*-6 Month CD
OTHER TIERS: 0.08% $1k - $50k | 0.16% $50k - $100k
0.16%*$100k*-12 Month Add On CD
OTHER TIERS: 0.06% $250 - $50k | 0.11% $50k - $100k
0.16%*$100k*$1m12 Month Youth Add On CD
OTHER TIERS: 0.06% $50 - $50k | 0.11% $50k - $100k
0.16%*$100k*$1mHSA 12 Month Add-On Certificate
OTHER TIERS: 0.06% $250 - $50k | 0.11% $50k - $100k
0.11%$5k$500k13 Month Liquid CD

Provident Credit Union (CA) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.71%*$100k*-60 Month IRA
OTHER TIERS: 0.61% $500 - $50k | 0.66% $50k - $100k
0.61%*$100k*-48 Month IRA
OTHER TIERS: 0.51% $500 - $50k | 0.56% $50k - $100k
0.46%*$100k*-36 Month IRA
OTHER TIERS: 0.36% $500 - $50k | 0.41% $50k - $100k
0.36%*$100k*-24 Month IRA
OTHER TIERS: 0.26% $500 - $50k | 0.31% $50k - $100k
0.36%*$100k*-36 Month Variable Rate IRA
OTHER TIERS: 0.26% $500 - $50k | 0.31% $50k - $100k
0.26%*$100k*-12 Month IRA
OTHER TIERS: 0.16% $500 - $50k | 0.21% $50k - $100k
0.26%*$100k*-24 Month Bump Up IRA
OTHER TIERS: 0.16% $500 - $50k | 0.21% $50k - $100k
0.26%*$100k*$1m24 Month Add On IRA
OTHER TIERS: 0.16% $250 - $50k | 0.21% $50k - $100k
0.26%*$100k*$1m24 Month Variable Rate IRA
OTHER TIERS: 0.16% $500 - $50k | 0.21% $50k - $100k
Locations

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