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Patelco is a member-owned, not-for-profit financial cooperative focused on helping you achieve lifelong financial well-being. That's why we offer better rates than the big banks and low- to no-fees, along with unparalleled service and advice tailored to your needs.
No fees, no minimum balance. Just convenience and security.
- $0 monthly fee
- No minimum balance
- Overdraft transfers from savings or line of credit
- Debit Mastercard with price protection for purchases
Stop worrying about hidden fees. When we say free, we mean it. Compare the savings in the chart below.
|Bank of America
Advantage Plus Banking
|Minimum Daily Balance
to avoid monthly fee
|Direct Deposit Qualifier
to avoid monthly fee
|No qualifier required||Minimum $250||Minimum $500|
- Competitive car loan rates starting at 2.35% APR¹
- Up to 90 days of no car payments2
- Up to 84 month terms for a new or used car purchase or refinance
- We’ll automatically lower your rate up to 0.50% APR per year for making 12 months of payments on time, and up to 1.50% APR over the life of your loan3 if you didn’t qualify for the lowest rate upfront.
Home Equity Line of Credit
Make the most of your home
- Low, variable interest rate starting at 3.750% APR4
- No closing costs up to $250,0005
- Borrow what you need, when you need it, up to your credit limit
- Interest-only payments for the first 10 years, followed by 15-year repayment period
- No annual fee, no prepayment penalty, and no early closure fee
1 APR (Annual Percentage Rate). Auto rates starting at 2.35% APR effective 10/7/2021; subject to change without notice. Patelco offers a range of base rates and discounts that depend on factors such as credit history, loan term, Patelco account relationship, amount financed and vehicle age. Additional discounts may apply. Actual rates are disclosed to approved applicants in writing prior to loan consummation and may be as high as 15.30% APR. To learn more about rates, terms, and exclusive discounts for members, such as Commitment Household, call 800.358.8228 or visit any Patelco branch. Loan payment example: $21.87 per month per $1000 borrowed at 2.35% APR for 48 months.
2 At closing, you have the option to select up to 90 days of deferred loan payments on your new or used auto loan. The actual number of days will depend on the terms of the loan. Interest will accrue on your auto loan beginning on the date the loan is funded and the first payment will be applied to interest accrued from the date the loan is funded to the first payment date and then to principal due.
3 LevelUp (formerly the Timely Repayment Incentive Program aka TRIP) is offered to members who are approved for the following loans at Patelco's credit tier 2 or higher: auto, motorcycle, RV, boat, and personal loans, excluding all lines of credit. Total discount of up to 1.50% APR (Annual Percentage Rate) applied in 0.50% APR increments for every 12 consecutive on-time monthly payments. Maximum discount will never cause the final APR to be lower than the LevelUp floor rate for the specific loan and term at time of funding. Monthly payment amount remains constant, with additional money going toward principal, which shortens the term of the loan and the total amount paid over the life of the loan.
4 3.750% APR (annual percentage rate) and other terms shown are accurate as of 10/15/2021 and apply to a HELOC for the most qualified applicant at CLTV up to 80%. Not all applicants will qualify for the lowest rate. Rates vary based on property value, line amount and other factors, and will vary for second or vacation homes. The minimum periodic payment is interest-only for the first ten years (“draw period”) followed by fully-amortizing payments to repay the balance over the final fifteen years. No draws will be allowed during the repayment period. Payments and rate can adjust monthly. Payments will increase if rates increase. At the end of the draw period, your required monthly payments will increase because you will be paying both principal and interest. The rate is calculated using an index plus a margin. The index used is the Prime Rate as published in The Wall Street Journal Western Edition on the last business day of the month prior to the change. The current prime index is 3.25% APR. Minimum interest rate is 3% and maximum interest rate is 17% APR. Home Equity loans and lines of credit are available on California properties only.
5 The minimum credit line amount is $10,000 and the maximum is $500,000. Patelco Credit Union will pay customary closing costs on lines up to $250,000 in second lien position. Borrower is responsible for closing costs on lines in first lien position or over $250,000. Closing costs range from $0 to $2,500. This offer does not include escrow or recording fees that may result from changes in title or vesting.