How does Instant BackUp™ Line of Credit work?
If you have an unexpected shortage of funds in your Patelco checking account, your overdraft line of credit takes over to cover you.
Once you sign up for this convenient feature, we will process your transactions on your Patelco Checking account, even if they dip your balance below $0.00. Instead of paying an overdraft fee, you’ll pay interest only on the amount you borrowed for the amount of time it’s outstanding.
No fee and low rate
No cash advance fees (unlike credit cards), plus get a competitive, fixed rate
Interest you would pay is much less than an overdraft fee
Establish or rebuild credit
With on-time payments, can help establish credit history on your credit report
No credit check
Access overdraft protection with no credit check
|Open-ended||Up to $500||17.90%|
Frequently Asked Questions
Use Patelco Online™ to manage your accounts online:
- Check balances
- Get account details
- Transfer funds and Make Payments
- Send us secure messages about your loan
- Make payments from your Patelco account
October 31, 2019
Find out how to manage your money better and improve your financial well-being. Get 10 money management tips from Patelco and begin mastering your money now!
October 29, 2019
Learn why and how you should do a budget review to keep your budget realistic. Find important questions to ask to help you manage your budget and stay on track!
August 13, 2020
How do I stay on top of my bills each month? Follow these 7 tips to better manage your monthly bills.
1 APR = Annual Percentage Rate. All loans are subject to credit approval, restrictions apply, rates are subject to change. Loan rates offered effective 4/5/2023. The APR range is 17.90% for Instant BackUp™ Line of Credit. Minimum payment is $25.00 or 2% of the unpaid balance, whichever is greater. (If balance is less than $25.00, minimum payment will be full balance owed.) To learn more about rates, terms, and exclusive discounts for members, such as Commitment Household, call 800.358.8228 or visit any Patelco branch.