Interest Bearing Checking Account – Patelco Credit Union

Earn Interest with Your Everyday Checking

The Patelco Interest Checking account is a great option if you regularly maintain a daily balance of $500 or more and want to earn interest on your account.

The $5 monthly fee is also waived if your account is set up for a monthly direct deposit of $100 or more, or if you’re a Patelco Commitment Household Member.

Plus, payday can come even sooner when you set up direct deposit for your account. Get paid up to two days early — without an additional fee.²

It takes minutes to open a Patelco Interest Checking account.

Interest Checking Benefits

Get Paid Early with Direct Deposit²

Set up Direct Deposit and access your funds up to 2 days early

Debit Mastercard^®

Pay with confidence with Digital Wallets and Zero Liability Protection

RoundUp

Automatically grow your savings with every purchase you make

30,000+ Fee-free ATMs

Find one near you on our Mobile App

Send Money with Ease

Choose from Zelle^®, Bill Pay, wire transfers and more in our top-rated Mobile App³

Account Alerts

Automate alerts such as direct deposits or low balances to stay on top of your finances

ID	Display Order	Term	Minimum Balance Min. Balance	APY APY¹	Rate	Dividends Paid	Effective Date	Monthly Fee	Description
18056	1	None	$0.00	0.05	0.05	Monthly	01/01/2023	$5 waived with minimum daily balance of $500

Term

Minimum Balance

Min. Balance

APY

APY¹

Rate

Dividends Paid

18056

None

$0.00

0.05

Monthly

01/01/2023

$5 waived with minimum daily balance of $500

Interest-Bearing Checking FAQs

How is checking account interest calculated?

We calculate dividends on all of our accounts using the daily balance method, which applies a daily periodic rate to the balance in the account each day. No dividends will be earned on any day that the account balance is below the stated minimum to earn dividends. The daily balance method does not apply to the frequency of compounding or crediting the dividends. Dividends are credited (posted) on the last day of the dividend period.

The interest-bearing checking account dividend rate and APY are variable and can be adjusted by the Board at their sole discretion at any time. For current dividend rates and APYs, please see our website. Dividends are calculated daily and credited monthly on the last day of the month.
How do I avoid paying a monthly fee on my Patelco Interest Checking?

It’s easy to waive the $5 monthly fee if you meet one (or more) of the following requirements:

Set up monthly direct deposit of $100 or more.

Maintain a minimum daily balance of $500.

You’re a Patelco Commitment Household Member.
When will I receive my Debit Mastercard^®?

You will receive your debit card in the mail typically within 5 business days after you’ve opened your account. Or, you can pick up a debit card at a branch near you.

How do I find a no-fee ATM near me?

You can find one of the 30,000+ fee-free ATMs at patelco.org/locations or on our Mobile App.

How does it work to get paid up to 2 days early?

Members who set up direct deposits into their Patelco checking, savings, or money market accounts can get paid up to 2 days early² — so you can access your funds faster.

How do I order checks?

We recommend you place your first order of checks with a team member for security reasons. Reorders can be made through Patelco Online™ or our Mobile App.

What are the benefits of becoming a Patelco member?

Patelco is a member owned, not-for-profit financial cooperative. When you join Patelco, you become a member and a shareholder. That’s why we’ll deposit one share ($1) in your Share Savings account when you join.

Our mission is to help members achieve lifelong financial well-being so you can live happier, fuller lives.

Unlike the big banks or other for-profit financial institutions, we invest our profits back in our members with better rates and low- to no fees.

We also offer free financial coaching to anyone who wants to improve their financial situation. Members have told us that they feel seen, heard, informed, and supported to make more confident financial choices.

Membership is free. You become a member when you open an account with us. Check out all the benefits of Patelco membership.

Recommended Resources

How Do Checks Work?

Americans aren't writing as many checks, but they are still around. Learn how to write, endorse, cash, and void a check and get tips for keeping your money safe.

Types of Savings Accounts

Considering opening a savings account? Get answers to what is a savings account and the different types you have to choose from.

Prevent Debit and Credit Card Fraud

Protecting your debit and credit cards from fraud is important to keeping your finances safe. Find out how it’s as simple as remembering T-R-I-P-L-E!

¹ APY=Annual Percentage Yield. Rates are valid as of 01/01/2023.

² Early access to direct deposit funds depends on the timing of the receipt of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

³ Source: over 22,000 five-star reviews on the App Store.

Mastercard and Mastercard Global Service are registered trademarks, and the circles design is a trademark, of Mastercard International Incorporated.

Zelle and the Zelle-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

Interest Checking

Interest Rate

Monthly Fee

Earn Interest with Your Everyday Checking