• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
APY GUY: Maximize Your Savings & Earnings

APY GUY: Maximize Your Savings & Earnings

MENUMENU
  • Saving and Spending
    • CDs
      • CD Rates Forecast 2022 – Will Rates Go Up in October and November?
      • Capital One CD Rates
      • Ally Bank CD Rates
      • Chase CD Rates
      • Citibank CD Rates
      • Discover Bank CD Rates
      • US Bank CD Rates
      • Fidelity CD Rates
      • Edward Jones CD Rates
      • Charles Schwab CD Rates
      • Navy Federal Credit Union CD Rates
      • Vanguard CD Rates
    • Savings
      • Best High Yield Online Savings Accounts for 2023
      • Affirm Savings
      • Aspiration Spend & Save
      • Bask Bank High Interest Savings
      • Citi Accelerate Savings
      • Citizens Access Online Savings Account – 2.35% APY!
      • Fitness Bank Savings Review – Now up to 3.60% APY!
      • LendingClub High Yield Savings – Now 2.75% APY!
      • Smarty Pig
      • Synchrony High Yield Savings Account – Now 2.45% APY!
      • UFB Direct Savings Account – Now 3.01% APY!
      • Alternatives to CDs and Savings
    • Checking & Debit
      • 25+ Best Debit Cards for Kids & Teens [December, 2022]
      • Best Bank Promotions & Cash Bonuses for 2022
      • Citibank Checking Account Bonuses
      • Huntington Bank Bonuses
      • PNC Bank Bonuses
      • Truist Bank Bonuses
      • Wells Fargo Checking Account Bonus
      • Chase First Banking
      • Fidelity Youth Account
      • Verizon Family Money
      • Copper Banking
      • BusyKid
      • Greenlight
  • Investing
    • Real Estate
      • Top 8 Real Estate Crowdfunding Platforms for 2022
      • Yieldstreet Review 2022 – 9.71% Avg Annual Returns
      • CrowdStreet
      • Fundrise Review: Compare Annual Returns vs Competitors
    • Stocks & More
      • Best Stock Screening Service
      • MotleyFool
      • Stansberry Research
      • Seeking Alpha
      • Zacks Investment Research
      • Citi Personal Wealth Management
      • Robinhood Cash Management
      • Fidelity Cash Management
You are here: Home / CD Rates / Golden 1 Credit Union CD Rates – Up to 3.75% APY!

Golden 1 Credit Union CD Rates – Up to 3.75% APY!

Lauren Graves
December 5, 2022

Founded in 1933 in Sacramento, California, Golden 1 Credit Union began as a financial institution for employees of California and was created under the name California State Employees’ Credit Union #1. Today, it is known as Golden 1. 

This financial institution controls more than $18 billion in consumer assets with over 70 branches and home loan centers across the state of California. As of 2022, Golden 1 Credit Union has more than 1.1 million member-owners.

Golden 1 is a member-only credit union. To become a member, you must be a resident of California. Learn more about how to join this credit union, what products are available, how competitive the certificates of deposit are, and whether or not this credit union is a good fit for you here.

In this post you'll learn:

  • Certificates of Deposit
  • Promotional CD Rates
  • Standard Term Savings Certificate Rates
  • Funding the CD
  • Compounding Interest
  • Grace Period and Early Withdrawal Fees
  • How to Become a Member
  • Consumer Sentiment & Reviews

Certificates of Deposit

image credit: golden1.com

There are now two types of certificates of deposit with Golden 1 Credit Union – their standard term CDs and their limited time promotional CDs.

Their promotional CDs are new additions to their deposit account product suite. They only have 3 terms available and the yields are higher than their standard CDs.

Promotional CD Rates

Most of Golden 1 Credit Union’s promotional CDs require a minimum deposit of $50,000 to earn the advertised rate, but one can be opened with lower amounts. See table below.

CD TermMin. DepositAPY
27 months$50,0003.75%
35 months$50,0003.00%
35 months$5002.75%
APY = Annual Percentage Yield

Their standard CDs are referred to as term savings certificates. These CDs are available in term lengths from 3 to 60 months.

For standard CDs, Golden 1 uses a tiered rate structure that awards higher interest rates for higher balances. See the interest rates available now in the table below.

Standard Term Savings Certificate Rates

Term$500 – $9,999.99$10,000 – $24,999.99$25,000 – $49,999.99$50,000 – $99,999.99$100,000+
3 – 5 months0.60% APY0.60% APY0.60% APY0.60% APY1.00% APY
6 – 11 months1.00% APY1.00% APY1.00% APY1.00% APY1.10% APY
12 – 17 months1.30% APY1.30% APY1.30% APY1.30% APY1.40% APY
18 – 23 months1.30% APY1.30% APY1.30% APY1.30% APY1.40% APY
24 – 35 months1.70% APY1.70% APY1.70% APY1.70% APY1.80% APY
36 – 47 months1.80% APY1.80% APY1.80% APY1.80% APY1.90% APY
48 – 59 months2.00% APY2.00% APY2.00% APY2.00% APY2.10% APY
60 months2.50% APY2.50% APY2.50% APY2.50% APY2.60% APY
APY = annual percentage yield

Wondering how these rates compare to other CDs? The national average interest rate on a 6-month certificate is 0.52%, on a 12-month CD is 0.90%, on a 24-month CD is 0.91%, and on a 60-month CD is 0.98% according to recent FDIC data.

That said, following the FED’s fourth consecutive rate hike of 0.75% in early November, top 12 month and 60 month CDs offered by FDIC-insured online banks are now rising above the 4.00% APY and 4.50% APY mark, respectively.

Funding the CD

You can fund this account using any of the following methods:

  • Mobile or paper check deposit
  • Cash deposit
  • ACH transfer (initiated by Golden 1 or an external bank)
  • Domestic wire transfer

As with most CDs, you are not permitted to make additional deposits into this account after opening and funding it.

The minimum deposit requirement when opening this account is $500, which is fairly average for similar products. After opening, there is no low balance fee. There is no minimum balance required to earn interest or monthly maintenance fee for this account.

Compounding Interest

Interest is compounded and credited monthly. You can optionally have the dividends paid out monthly if you want to collect regular payments as a source of income, which many customers do. There is no extra charge for choosing this option and you can choose any payout method that works for you between bank transfer, cash, or check. Otherwise, dividends will be credited automatically to your account each month.

Another noteworthy aspect of this account is that you can use the funds as collateral for a Certificate Loan. A certificate loan with Golden 1 Credit Union is a secured loan with lower interest rates and more flexible repayment terms than unsecured loan products with the credit union. This is a good choice for borrowers who want to build their credit as these loans are easier to qualify for and accrue less interest than similar alternatives. 

And if you do choose to use your CD balance as collateral when applying, the principal will still continue to earn interest until you repay the loan or the account matures.

Many banks and credit unions offer six-month CDs as the shortest terms available, so it’s nice to see Golden 1 starting at three months for its standard CDs. There are no step-up or bump-up CDs, variable-rate CDs, no-penalty CDs, or brokered CDs available with this credit union.

Grace Period and Early Withdrawal Fees

All CDs automatically are set to renew when they mature. When your account reaches maturity, there is a seven-day grace period during which you can withdraw some or all of your funds or close your account without incurring early withdrawal penalties if you do not wish to renew your certificate. 

You will pay a fee if you remove money from this account (not including monthly interest payments) before it reaches maturity. The early withdrawal penalties for making a withdrawal before your account matures are as follows:

  • Early withdrawal from a term of between 3 and 11 months will incur a penalty equal to 90 days’ interest
  • Early withdrawal from a term of between 12 and 23 months will incur a penalty equal to 180 days’ interest
  • Early withdrawal from a term of 24 months or more will incur a penalty equal to 365 days’ interest

Note that these early withdrawal fees are pretty average for standard certificate accounts. If you don’t want your account to renew automatically, you can provide written notice prior to maturity or during the grace period.

All Golden 1 certificates of deposit are federally insured by the NCUA up to the limit of $250,000 per account, per depositor. These accounts are just as safe and secure as any other CDs.

How to Become a Member

Anyone living in California is eligible to become a member of Golden 1 Credit Union. There are no specific communities you must be a part of if you are a resident of California. 

You can apply in person at a branch location, online using this link, or by calling 1-877-465-3361. This application only takes a few minutes to fill out.

You may be eligible for membership if you are an active-duty military member who typically lives in California but you are currently located out of state. If you do not live in California but your family member or domestic partner is a member of Golden 1, you can also join this credit union. 

The final way to become a member is by being an employee of one of 1,000 Select Employee Groups across the country. These include nonprofit organizations, universities, and more. Indicate in your application that you do not live or work in California and select “I belong to a Select Employee Group” to find your place of employment.

If your application is approved, all you need to do to join is open a Golden 1 savings account with a deposit of at least $1. This is a Regular Savings account that earns an interest rate of 0.05%. With this account, which makes you a member-owner for as long as it is open and active, there are no monthly maintenance fees and in-network ATM transactions are unlimited (as long as you stay within your monthly limit of six withdrawals/transfers per federal guidelines for savings accounts).

There are several other savings and checking accounts you may choose to open as well when becoming a member, but the one mentioned above is the only one that is required for membership.

Consumer Sentiment & Reviews

So what is it like actually being a customer of this credit union? Customer sentiment for this credit union is mostly positive, with many reviewers reporting smooth experiences when opening new accounts and helpful customer service interactions. High interest rates draw many new customers to the credit union and keep them satisfied. 

But there are negatives as well. Many complaints are about the credit cards specifically but some deposit account users say that this credit union is difficult to work with when problems arise such as unauthorized transactions or changing the ownership of an account.

Overall, it seems like in-person service is better for most than online service and is a strong point for this institution. According to reviewers, the customer service you are likely to receive at a branch may be different than that you are likely to receive when you call or email.

While it is possible to open and manage a term savings certificate completely online, there are Golden 1 Credit Union branch locations as well. There are 50 full-service branch locations in 45 cities across California as well as five non-teller branches where you can perform basic transactions like deposits and withdrawals. There are 210 Golden 1 branded ATMs that members can use surcharge-free. See all branch and ATM locations here.

App reviews show a rather surprising difference between Apple and Android user experiences. The app has a rating of 3.2 out of 5 stars on Google Play and 4.7 out of 5 stars in the App Store, indicating that it might not be optimized as well for Android devices as it is for Apple. Keep this in mind but note that the app is in the process of being updated for Android devices. At least for Apple users, the most recent update brought major improvements.

The app is functional but prone to “breaking” and is not always as responsive as it could be. The user interface is simple, which may be a strength or weakness depending on what you’re used to. Fans of comprehensive financial apps from giants like Chase and Bank of America may be disappointed. 

There are a few different ways to get in touch with a customer support representative. The first is to call the member service contact center at 1-877-465-3361. This phone line, which is not dedicated to any specific account, is available Monday through Friday from 7:30 am to 6:00 pm Pacific Time and Saturday and Sunday from 9:00 am to 5:00 pm Pacific Time. 

Alternatively, you can email your question or request to mbrsvc@golden1.com and you should receive a response within one business day. You can also see the FAQ section of the site for help with general questions.

Golden 1 also offers 24/7 technical support for mobile and online banking. The number for this is 1-844-670-9542.

ABOUT THE AUTHOR

Lauren Graves: Lauren is a writer and editor specializing in personal finance and education. She works for the digital publishing company, Dotdash, as a content update editor and writes for SavingforCollege when she's not writing for APYGUY. A former educator, she is passionate about teaching and hopes to help others save and spend smarter through accessible and informative writing.
Read More

Filed Under: CD Rates

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

APY Updates

  • Bank of America CD Rates – Now up to 3.90% APY!
    February 4, 2023
  • Edward Jones CD Rates – Now Up to 4.70% APY!
    February 3, 2023
  • BMO Harris Online Savings Account – Up to 4.20% APY!
    February 3, 2023
  • Cambridge Savings Bank CD Rates – Up to 4.75% APY!
    February 2, 2023
  • Ivy Bank Review – Deposit Rates up to 4.85% APY!
    February 2, 2023
  • Capital One CD Rates – Now up to 5.00% APY!
    February 2, 2023
  • Washington Federal CD Rates – Now up to 4.00% APY!
    February 1, 2023

The Big Banks

  • Bank of America CD Rates
  • Capital One CD Rates
  • Citibank CD Rates
  • Chase Bank CD Rates
  • Wells Fargo CD Rates
  • U.S. Bank CD Rates

Noteworthy Credit Unions

  • Navy Federal Credit Union CDs and Savings
  • Patelco Credit Union CDs and Savings
  • PenFed CDs and Savings
  • Connexus Credit Union CDs and Money Market

Brokered CDs

  • Edwards Jones
  • Charles Schwab
  • Fidelity
  • Vanguard

Alternatives

  • 12 Alternatives to CDs and Savings Accounts

Real Estate Investment Platforms

  • Fundrise - up to 22% Returns
  • CrowdStreet - up to 17.1% Returns
  • Yieldstreet - Avg 10.61% Returns

Footer

Disclaimer

APY GUY strives to keep its information as accurate and up to date as possible. This information may be different than what you see at a bank, credit union or other financial institution. This applies to both in person visits and their website(s). Any financial products or services represented or discussed on this website are without warranty. When evaluating offers viewed on APYGUY.com, please read the financial institution’s Terms and Conditions.

About Us. Privacy Policy. Terms Of Use. How We Make Money.

Categories

Connect with Us:

  • Email
  • Facebook
  • LinkedIn
  • Twitter

Know of a fantastic APY offered by your local bank or credit union?

Don’t be shy, please share!

Send an email to hello@apyguy.com with the name of the institution, rate (APY) and type of product.

Our editorial staff will confirm the product, rate and APY (annual percentage yield) with the institution and publish it immediately for our viewers.

Copyright © 2023 - APYGUY: Maximize Your Savings & Earnings

Home>CD Rates>Golden 1 Credit Union CD Rates – Up to 3.75% APY!