Wednesday, November 28, 2007

Patelco Credit Union Rate Update, Yields up to 8.00%

Patelco Credit Union offers a number of high yielding share certificates and savings accounts. They have been offering 5.50% apy on a 9 month share certificate since July. This yield is good for both regular and IRA share certificates. Regular share certificates have a $1,000 minimum deposit requirement, IRA share certificates require $500.

The credit union also is offering 5.15% apy on IRA share certificates with terms of 12-23 months and 5.40% apy on IRA share certificates with maturities ranging from 24 to 35 months. The minimum deposit requirement for these certificates is $500.

Patelco Credit Union also continues to offer a 7.00% apy new member special with a $1,000 min/max deposit requirement. I originally posted on this back in June.

For those 21 and under, Patelco offers 8.00% apy on the first $1,000 in their "gr8 r8" youth share savings account through 12/31/2008. I posted on this account back in August.

Field of membership in Patelco Credit Union is open to a wide variety of groups and organizations. Anyone who isn't otherwise eligible for membership can become eligible by joining the California Association for Older Americans which is open to anyone regardless of age or geographic location. Simply indicate California Association for Older Americans on your application for Patelco credit union membership.

Patelco Credit Union is privately insured by American Share Insurance up to $250,000 per account and is not currently federally insured. They have announced that they will be switching to federally backed NCUA insurance effective January 1st, 2008.


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