Patelco Credit Union
Encyclopedia
The Patelco Credit Union is a community credit union
that encompasses most of Northern California
, particularly the San Francisco Bay Area
. Founded in 1936, it is one of the oldest and largest credit unions in the country. With more than $3 billion in assets, it is the 20th largest credit union in the country.
. However, in 1983 they opened its doors to the public and now operates approximately 40 branches in Northern California
and one in the Chicago area. It provides services in the form of deposits, lending, and insurance
and more recently has diversified to offer investment banking
.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
that encompasses most of Northern California
Northern California
Northern California is the northern portion of the U.S. state of California. The San Francisco Bay Area , and Sacramento as well as its metropolitan area are the main population centers...
, particularly the San Francisco Bay Area
San Francisco Bay Area
The San Francisco Bay Area, commonly known as the Bay Area, is a populated region that surrounds the San Francisco and San Pablo estuaries in Northern California. The region encompasses metropolitan areas of San Francisco, Oakland, and San Jose, along with smaller urban and rural areas...
. Founded in 1936, it is one of the oldest and largest credit unions in the country. With more than $3 billion in assets, it is the 20th largest credit union in the country.
History
The Patelco Credit Union, once served an organization formally known as Pacific Telephone & Telegraph CompanyPacific Bell
The Pacific Telephone and Telegraph Company was the name of the Bell System's telephone operations in California. It gained in size by acquiring smaller telephone companies along the Pacific coast, such as Sunset Telephone & Telegraph in 1917...
. However, in 1983 they opened its doors to the public and now operates approximately 40 branches in Northern California
Northern California
Northern California is the northern portion of the U.S. state of California. The San Francisco Bay Area , and Sacramento as well as its metropolitan area are the main population centers...
and one in the Chicago area. It provides services in the form of deposits, lending, and insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and more recently has diversified to offer investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
.
Board of Directors
- John Rubino, Chairman
- Peter Hanelt, 1st Vice-Chairman
- Garick Zillgitt, 2nd Vice-Chairman
- Vickie Rath, Secretary
- Kenneth Burns, Treasurer
- Gene Bell, Director
- Colleen Cabey, Director
- Race Chen, Director
- Jesse Rivera, Director
- Tracey Scott, Director
- Gerald Upson, Director