Patelco Credit Union Review 2023
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Patelco Credit Union is a full-service credit union offering a range of competitive deposit products, making it a worthwhile option for Northern Californians who meet the credit union’s requirements.
Highlights
- Free Checking
- High APY
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
Patelco Credit Union is a full-service credit union serving members in Northern California. From investing and insurance to credit cards and savings, Patelco offers all the products you’d want to consolidate your banking in one place. Patelco offers stellar APYs on most of its share certificates and provides fee-free checking and money market accounts. But the yields for its savings account are extremely low, dimming the appeal of bringing all of your banking under Patelco’s roof.
Pros
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Patelco’s money market account pays a very competitive APY on certain balance tiers.
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It offers a free checking account without a minimum deposit requirement.
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Most of the credit union’s share certificates pay a competitive yield.
Cons
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The savings account pays a below-average yield.
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Patelco doesn’t offer out-of-network ATM fee rebates.
Patelco Credit Union bank products
Patelco Credit Union savings overview
This account comes with a debit card and overdraft protection in case you overdraw your checking account. You can freely access your money at one of Patelco’s branches in California or at one of Patelco’s more than 30,000 in-network ATMs.
Pros
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The savings account doesn’t charge a monthly service fee.
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The deposit needed to open and earn interest is just a penny.
Cons
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The APY is low, even below the national average.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
Patelco Credit Union customer service representatives are available by phone from 7:30 a.m. to 7 p.m. Pacific time, weekdays, and 9 a.m. to 2 p.m., Saturdays. Customers can also send email via the credit union’s website, meet with an agent virtually, or schedule an appointment with a Patelco representative in person, virtually or over the phone. Patelco also offers a highly rated app for both iOS and Android devices.
Members can deposit checks and pay bills through their mobile devices. Patelco also hosts regular webinars to help members learn more about managing their finances.
Customers can make person-to-person payments using Zelle and can also add their debit card to Apple Pay and Google Pay.
About Patelco Credit Union
Patelco Credit Union is a full-service credit union serving members in Northern California. Membership is limited to people who meet at least one of the institution’s requirements. For example, residents who live, work or attend school or worship in an eligible location qualify for membership. The credit union offers a range of competitive deposit products, making it a viable option for savers who meet its requirements.
Patelco was founded in 1936, when some employees at Pacific Telephone and Telegraph Co., now AT&T, created the credit union, according to the institution’s website.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
