2022 Patelco Annual Report (1) - Flipbook - Page 5
Empowering you to build your credit
We don’t just support our members’ wellbeing
through supplementary offerings like education
and anti-fraud consultations – we build it right into
our products. In 2022, we continued offering our
award-winning ScoreUp Credit Builder Loan.
With this loan, members get the chance to build
up their credit score and save money at the same
time, and it’s available especially for those with
little or no credit history, for as little as $500. Each
repayment is deposited into an associated savings
account, which is available to the member when
the loan is paid in full. To benefit a greater number
of people in our communities, we partnered with
21 United Way centers to promote the credit- and
savings-building loan.
Remaining involved in our communities
Our partnerships, like the one with United Way,
remain an integral part of how we’re involved in the
broader communities in our footprint. Some of our
highlights from 2022 included providing financial
wellbeing workshops and one-on-one financial
coaching at the SF City College Basic Needs
Center, teaming up with United Way’s Sparkpoint
to help families increase their savings and reduce
their debt, and supporting 41 financial wellbeing
partners for our most impressionable community
members: our youth.
Making it easier for you
to do business with us
While supporting our communities and your
wellbeing is important, we wouldn’t be a
successful financial institution if we didn’t
deliver a smooth day-to-day experience
for members. Behind the scenes, we made
technological improvements for our team
so that we could serve you faster and more
seamlessly – from infrastructure improvements
at our branches to phone system upgrades
to new cloud integration. On the front end,
members experienced an improved account
opening experience, three remodeled and new
branches, and an entirely new website.
We’re especially proud of our new patelco.org
website, which we designed to make it faster
for you to find the products, services, and
information you need. We designed an updated
navigation, better integrated educational
financial content across the site, and created
a more accessible experience for all our
members. Our new site reflects significant work
to adhere to the latest Americans with
Disabilities Act (ADA) standards. Modernizing
our services in these ways is critical so we
remain competitive in today’s market – and
deliver what you and our members expect from
a financial institution in 2023. This expands our
reach into our communities and lets us bring
our financial wellness difference to even more
members.
As this Annual Report reflects, we have
a rich history as a credit union serving
our members and communities. Our
ongoing success relies on how well we
serve you, and with your trust we will
continue our mission of supporting your
financial wellbeing. We are thankful to
be your trusted financial institution and
are honored to serve you. Even amidst an
uncertain global economy, we’re here to
deliver the products, services, and trusted
advice that you need, and our focus
on improving our members’ financial
wellness is job number one.
Erin Mendez
President & Chief Executive Officer
ANNUAL REPORT
2022
4