Golden 1 Credit Union Review

If you’re seeking a dependable financial institution in California, look no further than Golden 1 Credit Union. Founded in 1933, Golden 1 is one of the leading credit unions nationwide.

What is Golden 1 Credit Union?

A Leading Financial Cooperative

Golden 1 Credit Union is a major financial cooperative in California and ranks among the top credit unions in the United States. Established in 1933 as the California State Employees Credit Union #1, it adopted its current name in 1977. With over $18 billion in assets and more than 1.1 million members, Golden 1 is a key player in the financial services industry.

Comprehensive Banking Services

Golden 1 offers a variety of financial products and services tailored to meet member needs, including:

• Consumer checking and savings accounts
• Loans and credit cards
• Online and mobile banking
• Investment and insurance options

Members can access their accounts through 73 branches, seven Home Loan Centers, and over 30,000 ATMs nationwide for 24/7 access.

Member-Focused Approach

As a member-owned credit union, Golden 1 focuses on providing higher savings yields, lower loan rates, and exceptional member service. Their commitment extends into the community, actively supporting education, urban farming, and community health initiatives.

Notable Achievements

Golden 1’s achievements reflect its excellence. The credit union is certified as a Great Place to Work, highlighting its positive workplace culture. Additionally, Golden 1 secured the naming rights for the Sacramento Kings' home arena, the Golden 1 Center, in a landmark 20-year deal valued at $120 million.

Golden 1 Credit Union Products and Services

Comprehensive Banking Solutions

Golden 1 Credit Union offers both personal and business banking products. Checking accounts range from Free Checking for simple usage to Market Rate Checking and Student Checking for those aged 13 to 24, each featuring unique benefits.

Savings and Investment Options

Golden 1 provides a range of savings products to help members build wealth. Options include basic Savings Accounts, Youth Savings, and Santa Saver accounts. They also offer money market accounts, term savings certificates, and individual retirement accounts (IRAs) for long-term needs.

Loans and Credit Products

Golden 1 offers diverse loan options, from home and auto loans to personal loans for various life events. Credit card options include the Member Cash Rewards+ Card and the Member Rate Advantage Card, each offering distinct benefits.

Digital Banking and Financial Wellness

Golden 1 is aligned with the digital world, offering online and mobile banking services such as bill pay, mobile deposits, and account alerts. Additionally, their Financial Wellness Center provides resources for informed financial decision-making and maintaining healthy finances.

Fees and Rates at Golden 1 Credit Union

Checking Account Options

Golden 1 Credit Union offers a variety of checking accounts to suit individual needs. The Free Checking account has no minimum deposit or monthly maintenance fee. Easy Checking provides a no-frills account with no overdraft fees, while MarketRate Checking offers higher rates on balances of $10,000 or more. Premium Checking pays dividends and requires a minimum daily balance of $1,000.

Savings and Investment Rates

Golden 1’s savings accounts are competitive, with some earning up to 4.00% APY. The Growth Savings account offers the highest yields for new savers on balances up to $1,000. Money Market Savings pays tiered interest rates, with a top APY of 1.50% for balances of at least $500,000.

Loan and Credit Card Rates

Golden 1 offers competitive loan rates: new auto loans start at 6.04% APR, and personal loans at 8.89% APR. Credit card options include the Member Cash Rewards+ with an APR of 16.29% to 22.29% and the Member Rate Advantage ranging from 12.29% to 18.29% APR. None of the credit cards carry an annual fee, offering favorable terms for active members.

Is Golden 1 Credit Union Right for You?

Membership and Accessibility

As one of the largest credit unions in the U.S., Golden 1 has over $20 billion in assets and more than 1 million members. California residents or workers are eligible for membership, with access to 70 branches and over 30,000 fee-free ATMs through the Golden 1 and CO-OP networks.

Account Options and Fees

Golden 1 offers accounts with user-friendly features. The Free Checking account has no monthly fees or minimum balance requirements, with free overdraft protection. The Regular Savings Account requires just a $1 minimum balance and no monthly fees. However, APYs for savings and checking accounts may be lower compared to some online banks.

Competitive CD Rates and Special Offerings

Golden 1 offers competitive CD rates with terms from 3 months to 5 years, with APYs peaking at 3.80% at higher balance tiers. Additionally, the “Golden Prestige” package for members aged 62 and over includes no monthly fees and free checks.

Conclusion

Golden 1 Credit Union is a solid choice for Californians seeking personalized service and competitive rates. With an extensive branch network, robust digital platforms, and a commitment to member satisfaction, Golden 1 provides a comprehensive financial experience.