DUBLIN, Calif. –- Patelco Credit Union said it has welcomed its 500,000th member.
The credit union was founded 87 years ago by a handful employees at Pacific Telephone and Telegraph Company (now AT&T) with a dream to create a credit union dedicated to helping its members and communities prosper.
“Honoring our founders’ dream continues to remain at the heart of everything we do,” Patelco Credit Union President and CEO Erin Mendez said in a statement. “This milestone is a testament to our commitment to fueling hope while building financial resiliency and wellbeing for our growing membership base.”
The $9.7-billion credit union said that rooted in its not-for-profit ethos, its “mission is to fuel hope and opportunity for members to achieve lifelong financial wellbeing. As Patelco celebrates this milestone, the credit union reflects on its achievements and looks forward to the future.”
Member Benefits
Patelco said services it offers that benefit members include:
- ScoreUp Credit Builder, Loan, which “successfully helps people rebuild their credit or establish credit, while building their savings at the same time.”
- LevelUp, which offers discount rewards to members for making consistent on-time loan payments with better interest rates if they don’t qualify for the lowest rate available.
- Certified Financial Specialists, who offer members extra help and guidance with budgeting, planning, or saving.
- Patelco Fraud Center, a “dynamic online hub for the Patelco team and members to learn how to avoid the latest scams, keep accounts safe, and get help anytime needed. Since its inception in February 2023, Patelco’s fraud specialist team has helped over 7,000 members with fraud support and scam advice.” Patelco estimates it has saved more than $19.4 million in losses due to fraud in only five months (Aug. - Dec. 2023).
- An everyday free checking account that includes no overdraft fees with the launch of Instant BackUp. “Going beyond to give members even more, Patelco has rolled out RoundUp, which can automatically round up debit purchases to the nearest dollar,” the credit union said. ”RoundUp then deposits the rounded up amount into a savings account. Enrolled members can even choose to multiply the round ups to five times the amount and further boost their savings.”
- Every Patelco member with a checking account also has access to Prizeout. “With Prizeout, members can purchase digital gift cards directly in the Patelco Mobile App from brands they already shop every day – like grocery and drug stores, online department stores, and travel brands – and instantly receive up to 20% more bonus value to spend.”
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