How Patelco Is Helping Members Achieve Savings Goals

Seeing low levels of financial resiliency, the California-based institution created products to help members meet their short-, medium-, and long-term goals.

Callahan & Associates

By Callahan & Associates


Based on its own research, Patelco Credit Union ($5.1B, Pleasanton, CA) found that Americans are not planning ahead and are making poor financial decisions.

According to Melissa Morgan, senior vice president and chief retail officer:

  • 40% of Americans are living paycheck to paycheck
  • 24% have less than $250 in their bank account
  • The millennial savings rate is -2%
  • Personal savings rates have dropped post recession

"We've all seen the sobering statistics in terms of how fragile so many American families are," Morgan says.

To help meet that need, the credit union created products to help members meet short-, medium-, and long-term goals. Watch the video above to learn more.

This video appeared originally as a part of Callahan's "Trendwatch 1Q 2016" webinar.

Watch NOW

Read more about the event in "3 Takeaways From Trendwatch 1Q 2016

Back to Videos




No comments have been posted yet. Be the first one.