Patelco Credit Union, a Bay Area-based credit union serving members for more than 80 years, ranks eighth on Bankrate’s Best Credit Unions of 2021 list. The personal finance resource and website analyzed and scored credit unions across the nation based on a variety of factors including product selection, APY offerings, account fees, mobile features and more.
Bankrate awarded Patelco 4.4 out of five stars and had this to say, “Patelco offers competitive yields on its money market account and certificates. Additionally, the credit union also offers a highly rated mobile app on both iOS and Android devices and hosts webinars to help members learn more about managing their finances.”
“We are extremely proud to make Bankrate’s Best Credit Unions of 2021 list,” said Erin Mendez, president and CEO, Patelco Credit Union. “In our mission to serve and support the financial wellbeing of our members, recognition from a personal finance company dedicated to helping guide people through their financial journey is an honor and inspires us to continue to bring the best products, services and experience to our members.”
In addition to Patelco’s overall ranking, its money market accounts landed a perfect score with a five star rating. According to Bankrate, “Patelco showcases an eye-popping APY on its money market account, but dig a little deeper and you’ll find it offers a tiered APY structure. Balances between $1-$2,000 earn a very high APY, and then the yield decreases as the deposit amount increases. The blended APY with a $25,000 deposit, however, is still a very strong APY that’s well above the national average.” Patelco’s innovative “Money Market Select Account” was created with small savers in mind, giving lower-balance savers the same rate as larger depositors to give members a boost on building savings for a home, car or an emergency fund. Patelco is proud to receive recognition for this unique offering that has made a difference in so many members’ financial lives.