Patelco Credit Union Reaches $4B Milestone.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Patelco Credit Union, serving members for over 70 years, became the 10th credit union in the country to hit the $4-billion mark in assets when it did so on November 30th. Privately insured Patelco serves over 230,000 members with 37 branches throughout California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). and a branch in Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. . It took Patelco 59 years to reach the $1 billion mark, which it did in 1995. Patelco attributes its longstanding success to consistently providing value to its members through many types of flexible and attractive deposit and loan products. In 2006, Patelco has grown $350 million by delivering outstanding new products that included flexible term, bump-rate, and high yield certificates. It also provided high rate money market accounts, premier interest checking accounts, and an award-winning health savings account A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal income tax at the time of deposit. . Loan products brought to market in recent years include a variety of affordable mortgage loans for first-time buyers first-time buyer n → persona que compra su primera vivienda first-time buyer n → personne achetant une maison ou un appartement pour la première fois first-time buyer and existing home-owners, reverse mortgages, private student loans and low rate credit cards and an outstanding Patelco Points reward program. Being the first credit union to offer check images or online insurance, Patelco has long been a leader in delivering innovative products and services. It also provides convenient access to accounts, with free online banking, billpay, access to over 25,000 nationwide ATMs and more. "It's tremendously rewarding to recognize our success with the achievement of this milestone," said Scott Waite, Patelco's Senior Vice President and Chief Financial Officer. "Having been here personally for each of the billion dollar marks, I like to remember that we got here a loan and a savings account Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: at a time. After all, we're in the business of providing financial value to each and every member that we serve. We look forward to continuing that into the future." |
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