Patelco Credit Union Honored with Mastercard’s 2024 “Doing Well by Doing Good” Award

Erin Mendez

Patelco Credit Union, a Bay Area-based credit union dedicated to the financial wellness of its team, members and communities, is proud to announce it has been recognized as one of Mastercard’s 2024 Segment Award winners in the “Doing Well by Doing Good” category. This prestigious award acknowledges Patelco’s outstanding use of resources to drive community service and charitable contributions that create lasting impacts.
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Presented annually, the Mastercard Segment Awards honor financial institutions that exemplify leadership and innovation in serving their communities. Patelco’s dedication to improving financial wellness and empowering underserved populations played a pivotal role in earning this recognition.

“At Patelco, we understand that financial wellness is not just about managing money—it’s about improving lives and creating opportunities for all,” said Erin Mendez, CEO of Patelco Credit Union. “Our programs focus on building resilience and dignity for individuals and families, helping them weather challenges and build legacies for the future. By investing in these initiatives and fostering partnerships, Patelco demonstrates that doing well by doing good is not just a value we hold—it’s a responsibility we embrace.”

Patelco’s purpose-driven approach has empowered thousands of individuals and families across its service areas. Key initiatives contributing to this recognition include:

Impact at a Glance

• Over 3,700 webinar attendees in 2023 and 2,500 more in Q1 2024.
• 50+ multilingual workshops supporting underbanked populations.
• $150,000 in grants supported for community nonprofits.
• Hundreds of low-income adults gained access to free checking accounts through financial wellness programs.

Financial Education:

• Reached over 10,000 individuals in 2023 through webinars on critical financial topics.
• Launched the “Small Talks for Big Change” podcast, delivering financial insights to over 2,000 listeners.
• Introduced new financial literacy curricula for high school and college students.

Support for Refugee & Migrant Populations:

• Designed savings, checking, and credit products tailored for ITIN holders.
• Partnered with the International Rescue Committee and World Relief to address the unique financial needs of migrants.
• Participated in a global study with the World Council of Credit Unions on services for refugees and migrants.

Community Giving & Volunteerism:

• Employees contributed 2,081 volunteer hours in 2023, doubling the prior year’s total.
• Partnered with United Way to provide 1,000 backpacks to students and construct playhouses for children.
• Supported nonprofits addressing food insecurity and children’s health.

Nonprofit Partnerships:

• Collaborated with United Way Bay Area’s SparkPoint Centers to host 17 workshops and distribute $100 grants to low-income families.
• Helped local nonprofits secure $150,000 in grants for affordable housing and financial wellness programs.

Innovative Resources & Fraud Prevention:

• Launched SpringFour, a tool connecting members to essential resources such as food, utilities, and healthcare.
• Established a fraud support team to provide timely scam prevention education to members.

Patelco Credit Union extends its gratitude to Mastercard for this honor and to its members, employees, and community partners for their unwavering support. Together, Patelco reaffirms its mission to create opportunities and transform lives through financial wellness and community empowerment.

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