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Patelco Credit Union Review 2022

Updated December 2, 2022
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At a glance

4.3
Rating: 4.3 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.9 stars out of 5

Checking

Rating: 4.7 stars out of 5

Savings

Rating: 2.8 stars out of 5

MMA

Rating: 5 stars out of 5

About Bankrate Score

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Overview

Patelco Credit Union is a full-service credit union offering a range of competitive deposit products, making it a worthwhile option for savers who meet the credit union’s requirements.

Highlights

  • Free Checking
  • High APY
Compare offers
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 4.3 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.3 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.3 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

Patelco Credit Union is a full-service credit union serving members in Northern California.

Pros

  • Checkmark

    Patelco’s money market account pays a very competitive APY on certain balance tiers.

  • Checkmark

    It offers a free checking account without a minimum deposit requirement.

  • Checkmark

    All of the credit union’s share certificates pay a competitive yield.

Cons

  • The savings account pays a below-average yield.

  • Patelco doesn’t offer any specialty certificates.

Patelco Credit Union bank products

2.8
Rating: 2.8 stars out of 5
Bankrate Score

Patelco Credit Union savings overview

Patelco Credit Union offers its Regular Savings account, which is fee free and requires only a 1 cent deposit to earn interest. The account’s APY, however, is low, even below the national average. Savers looking for a competitive yield should consider the credit union’s money market account or compare savings accounts at other institutions.

Pros

  • Checkmark

    The savings account doesn’t charge a monthly service fee.

  • Checkmark

    The deposit needed to open and earn interest is just a penny.

Cons

  • The APY is low, even below the national average.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 4.3 stars out of 5
InfoHover for more
$0
Min balance for APY

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, and also have access to Patelco’s budgeting features. Patelco also hosts regular webinars to help members learn more about managing their finances.

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., which is now AT&T, created the credit union, according to the institution’s website.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.