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November 2007
 

it’s time to step up savings

The car broke down. Your son just lost his retainer... again. And you're overdue for a vacation. Wouldn't it be nice to have money set aside to pay for emergencies, trips and special purchases?

You can, with a little planning and an automatic savings program. Patelco can help you:

  • Transfer money automatically each month from your Patelco checking account to your savings account. Visit www.patelco.org/accounts/ach to learn more.
  • Set up direct deposit of your paycheck into your Patelco savings account. This is a good way to "pay yourself first," and then transfer money for living expenses into your checking account.
  • Save even more with Patelco's gr8 r8 Savings offer. Members under age 21 can earn 8.00% APY* on balances up to $1,000 with a $1 minimum balance and no maximum balance.** No new money is required. Learn more at www.patelco.org/gr8r8.

    • Savings Options to Suit Your Needs
    Whether you're saving for the long term or just want to be ready for holiday expenses, we have the account for you. Our Tiered Savings Account allows you to earn a higher dividend rate for higher balances.***

    Plan ahead for 2008 with our Holiday Club and earn a competitive rate by saving as little as $20 a month through automatic transfers or direct deposit. Disbursements are made in November each year.

    Start saving now and, before you know it, you'll have a tidy emergency fund, enough money to cover your next vacation or the cash you need to buy that flat-screen TV you've been eyeing. To learn more, visit www.patelco.org/savings.

    * Annual Percentage Yield effective as of 7/30/07, subject to
    change. 8.00% APY effective through 12/31/08 on balances
    up to $1,000.

    ** Amounts over $1,000 earn the low tier regular share account rate and the APY will be based on your actual balance. For example, the APY for a balance of $10,000 will be 1.506%. Account will transfer to regular share account, effective 01/01/09, and this account will be closed. Member must be under the age of 21 at time account is opened. One account per member. Limited time offer. Other terms and conditions are the same as the Tiered Savings Account (see Member Handbook).

    *** There is a minimum savings balance fee of $3 per month unless your total deposits (the sum of savings, checking, certificate, IRA and money market balances) is at least $150. You can also avoid this fee if you have a direct deposit; a Patelco loan, credit card or line of credit; or a Free Checking account. Commitment Household members and minor accounts are exempt from this fee.

     
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