San Mateo Credit Union has served our community since 1952. We’re a member-owned financial institution with over 100,000 members. Our focus is on providing personalized financial solutions for individuals and businesses in San Mateo County.
We understand our community’s unique needs and challenges. Our goal is to be your trusted financial partner. We offer savings accounts, checking accounts, loans, mortgages, and investment planning services.
Key Takeaways
- San Mateo Credit Union is a member-owned financial institution serving the San Mateo County community since 1952.
- The credit union offers a wide range of personal and business banking services, including savings, checking, loans, and investment planning.
- As a community-focused organization, San Mateo Credit Union is dedicated to providing personalized financial solutions and supporting the local area.
- The credit union has experienced significant growth in its mortgage lending, with a 25% increase in 2020.
- San Mateo Credit Union has also played a role in supporting small and medium-sized businesses in the community through various relief programs.
Introduction to San Mateo Credit Union
Monterra Credit Union has been serving the community since 1952. This member-owned financial institution was formerly known as San Mateo Credit Union. For over 70 years, they’ve been a trusted partner for their members.
Monterra Credit Union – Formerly San Mateo Credit Union
Monterra Credit Union, previously San Mateo Credit Union, started in 1952. It’s a $1.68-billion credit union with about 94,000 members. The credit union is deeply committed to promoting financial well-being and education.
A Member-Owned Financial Institution Serving the Community Since 1952
Monterra Credit Union puts its members first. They offer various financial products and services tailored to members’ needs. These include checking accounts, savings accounts, loans, investments, and insurance.
The credit union focuses on financial literacy and community involvement. This has made them a trusted partner for local individuals and families.
“We are proud to have served the San Mateo County community for over 70 years, and our commitment to our members remains steadfast. As Monterra Credit Union, we are excited to enter a new chapter while staying true to our roots and continuing to provide personalized financial solutions that help our members thrive.”
Comprehensive Financial Services
San Mateo Credit Union offers a full range of financial services to meet diverse needs. Our team of experts is ready to help you save, borrow, or plan for the future. We’re here to guide you through every financial step.
Savings and Checking Accounts
Build your financial security with our savings accounts and checking accounts. Enjoy competitive interest rates and handy features for easy money management. Our accounts help you handle daily finances and reach long-term goals.
Loans and Mortgages
Need support for a big purchase or investment? Our loan and mortgage options are here to help. We offer low-interest rates and flexible repayment terms for various needs.
From auto loans to home financing, we have options to help you achieve your dreams.
Investment and Retirement Planning
Want to grow your wealth for the future? Our investment services and retirement planning solutions can help. We’ll work with you to build a portfolio that matches your goals and risk comfort.
Our experienced financial advisors can create a personal strategy for your long-term success.
| Financial Service | Key Features |
|---|---|
| Savings Accounts | Competitive interest rates, no monthly fees, easy access to funds |
| Checking Accounts | Free online banking, mobile app, debit card, overdraft protection |
| Loans | Low-interest rates, flexible repayment terms, fast approval process |
| Mortgages | Fixed-rate and adjustable-rate options, first-time buyer programs |
| Investment Services | Retirement planning, portfolio management, financial advising |
San Mateo Credit Union is dedicated to supporting your financial services needs. Discover our wide range of offerings today. Let’s work together to achieve your financial dreams.
San Mateo Credit Union: Convenient Access
San Mateo Credit Union offers easy access to financial services. We have seven branches in San Mateo County. Our local presence provides personalized support when you need it most.
Seven Branch Locations in San Mateo County
Our seven branches are spread across San Mateo County. Members can easily visit their accounts and talk to our expert staff. You’ll find a branch nearby, ready to help with your banking needs.
Full ATM Services
San Mateo Credit Union has a wide ATM network. You can withdraw cash, check balances, and transfer funds anytime. Our ATMs make it simple to manage your money on the go.
Comprehensive Online Banking System
We offer a user-friendly online banking platform. You can securely access accounts, pay bills, and transfer funds from home. Our mobile app lets you apply for loans and manage finances anywhere.
“San Mateo Credit Union’s convenient access has transformed my banking experience. I can manage my finances easily, no matter where I am.”
– [Member Name], San Mateo County Resident
Membership Eligibility and Benefits
Monterra Credit Union welcomes a diverse group of individuals. You can join if you live, work, worship, or study in San Mateo County. Eligibility also covers Palo Alto and parts of San Francisco.
Our members enjoy exclusive perks. These include special loan rates and deposit account bonuses. We also offer early access to car sales.
San Mateo County employees receive extra benefits. They get a $50 bonus for opening a checking account. A $100 bonus awaits them on new deposit accounts.
More perks include credit towards appraisal fees. They also get a 12-month 2.99% APR on our credit card. This applies to purchases and balance transfers.
Joining Monterra Credit Union means accessing top-notch financial services. You’ll be part of a community-driven institution that prioritizes your needs. Experience the difference with a credit union that truly cares.
“Monterra Credit Union has been a valuable partner in our financial journey. The exclusive benefits and personalized service they provide have made a real difference in our lives.”
– Jane Doe, Monterra Credit Union Member
Community Involvement and Partnerships
Monterra Credit Union is deeply committed to San Mateo County. We’ve built strong partnerships to make a real difference in locals’ lives.
San Mateo County Employees Partnership
We offer exclusive benefits to San Mateo County employees. Our partnership lets us provide personalized financial solutions for public service workers.
Down Payment Assistance Program
Monterra Credit Union helps make homeownership dreams come true. Our program assists first-time buyers in San Mateo County with down payments.
Quick Cash Loan Program
Life can be unpredictable, bringing sudden financial needs. Our Quick Cash Loan Program gives county employees fast access to funds.
| Partner Level | Donation Amount | Benefits |
|---|---|---|
| Visionary Partners | $100,000 or more | Signage for one year at a chosen program site and headquarters lobby |
| Humanitarian Partners | $50,000 or more | Corporate profile on Peninsula Family Service’s website |
| Heart of Gold Partners | $25,000 or more | Insider’s lunch with the CEO, board members, and recognition in the lobby |
| Luminary Partners | $10,000 or more | Premium seating at events and updates from program directors |
| Champion Partners | $5,000 or more | Framed partner recognition and an invitation to an exclusive event |
| Leadership Partners | $2,500 or more | Recognition at an annual thank you event and a personalized tour |
| Cornerstone Partners | $1,000 or more | Listed in the Annual Report and on the website |
| Helping Hands Partners | Up to $1,000 | Names listed among a variety of companies and foundations that support the cause |
Our community involvement goes beyond these programs. We partner with Habitat for Humanity, the American Cancer Society, and local schools.
“Monterra Credit Union’s commitment to San Mateo County is truly inspiring. Their work has made a real difference in our residents’ lives.”
– Jane Doe, San Mateo County Supervisor
Financial Education Resources
San Mateo Credit Union empowers members with vital financial knowledge and tools. We offer comprehensive resources, including Balance Financial Counseling and Everfi online courses.
Balance Financial Counseling
Balance Financial Counseling has provided expert guidance since 1969. They have over 50 trained financial counselors on staff. These experts offer personalized help for debt, credit scores, and spending habits.
Balance’s counselors are ready to assist with various financial challenges. They can help with credit card debt and debt consolidation. Their tailored plans guide members towards financial well-being.
Everfi Online Courses
We also provide Everfi online courses covering many financial topics. These self-paced modules cover budgeting, savings, investments, and home ownership. Members can take control of their financial future with these resources.
Our courses offer valuable insights for all financial levels. Young adults and seasoned savers alike can benefit. These multimedia-rich modules help build a solid financial foundation.
Financial education is key to unlocking financial freedom. We’re proud to offer these resources to our members. They empower individuals to achieve their goals and build a brighter future.
| Financial Education Resource | Key Benefits |
|---|---|
| Balance Financial Counseling |
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| Everfi Online Courses |
|
“Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turns it into more) and how that person donates it to help others.”
Better Rates and Lower Fees
San Mateo Credit Union offers better rates and lower fees than traditional banks. As a member-owned financial cooperative, it focuses on members’ financial well-being. Their products and services are designed to provide maximum value and support.
San Mateo Credit Union has various mortgage options with competitive rates. These include 30, 20, and 15 Year Fixed, FHA 30 Year Fixed, and VA 30 Year Fixed. Their Community First Mortgage works with top lenders in San Mateo County, California.
| Mortgage Option | Rates |
|---|---|
| 30 Year Fixed | 4.25% |
| 20 Year Fixed | 3.75% |
| 15 Year Fixed | 3.50% |
| FHA 30 Year Fixed | 4.00% |
| VA 30 Year Fixed | 3.75% |
Community First Mortgage doesn’t charge loan processing fees, unlike many other lenders. They’re transparent about their compensation structure, ensuring clients understand all charges.
Credit unions often offer higher savings rates and lower loan rates than big banks. They provide more deposit insurance coverage through organizations like American Share Insurance.
San Mateo Credit Union provides better rates, lower fees, and a member-focused approach. It’s an excellent choice for your banking with credit union needs, prioritizing your financial success.
Member-Centric Approach and Values
Monterra Credit Union prioritizes its members’ needs. They offer personalized financial solutions and exceptional service. As a community-focused organization, Monterra supports local residents and aims to be a trusted financial partner.
Putting Members First
Monterra’s member-centric approach shapes all operations. Their financial experts understand each member’s unique goals. They tailor products and services to help members succeed.
Monterra provides personalized advice, flexible loans, and innovative digital banking tools. These resources help members reach their financial milestones.
Community-Focused
Monterra Credit Union has deep roots in the local area. They support community initiatives and sponsor local events. The credit union partners with non-profit organizations to invest in community well-being.
This commitment shows Monterra’s values of social responsibility and shared prosperity.
Financial Partners for Life
Monterra aims to guide members through every financial stage. Their experts help with saving, retirement planning, and managing unexpected costs. The credit union empowers members to make informed decisions and achieve their goals.
“At Monterra Credit Union, our members are at the heart of everything we do. We are committed to being a trusted financial partner that puts their needs first and helps them build a secure financial future.”
The Monterra Credit Union Rebrand
San Mateo Credit Union rebranded to Monterra Credit Union in 2022. This change showcases their dedication to innovative financial solutions and exceptional member service. It also highlights their focus on community pride and growth.
The rebrand reflects the credit union’s 70-year history in the San Francisco Bay Area. It marks a new era of serving their members with a forward-looking approach.
Reflecting Community Pride and Growth
The name “Monterra” pays tribute to the local area. “Mont” refers to nearby mountains, while “Terra” symbolizes deep community roots. This new identity strengthens the credit union’s connection with San Mateo County.
Monterra Credit Union aims to serve diverse member needs. They’re committed to fostering a stronger bond with the vibrant local region.
A New Chapter, Same Commitment
Despite the name change, Monterra Credit Union’s dedication remains strong. The full transition to the new brand will finish by February 2024. This marks an exciting new chapter in their history.
Officials stress that this rebrand focuses on clarity and inclusivity. It ensures their mission to serve various individuals and families shines through all operations.
Monterra Credit Union boasts $1.68 billion in assets and serves about 94,000 members. They continue to be a trusted financial partner, offering comprehensive products and services.
“The rebranding to Monterra Credit Union is a testament to our commitment to the community and our members. It’s a new chapter in our story, but our dedication to providing exceptional financial services and supporting the growth of San Mateo County remains unwavering.”
– Monterra Credit Union Official
Conclusion
Monterra Credit Union has served San Mateo County for over 70 years. As a member-owned institution, it offers personalized financial solutions and competitive rates. Monterra meets the changing needs of its members with a wide range of services.
The credit union provides convenient branch locations and comprehensive online banking. Its community focus is clear through support for local nonprofits and scholarship programs. Monterra also offers financial literacy workshops and participates in community events.
In 2018, Monterra reported nearly 92,000 members and over $1 billion in assets. The credit union has shown impressive growth in mortgage and auto loan fundings. It has also seen increases in net worth and new member acquisitions.
Monterra Credit Union continues to be a reliable partner for local residents and businesses. Its strong financial foundation allows it to meet diverse member needs. The credit union’s commitment to the community remains at the heart of its mission.
FAQ
What is Monterra Credit Union, and how is it related to San Mateo Credit Union?
Monterra Credit Union is a member-owned financial institution serving San Mateo County since 1952. It rebranded from San Mateo Credit Union in 2022. The credit union maintains its dedication to the local community and members.
What types of financial services does Monterra Credit Union offer?
Monterra Credit Union provides a wide range of financial services. These include savings and checking accounts, low-interest loans, and mortgages. They also offer investment and retirement planning solutions.
How can members access Monterra Credit Union’s services?
Monterra Credit Union has seven branches throughout San Mateo County for in-person service. They also provide full ATM services and online banking. Members can manage their accounts anytime and anywhere through these options.
Who is eligible for Monterra Credit Union membership?
Monterra Credit Union welcomes people who live, work, worship, or study in San Mateo County. Eligibility also extends to residents of Palo Alto and certain areas of San Francisco. Members enjoy exclusive benefits like special loan rates and deposit account bonuses.
How is Monterra Credit Union involved in the local community?
Monterra Credit Union is deeply rooted in the San Mateo County community. They partner with San Mateo County Employees, offering exclusive benefits and services. The credit union also provides Down Payment Assistance and Quick Cash Loan programs.
What financial education resources does Monterra Credit Union offer?
Monterra Credit Union offers Balance Financial Counseling and Everfi online courses. These programs cover budgeting, savings, investments, and credit management. They aim to help members make smart financial decisions.
What are the advantages of banking with Monterra Credit Union?
Monterra Credit Union offers better rates and lower fees than traditional banks. As a member-owned institution, they prioritize their members’ financial well-being. Their products and services are designed to support members’ financial goals.