Patelco Credit Union The Patelco Credit Union is primarily based in the state of California but its fast expansion has led to a branch in Chicago, Illinois. As of January 2008, the Patelco Credit Union has total assets that are over $4 billion. Like all credit unions, it is based on the principle of cooperation in which people help each other in order to achieve similar financial goals. The Patelco Credit Union has built a sophisticated system so that it can meet all the needs of its members. This can be seen in the way this credit union has structured the products and services that it offers. The Patelco Credit Union offers various savings and checking accounts that will cater to the varying needs and capacities of the members. For example, members may take advantage of the free checking account in which there is no minimum balance required. This free checking account comes with free overdraft protection, free online banking, no monthly fee, and access to ATMs and telephone banking. The other types of checking accounts offered by Patelco Credit Union enjoy the same benefits and pay interest. The Patelco Credit Union provides loans to its members who are taking significant financial steps, whether big or small. For example, if a member plans to purchase a computer, this credit union has a specific loan that offer low interest rates and long loan terms up to two years. And if a member wanted to purchase a car, the Patelco Credit Union also has an auto loan. In many cases, the auto loan can provide 100% financing for up to seven years for new cars and up to five years for old cars. Aside from the computer loan and the auto loan, there are other loans available from Patelco Credit Union. Some of them are home loans, RV loans, boat loans, debt consolidation loans, and secured loans. The Patelco Credit Union also guides its members who are keen on making investments. This credit union has experienced financial advisors that can inform, recommend, and counsel the members on various financial decisions. There is no fear that the money will be invested in rogue pursuits that have low probability of return. With these financial advisors, the hard-earned money of the members will not only be protected but will also increase. The Patelco Credit Union also offers insurance services in order to further protect its members. This insurance can be for the home or for the member who may obtain a disability. This credit union is not an insurance company. But it works with insurance companies who have respectable reputations in the industry, such as MetLife, Travelers, and Hartford. And finally, in keeping with the concept that the members have different financial goals and situations, the Patelco Credit Union provides tools and resources. These tools and resources include financial calculators, educational seminars, and even credit counseling. For example, with the Patelco Credit Union's program called Balance, the members who are facing a financial crisis will be helped by a counselor who can give informed advice.