Patelco Credit Union Review
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At a glance
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:
High APY Free CheckingHighlights:
CDs
Checking
Savings
MMA
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD 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.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD 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.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Patelco Credit Union is a full-service credit union primarily serving members in Northern California. From investing and insurance to credit cards and savings, Patelco offers all the products you’d want to keep your banking under one roof. Patelco offers strong 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 keeping all of your accounts with the credit union.
Pros
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Patelco’s money market account pays a top-of-the-market APY on certain balance tiers.
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It offers a free checking account without a minimum deposit requirement.
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 banking products
Patelco Credit Union savings overview
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.
Patelco Credit Union CD overview
Pros
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The range of share certificate terms lets members easily build a ladder.
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The minimum deposit is only $250.
Cons
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Yields for the shortest certificate terms are low and dividends aren’t paid until maturity.
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Higher yields can be found elsewhere.
Patelco Credit Union money market overview
Pros
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Even with a tiered APY, the yield is competitive.
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Savers only need a $1 deposit to open and earn interest.
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The account doesn’t charge a monthly fee.
Cons
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You may be able to find higher yields elsewhere on balances of $10,000 and more.
Patelco Credit Union checking overview
Pros
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The Free Checking account has no monthly fee or deposit requirement.
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It offers free overdraft transfers from a linked account
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Patelco members get free access to thousands of CO-OP ATMs.
Cons
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Patelco charges $1.75 to use out-of-network ATMs and doesn’t offer rebates.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $15 |
| Non-sufficient funds fee | $28 |
| Monthly maintenance fees | None |
| Out-of-network ATM fee | $1.75 |
| Excessive transaction fee | None |
Customer experience
Customer service. Patelco Credit Union customer service representatives are available by phone. Customers can also send email via the credit union’s website, meet with an agent virtually via live chat from 9 am to 5 pm PT, or schedule an appointment with a Patelco representative in person, virtually or over the phone.
Digital experience. Patelco 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.
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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.
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