Patelco Credit Union Bank Reviews & Ratings
Posted On: 7/21/2008Fine print, CD is only applicable to 1000$ no more/no less. Compounding monthly this is about 75 dollars in a year (I guarantee the roll over rate will suck). As a side note you must open other accounts.
Considering you can get 3.5% rates at your current bank. The net gain is about 38 dollars for your 1 hour trip to the bank the spam mail you will receive for years to come.
Anyone who makes more than 6 dollars an hour and already has a decent checking account shouldn’t waist their time.
Posted On: 6/09/2008Like others say, you get the 7% on $1000 only; no more, no less. That’s $70/year. The time it takes to qualify yourself as a member, open the account, and later pull your money makes it hardly worth the trouble… especially if you are looking to park a larger amount of money.
Posted On: 6/07/2008Read the small print! I did, and changed my mind about the company:
You only get the fabulous rate on the first $1000. Amounts after that get a low rate.
This is a toy, not a serious safe-investment product.
Posted On: 6/06/2008check eligibility requirements here:
http://www.patelco.org/apply/eligibility.aspx
http://www.patelco.org/apply/eligibility.aspx
Posted On: 6/04/2008You must deposit exactly $1000
Posted On: 5/03/2008I don’t understand the negative reviews, all of them stemming from the fact that the maximum is $1,000. So what? If you have an extra $1G laying around, what possible reason would you have to NOT put it into a 7% CD, instead of into a 4-5% CD? Even if the maximum is $500, or $1, it doesn’t matter, the MAIN POINT is that the APR is high, that is all you care about. And to answer the other reviewer from Sacramento who said the amount will “automatically” renew into a lower APR CD after the 12 month term is up… that is only if you fail to withdraw the funds (which are yours to keep) after the 7% period is up.
Posted On: 4/20/2008I opened a new customer certificate for myself and my three children. The downside was that we could only deposit 1000 each but the rate is 7%. Also, if the children are under 18, you can open a savings account at 8% guaranteed for one year also with a max of 1000. I was able to deposit 7k at 7% and 8%. Good deal even though there are limits.
I’ll update when the cds mature.
Posted On: 4/05/2008 DO NOT WASTE OUR TIME SUBMITTING REVIEWS OF ANY FINANCIAL INSTITUTION YOU HAVE NOT ACTUALLY ESTABLISHED AN ACCOUNT WITH!!!!!!!!
I WAS AMAZED AT THE NEGATIVE POSTS ON THIS SITE. THE CREDIT UNION PATELCO WAS OFFERING A GREAT INSENTIVE TO START UP SAVERS AND THE FEW IDIOTS WHO DISCOURAGED ANYONE FROM JOINING SHOULD BE MADE AWARE THAT THEY NEED TO TAKE THIS COMMENT OPPORTUNITY SERIOUSLY OR SHUT-UP.
I WAS AMAZED AT THE NEGATIVE POSTS ON THIS SITE. THE CREDIT UNION PATELCO WAS OFFERING A GREAT INSENTIVE TO START UP SAVERS AND THE FEW IDIOTS WHO DISCOURAGED ANYONE FROM JOINING SHOULD BE MADE AWARE THAT THEY NEED TO TAKE THIS COMMENT OPPORTUNITY SERIOUSLY OR SHUT-UP.
Posted On: 3/31/20087% is a gimmick and it scares me to think of an institution that has and minimum and maximum of $1,000 in any account. Patelco should not be listed here. this should be a site for people serious about icking out a few extra dollars out of their cash reserve. CD’s and MMA’s are reserve cash. If all you have is $1,000 dollars it should in all likelyhood best be kept in a cheking account. Do not gamble on Patelco
Posted On: 3/26/2008Should this gimmick offer even be listed?
Posted On: 3/25/2008scam marketing
Posted On: 3/18/2008Just checked the small prints on the bank’s website. Here is an interesting caveat: “At maturity the certificate will renew at Patelco’s current yield for a regular 12-23 month share certificate. Penalty for early withdrawal.” i.e. your money will be invested for a minimum of 24 months, 12 of which will be at a rate most likely much lower than the 7% you first sign up for. Also you can only invest $1,000.
Posted On: 3/18/2008Not sure about this.
Posted On: 3/16/2008I just opened a CD at 7.0% for 12 mo. I was hoping to do more…say $5,000 but I will test this out and maybe put more in later on. It took me 5 min and I was approved. I will see how it goes. I followed the instructions below. I will post with updates in the future.
Posted On: 3/15/2008THIS IS A LIMITED TIME OFFER TO PURCHASE A $1000.00 12MTH CD AT 7% APY. IT IS AVAILABLE TO ALL U.S. CITIZENS. ON THE ONLINE APPLICATION WHERE YOU ARE ASKED TO ENTER ELIGIBILITY:CLICK THE HEARD ABOUT THROUGH MY EMPLOYER OPTION.
STEP 1 OF 2 ENTER:OLDER AMERICANS(AND PRESS “LOOKUP”).
STEP 2 OF 2 SELECT: CALIFORNIA ASSN. FOR OLDER AMERICANS.
**YOU WILL BE ALLOWED FREE NO ANNUAL FEE MEMBERSHIP TO THE ASSOCIATION**. THIS IS A GREAT RATE AND A RELIABLE BANK I RECOMMEND YOU TAKE ADVANTAGE BEFORE THE OFFER EXPIRES.
STEP 1 OF 2 ENTER:OLDER AMERICANS(AND PRESS “LOOKUP”).
STEP 2 OF 2 SELECT: CALIFORNIA ASSN. FOR OLDER AMERICANS.
**YOU WILL BE ALLOWED FREE NO ANNUAL FEE MEMBERSHIP TO THE ASSOCIATION**. THIS IS A GREAT RATE AND A RELIABLE BANK I RECOMMEND YOU TAKE ADVANTAGE BEFORE THE OFFER EXPIRES.
Posted On: 3/14/2008Only available if you meet certain limitations – live/work in San Francisco.
Posted On: 2/25/2008Service is the best Transactions online or by phone done efficiently
and effectively Easy to move money into CD from deposit at other credit unions and easy to transfer money out of CD at maturity through checking account Also have excellent HSA program
and effectively Easy to move money into CD from deposit at other credit unions and easy to transfer money out of CD at maturity through checking account Also have excellent HSA program
Posted On: 2/14/2008I have been dealing with Patelco for the past 4 years (CD’s Only). Without a doubt they are at the top of the list when it comes to customer service, online access, withdrawals, deposits,rates, etc.
Posted On: 2/01/2008I am already Patelco member but if you are living in SF/bay area, you should check out this credit union.
They offer 7% APR new CD only for new member.
They offer 7% APR new CD only for new member.
