Patelco Credit Union free essay sample

An audit report of this financial institution. This paper presents an audit of the Patelco Credit Union. An overview of the company and the services it provides is given. The audit included an analysis of operational, financial, and compliance procedures and controls and involved review of staff procedure, completion of diagnostic review questionnaires, and tests of controls. Recommendations for future activity are offered. Patelco Credit Union is a full-service financial institution providing a variety of financial products and services. The company is based in San Francisco and chartered in California. Patelco was chartered in 1936 in the State of California as the credit union to serve the employees of Pacific Telephone and Telegraph Company. Its original name was SF Patelco Credit Union. One of the founders, George B. Lake, Jr., stated that initial assets at the time were $500. More than 60 years later, Patelco has approximately 195,000 members with assets exceeding $2.6 billion. Patelco is the third largest credit union in California. We will write a custom essay sample on Patelco Credit Union or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Patelco is a cooperative financial institution, owned and controlled by the people who use its services. These people are members. It serve groups that share something in common, such as where they work, live, or go to church. Patelco not-for-profit, and exists to provide a safe, convenient place for members to save money and to get loans at reasonable rates.