Patelco Expands into Health Savings Accounts

SAN FRANCISCO - January 19, 2006

Patelco Credit Union, among the nation's largest credit unions, recently began offering an extremely attractive Health Savings Account to its members. The Patelco Health Savings Account features a high 5.12% Annual Percentage Yield with a 5.00% rate. Offering more than just a great rate, Patelco's account has low to no fees, and a low opening deposit of just $5. Funds are easily accessible through an HSA debit card or through HSA checks. With no annual fee for at least the first year, and a low $12 annual fee thereafter, this account is among the best in the nation.

"We are proud to be helping our membership save for their healthcare expenses with this great new account," said Andrew Hunter, President and CEO of Patelco Credit Union. "Our goal is to provide member value for all our members' financial needs. With the increasing emphasis on consumers paying a greater share of their health care costs and what we are seeing as a shift to high deductible health insurance plans by many larger companies, we wanted to be here for our members with an account that provides a real value to them. We are providing high rates, low fees, and easy access to their funds when they need them."

Patelco members benefit from an extensive full-service branch network, free online banking and BillPay, mortgage, investment and insurance services, and competitive rates on savings and loan products. Patelco serves employees from a wide range of businesses, and its charters in branch communities provide the opportunity for anyone who lives, works or worships in those communities to benefit from credit union membership.

San Francisco-based Patelco Credit Union is a national credit union serving over 205,000 members nationwide. Formed in 1936 with just $500 in assets, Patelco now has $3.7 billion in assets and ranks among the largest credit unions in the nation.

CONTACT:

Patelco Credit Union
Alison Jones
415-442-7190
[email protected]