If you're looking for a new certificate of deposit, why not consider Golden 1 Credit Union's CD rates? This credit union's high-yield term savings certificates (a fancy way of saying CD) are great for those who want to lock up at least $500 for a term of 16 months -- but other terms are less favorable. Keep reading to learn more about Golden 1 Credit Union's CD rates and terms.
Golden 1 Credit Union CD rates for 2024
Rates as of June 7, 2024
APY = Annual Percentage Yield
Golden 1 Credit Union CD
Bottom Line
Officially called Term Savings Certificates, Golden 1 offers a variety of CD term ranges. With each term, your eligible APY is based on the amount of your deposit. In general, the longer the term and the more money you put up for deposit, the higher APY you will be eligible for. Golden 1 also offers a special 16-month CD. With a minimum $500 deposit, this savings certificate offers the highest APY currently available with Golden 1 Credit Union CDs. Check out Golden 1's website for all the details on its other CD offerings.
MINIMUM DEPOSIT $500
| 16 Mo. APY |
|---|
| 5.10% |
Compare Golden 1 Credit Union CD rates
The APYs available on term savings certificates from Golden 1 Credit Union aren't really anything to write home about, especially when compared to other options from other banks and credit unions. The exception is if you're interested in a 16-month CD, as the rate on that one is comparable to the best CD rates we've found.
Rates as of June 7, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Discover® Bank CD Member FDIC. | APY:4.70% | Term:1 Year | Min. Deposit:$2,500 | Open Account for Discover® Bank CD |
Western Alliance Bank CD | APY:5.25% | Term:1 Year | Min. Deposit:$1 | Open Account for |
Western Alliance Bank CD | APY:5.10% | Term:9 Months | Min. Deposit:$1 | Open Account for |
Details about Golden 1 Credit Union CDs
Golden 1 Credit Union's version of CDs are called Term Savings Certificates. They come in a variety of terms and APYs, with one special term (16 months) that pays higher than the others.
Golden 1 Term Savings Certificates (CDs)
Pros
- Terms from three to 60 months are available
- Dividends are compounded and paid monthly
- No minimum balance fees
- Money in a savings certificate can be collateral for a loan
- Easy renewal when the term is up
Cons
- APYs vary based on deposit amount (a higher deposit earns more)
- Only the 16-month term is competitive with best rates out there
You have a wide variety of terms to choose from if you're hoping to open a savings certificate with Golden 1 Credit Union. Terms are available ranging from three to 60 months, and you only need a $500 deposit to open one. This makes them a great choice if you intend to make a CD ladder. The more money you can deposit into a savings certificate with Golden 1 Credit Union (and the longer your term), the higher your APY will be.
When you open a Golden 1 savings certificate, your dividends will be paid out every month, so this is great if you're hoping to generate regular income. Or you can let your interest compound every month. You can also use your account as collateral for a Certificate Loan. When your term is up, you'll have a seven-day grace period to withdraw your cash or close the account -- otherwise, it will renew automatically.
Other Golden 1 Credit Union CD accounts
Golden 1 Credit Union also offers the following CD accounts:
- IRA Certificates
Who is a Golden 1 Credit Union CD right for?
If you're already a member of Golden 1 Credit Union, it'll be easy to open a savings certificate there. And if you're interested in a very specific term of 16 months, you can earn an APY comparable to some of the best available from other banks and credit unions. Otherwise, you can find better options out there to earn more interest on your cash -- including high-yield savings accounts, which come with more flexibility and usually no minimum deposit.
Bottom line: Golden 1 Credit Union CD rates
Golden 1 Credit Union CD
- 16 APY: 5.10%
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Rates as of June 7, 2024
APY = Annual Percentage Yield
Term
Golden 1 Credit Union CD
16 Mo.
5.10%
Keep reading about Golden 1 Credit Union:
- Golden 1 Credit Union Review
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
FAQs
Golden 1 Credit Union is a member of the credit union equivalent to the FDIC, the NCUA. So up to $250,000 of your money in a savings certificate is protected against credit union failure.
Yes, CD earnings are taxed at the same rate as regular income.
Rates vary so much between the two, it's impossible to answer this question. Both banks and credit unions have federal insurance, so your money will be safe at either. Credit unions tend to invest more in their local communities, so if this is important to you, look for a credit union offering a high APY on the term you're hoping to find. Banks (particularly online or big national banks) tend to offer better online support (both website and mobile app), so if you lean on technology, you might want to go with a bank CD instead.
