As quoted from their website, “Like most credit unions, Patelco was founded to serve the financial interests of employees of a particular organization – in our case thePacific Telephone andTelegraphCompany (now part of AT&T). The year was 1936, and Patelco’s initial assets totaled a mere $500.
With assets now totaling more than $3.9 billion and 270,000 members nationwide, we are among the largest credit unions in the nation today. As a, not–for–profit, full–service financial institution, what we earn, we return to our members in savings from lower loan rates, fewer fees, and personalized service that focus on transparency, simplicity, and trust. We’re federally insured, and dedicated to helping our members and our communities prosper through volunteer initiatives and we have expanded our field of membership to serve the employees of over 1,000 large and small businesses and communities throughout California and the United States”. This credit union primarily lends to members in California, but it also has a sizeable percentage of members outside of the State who retain their services on a regular basis. As one of the largest credit unions in the nation it provides very flexible lending terms on a variety of vehicles such as; cars, boats, RV’s, motorcycles and real estate.
As the economy has produced lackluster results in the last few years, like other lenders, Patelco CU has seen an influx of repossessed homes and vehicles on their books. As an innovative approach, Patelco has been able to provide these credit union repo’s for sale right back to the public. As an added bonus they have the ability to finance interested buyers too. Patelco Credit Union has a special section on their web site designated for listing credit union repossessions.
For California car and homes buyers interested in low priced credit union repo’s they are listed for sale on the-Patelco Credit Union repo list.
Many consumers are pleasantly surprised to find out how simple it can be when buying from a credit union. Unlike a high pressure salesman, you are able to take your time and do your own research, yet at the same time you have the reassurance that Patelco is an expert in real estate and vehicle transactions. In most cases all offers are considered considering there is no incentive for a credit union hold onto the repossession. Interested buyers throughout California can find repo cars, boats, ATV’s, motorcycles, real estate, and more available at Patelco CU.
If you decide that buying a foreclosed home or repo car, you’ll want to contact a representative at Patelco as soon as you can. Repo’s typically sell quickly because of their discounted price. As a general rule, repossessions are sold “as-is”, so make sure you properly inspect anything you intend to buy. It’s not a bad idea to have a trusted mechanic or real estate professional help reassure you on your decision too.