Patelco Credit Union introduces Plus Checking, protecting and improving members’ financial well-being through small steps that make a big difference
Plus Checking provides an array of features including award-winning identity protection, automatic round-up savings with a 10 percent match, worldwide ATM fee rebates and more
PLEASANTON, CA (February 28, 2019) — Patelco Credit Union formally introduced Plus Checking today, which we believe is the most powerful and feature-rich checking account available anywhere, designed to encourage members to take small steps that improve their financial well-being while protecting everything they’ve worked so hard to achieve.
“It’s Patelco’s mission to support our members at every step of the way,” said Erin Mendez, CEO of Patelco Credit Union. “That’s why we are introducing Plus Checking, a powerful checking product that provides a holistic suite of benefits meant to positively affect and protect members’ lifelong financial well-being. We know small steps can change your future – we see it happen every day – and Plus Checking puts this philosophy into practice.”
Plus Checking Benefits
In a recent study from the U.S. Federal Reserve, the government agency found that 40 percent of the U.S. population could not cover a $400 emergency expense without borrowing or selling something. With this in mind, Plus Checking completely reimagines the role of a checking account by offering members solutions for dealing with challenging yet common financial emergencies, including identity theft, unforeseen car trouble, and cell phone damage, all while helping build savings by offering an automatic round-up savings program, incentivized with a 10 percent match.
Details of the benefits include:
1. Identity Theft Protection – coverage for the entire family; online ID vault for sensitive information, documents, and passwords; fully managed ID Restoration Pro for the entire family to discover, isolate, and prevent future fraud; up to $10,000 a year of theft insurance to help cover charges accrued due to the theft (e.g. lawyer’s fees, lost wages); monitoring of public records, the internet and dark web, payday loans and other places member information doesn’t belong.
2. Worldwide ATM Fee Rebates – use any ATM worldwide and automatically be reimbursed for ATM cash fees by the end of the day; two reimbursements per month.
3. Automatic Round-Up Savings and 10% Match – save automatically on all debit card purchases. Patelco rounds up the total purchase to the nearest dollar and transfers the difference into a savings account. Patelco then matches 10 percent of the rounded-up amount.
4. Credit Monitoring – free credit monitoring across all three bureaus; free quarterly credit report and credit score; automated alerts if anything on the credit profile changes.
5. Exclusive Discounts – local and national discounts on dining, entertainment, travel, health, and shopping at thousands of merchants and stores, like Target and Walgreens. The Patelco Plus Benefits app uses geolocation to deliver the discounts nearest to the member.
6. Roadside Assistance – 24/7 roadside assistance including flat tire assistance, towing, battery service, lock-out assistance and more.
7. Cell Phone Protection – fix a damaged phone or replace a stolen one; covers up to three phones, up to $400 per claim.
Pleasanton, California-based Patelco Credit Union is a not-for-profit credit union committed to serving the financial health and well-being of its membership. With more than 350,000 members primarily in and around northern California, Patelco is committed to fueling hope and opportunity for its members by offering personalized solutions, advice, and expertise that empower them to achieve personal financial freedom. Founded in 1936 with $500 in assets by employees of the Pacific Telephone and Telegraph Company, Patelco is in the top one percent of U.S. credit unions with more than $6.9 billion in assets. For more information, visit https://www.patelco.org/