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APY = Annual Percentage Yield. APYs are subject to change at any time without notice.
Golden 1 Credit Union is a not-for-profit cooperative that offers its members a full suite of deposit accounts, including savings, checking, money market, and CDs. Many of its bank accounts have no monthly maintenance fees (or the fee is easily waivable), low minimum opening deposits, and access to over 30,000 in-network ATMs.
For all its low fees, however, Golden 1 Credit Union doesn't have competitive APYs, thus making it a poor choice for those who want to earn high interest on their savings. With that in mind, let's take a closer look at what Golden 1 Credit Union has to offer and see if it's the right place for your money.
Federally insured by NCUA.
Golden 1 Credit Union
Bottom Line
If you live or work in California, Golden 1 Credit Union could offer you an array of bank accounts to choose from. Its low APYs, however, make it a poor choice for those with larger earnings in mind.
Pros
Variety of bank accounts
Strong network of ATMs
Waivable or no monthly fee account options
Low minimum deposits
Cons
Low APYs
Requires credit union membership
Golden 1 Credit Union savings accounts
Golden 1 Credit Union has numerous savings accounts. Some are pretty creative -- like the "Santa Saver" -- but none have APYs that can stand up against the best high-yield savings accounts on the market today. With that in mind, let's take a look at each account individually.
Regular Savings Account
This is your basic, run-of-the-mill savings account. It has a low minimum opening deposit ($1), no monthly fees, and unlimited ATM transactions (out-of-network withdrawals cost $2 per transaction). However, like all accounts on this list, the APY is so low, you would hardly notice your money growing.
It should be noted that, for prospective members of Golden 1 Credit Union, this account really isn't a choice. To become a member of the credit union, you must open a Regular Savings Account during the application process. It will only cost you a dollar to open the account -- not a huge ask by any means -- but it's still something to consider.
Up to 0.20%
Rate info
Balance of $0.01-$9,999.99 earns 0.05%, balance of $10,000-$99,999.99 earns 0.10%, balance of $100,000+ earns 0.20%
Min. To Earn APY
$0.01
No service fee
Low minimum opening deposit
Low APY tiers
This regular savings account is safe and NCUA-insured, but it won't grow your savings faster than the rate of inflation.
Money Market Savings Account
This money market account has the highest APY of all its savings accounts. But don't get your hopes up: The rate is not only lower than the best money market accounts, you also need at least $10,000 to earn 1.00%. The account has no monthly service fee, but does require a $100 minimum opening deposit.
Up to 1.50%
Rate info
Balance of $0.01-$9,999.99 earns 0.05%, balance of $10,000-$49,999.99 earns 1.00%, balance of $50,000-$99,999.99 earns 1.00%, balance of $100,000-$249,999.99 earns 1.25%, balance of $250,000-$499,999.99 earns 1.25%, balance of $500,000+ earns 1.50%
Min. To Earn APY
$0.01
No monthly service fee
Low minimum opening deposit
Penalty-free withdrawals
Low APY
For savers who want to earn more on a Golden 1 Credit Union savings account, the Money Market Savings is your best bet. That said, even if you qualify for its highest interest tier, your APY will still be lower than the best money market accounts on the market today.
FlexSavings Savings Account
If you have a savings goal, like buying a car or saving for a wedding, this account might help you get there. The account will lock your savings for a specific period, after which funds will be deposited into your Regular Savings Account. There's no penalty for withdrawing savings before your payout date, though the account will close automatically if you do so.
You need at least $20 to open (or $5 with payroll deduction or automatic transfers from another Golden 1 Credit Union account), and there's no monthly minimum required to earn interest. It's a fun idea, but, like other accounts on this list, its APY is puny compared with other banks and credit unions.
If you're not good at saving money, the FlexSavings could add some necessary boundaries to help you get going. The APY is low, but it's free and has a low opening minimum deposit between $5 and $20.
Santa Saver Savings Account
Much like the FlexSavings, this account helps you save for holiday shopping by restricting access to your savings. Your funds will grow at a meager APY throughout the year, then automatically transfer to your regular savings account on Nov. 1. If you withdraw before that date, the account will close automatically. It's a neat idea, but once again -- there are better options out there if you want to earn more interest.
If you struggle to save for the holidays each year, the Santa Saver Savings Account could help you stay on track.
Youth Savings Account
A savings account for kids and teenagers 18 and younger, this Youth Savings Account is free and has a low minimum opening deposit of $1. The APY is decent (in fact, it's higher than Golden 1's own Regular Savings Account) but it doesn't compare with the best kids' savings account on the market.
up to 4.00%
Rate info
4.00% for balances less than $1,000. 3.50%-4.00% for balances between $1,000 and $1,999. 2.15%-3.50% for balances between $2,000 and and $4,999. 0.10%-2.50% for balances $5,000 and greater.
Min. To Earn APY
$0.01
No monthly fee
Low $1 opening deposit
No minimum balance required
Low APY
The Youth Savings Account helps parents teach their children about the value of saving money. There's no monthly service fee and deposits will earn a small interest payment paid out monthly.
Compare savings rates
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
3.80%
Rate info
3.80% annual percentage yield as of January 31, 2025. Terms apply.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
up to 3.80%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
3.80%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Golden 1 Credit Union offers regular certificates of deposit (CDs), which it calls "term savings certificates." These certificates have a variety of terms, ranging from three to 60 months, and a low $500 minimum opening deposit. Like most regular CDs, these savings certificates have early withdrawal penalties and will automatically renew at maturity if you don't withdraw the money.
As far as APYs go, Golden 1 Credit Union CDs earn more than its own savings accounts, but pale in comparison to today's top-paying CDs. That said, it does have a competitive APY on a 16-month savings certificate. This is one of the highest APY we've seen for a term of this length and could be worthwhile, especially if you're sure a CD is the right investment for you.
Compare CD rates
For perspective, here's how Golden 1 Credit Union's savings certificates compare with today's best CDs.
Golden 1 Credit Union has quite a few checking accounts, some of which pay interest. Below we'll take a closer look at your options.
Easy Checking
The Easy Checking account is a free checking account with no minimum opening deposit or daily balance requirements. The account comes with a debit card, which you can use for free banking at over 30,000 ATMs. It also gives you access to mobile and online banking services, including mobile check deposits.
The Easy Checking is just that: An easy-to-use, no-frill checking account for simple banking. It's free, has no daily balance requirements, and even comes with a debit card.
MarketRate Checking
This checking account earns interest when you keep a minimum daily balance of $1,000. While it's always nice to earn a little extra from your checking account, don't bank on this one making you rich. To get a decent APY, you need to maintain a six-figure daily balance. Even then, your APY would still be lower than other more lucrative investments, such as a certificate of deposit or money market.
The MarketRate Checking has a $25 minimum opening deposit and $15 monthly service fee. This fee is waivable if you keep a minimum daily balance of $10,000 or more (if you're age 62 or older, you can waive the fee by joining Golden Prestige). The account also comes with a debit card and free box of checks.
Up to 4.00%
Rate info
Balance of $1,000-$9,999.99 earns 0.05%, balance of $10,000-$49,999.99 earns 0.50%, balance of $50,000-$99,999.99 earns 1.00%, balance of $100,000-$249,999.99 earns 2.00%, balance of $250,000 and up earns 4.00%
Min. To Earn APY
$1,000
Competitive APY for high balances
Waivable monthly service fee
Low $25 minimum opening deposit
Free box of checks
Debit Card
Low APY for low balances
Requires $1,000 to earn interest
Monthly service fee
The MarketRate Checking has a high APY, but you need to keep a six-figure daily balance in order to get it.
Premium Checking
The Premium Checking is another interest-bearing checking account. Like the MarketRate Checking, this account's APY is based on your minimum daily balance, with higher balances getting a better APY. However, unlike that account, the interest rates on Premium Checking are super low, much lower than the best checking accounts.
Though you only need $25 to open an account, maintaining a daily minimum balance of $1,000 will earn you interest. The account has an $8 monthly service fee, which you can waive in one of three ways:
Set up direct deposit
Maintain a minimum daily balance of $500
Maintain an aggregate savings balance of at least $5,000 among your Golden 1 savings accounts and Premium Checking
Up to 0.15%
Rate info
Balance of $1,000-$9,999.99 earns 0.05%, balance of $10,000-$49,999.99 earns 0.05%, balance of $50,000-$99,999.99 earns 0.10%, balance of $100,000+ earns 0.15%
Min. To Earn APY
$1,000
Interest bearing
Waivable monthly fee
Low $25 minimum opening deposit
Debit card
Free box of checks
Low APY
$8 monthly fee
The headliner perk on the Premium Checking is its ability to earn interest on minimum daily balances of $1,000 or more. That said, this account doesn't have the best APY and may charge a $8 monthly fee if you let your balance get too low.
Student Checking
The Student Checking is a basic checking account for students between the ages of 13 and 24. The account doesn't have monthly fees or minimum deposits, but, unlike top student checking accounts, it also doesn't earn interest. It comes with a contactless debit card and also gives you the option to get paid two days early with Golden 1 Direct Deposit.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
0%
Min. to earn: N/A
Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
up to 1.10%
Min. to earn: $1
High APY when you complete 10 or more qualifying debit card purchases each month
Golden 1 Credit Union customer service and experience
Golden 1 Credit Union has an A+ rating on the Better Business Bureau website. At the same time, it also has 111 complaints in the last three years and a 1.11 out of 5 star rating. Its Trustpilot rating isn't much better: 1.9 out of 5, based on 19 reviews. While this doesn't mean that every Golden 1 Credit Union branch in California has poor customer service, the low ratings are certainly something to consider.
Golden 1 Credit Union relationship benefits
Golden 1 Credit Union offers a special Golden Prestige package for members age 62 or older. This package automatically gives you no monthly maintenance fees and doesn't have a per-check charge. You also get two free boxes of checks, up to 10 free cashier checks, and free domestic wire transfer service.
Alternatives to Golden 1 Credit Union
Golden 1 Credit Union isn't for everyone. If you're looking to earn a higher APY on your savings -- or you don't qualify for Golden 1 membership -- here are a few alternatives to consider.
Alliant Credit Union
Alliant is an online credit union with decent yields on CDs and savings accounts. Like Golden 1, it offers a variety of fee-free savings and checking accounts, along with a vast network of 80,000 ATMs. It doesn't have physical branches, but it also doesn't require you to live in a certain state for membership.
SoFi® Bank, N.A.
SoFi® is an online bank that boasts competitive APYs for savings and checking accounts. The bank is home to a savings-checking account hybrid -- the SoFi Checking and Savings (member FDIC) -- which has one of the highest APYs for a checking account. Even though SoFi® is a bank, it has relationship benefits, such as free financial planning assistance and rate discounts on loans.
Is Golden 1 Credit Union right for you?
If you want to support a credit union and you're eligible for Golden 1 membership, Golden 1 Credit Union might be right for you. Although the APYs on its savings accounts don't compare with other top banks, its community focus might be more important to you than earning high interest.
Other products by Golden 1 Credit Union
In addition to its savings products, Golden 1 Credit Union also offers the following services:
Golden 1 credit cards
Member Cash Rewards+
Member Rate Advantage Card
Member First Card
Golden 1 mortgages
Adjustable Rate Mortgage (ARM)
Fixed Rate Loan
Jumbo Loan
Golden 1 loans
Personal Loan
Personal Line of Credit
Credit Starter Loan
Certificate and Savings Secured Loan
New and used auto loans
New and used RV loan
New and used motorcycle, Jet Ski, or all-terrain vehicle loan
New and used boat loan
Our bank and credit union methodology
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
To become a member of Golden 1 Credit Union, you must live or work in California, or have a family member who is a current Golden 1 member. If that sounds like you, your next step would be to open a savings account with $1.
Yes, your money is safe at Golden 1 Credit Union. Golden 1 is insured by the National Credit Union Administration (NCUA), which provides up to $250,000 in coverage to its members.
Yes, Golden 1 Credit Union offers its members webcasts, podcasts, online videos, and tutorials to help them with money management and planning. To learn more, you can visit its Financial Wellness Center on Golden 1 Credit Union's website.
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