For A Limited Time Only: Golden 1 Credit Union Top Rate 20-month CD

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For a limited time, The Golden 1 Credit Union (California) is offering a 20-month CD (1.50% APY). The minimum opening deposit is $1K and there is no maximum balance cap, but the funding does require new money.

Current members can open a certificate with funds not currently on deposit with The Golden 1 Credit Union (Golden 1) by visiting any branch location, or by transferring existing funds through the Golden 1 Online banking service.

The 20-month CD is also available as an IRA (Traditional) at the same rate, with the same funding requirements.

According to Golden 1's Disclosure of Account Information, the Early Withdrawal Penalty reads:

If your account has an original maturity of 12 months through 23 months, the penalty we may impose will equal 180 days’ dividends on the amount withdrawn subject to penalty.

Thank you to "Anonymous" for posting about this deal!

Availability

Golden 1’s field of membership is wide and varied, with qualifying requirements that allow almost anyone to join the credit union.

Employment Eligibility - If you work for any of 850+ Select Employee Group listed on the first page of the online application, you qualify membership.

Residency Eligibility - If you live in any of the following 34 California counties, you qualify for membership:

Alameda, Amador, Butte, Calaveras, Contra Costa, El Dorado, Fresno, Imperial, Kern, Kings, Lassen, Madera, Marin, Merced, Monterey, Napa, Nevada, Placer, Sacramento, San Benito, San Bernardino, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Shasta, Solano, Sonoma, Stanislaus, Sutter, Yolo, and Yuba.

If you don’t qualify for membership through either residency or employment, you can join the Financial Fitness Group ($5 annual membership dues) to qualify for Golden 1 membership. Golden 1’s online application allows you to join both organizations simultaneously.

Opening any of Golden 1’s products can be opened and funded online, or at any of 82 branches located throughout California.

Credit Union Overview

The Golden 1 Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 2.54% (excellent) based on June 30, 2014 data. In the past year, Golden 1 (FICU Charter # 65610) has increased its total deposit by $247.23 Million, an excellent annual growth rate of 3.48%. Please refer to our financial overview of The Golden 1 Credit Union for more details.

Founded by a group of California state employees in 1933, The Golden 1 Credit Union is California's leading financial cooperative, and the sixth largest credit union in the U.S., with more than $8.5 Billion in assets and over 675,000 members.

How the CD Compares

When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a $1K or less minimum deposit and available to California residents, The Golden 1 Credit Union's 20-month CD is clearly the leader:

Interest Rate CD Length Institution
1.50% APY 20-month CD The Golden 1 Credit Union
1.26% APY 18-23 Monthly Term Share Certificate F&A Federal Credit Union
1.25% APY 19-month CD Xceed Financial Credit Union

These rates are accurate as of 11/18/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

Comments
Anonymous
Anonymous   |     |   Comment #1
Current customers can open the 20-month certificate by transferring existing funds via the online banking site. "Opening a Certificate is easy and starts at a low, minimum deposit of $1,000. Current members can open a certificate with funds not currently on deposit with Golden 1 by visiting any Golden 1 branch. Or, you can open a certificate by transferring existing funds through Golden 1 OnlineSM, our convenient, secure online banking service."
Ken Tumin
Ken Tumin   |     |   Comment #3
Thanks for noting these details of the offer. I've updated the post with this info.
Sree
Sree   |     |   Comment #2
Is it safe to stick huge amount in this deal for the next 20 months? Length of CD and the penalty of 6 months interest is scaring me away.. opinion please
Anonymous
Anonymous   |     |   Comment #4
What's your concern?  Rates may go to 2.5% for the same term in 20 months?  3.5 in ...?  What is a "huge amount"...more than 25% of your net worth?  I wouldn't do that with any deal

Rates are not going to move "radically."  If they do, then you know what the EWP is and yet earn a "reasonable" rate (for now) for 20 months. 

I recently got 2.0% for 22 months and it's good to go for those months...in my view.

Ladder, ladder, etc. where one can
Sree
Sree   |     |   Comment #5
I am planning 40% of my networth(which is earning peanuts currently in checking account). 18 months stocking is too lengthy, I thought.
BTW, where did you get 2.0 for 22 months? good deal though.
Anonymous
Anonymous   |     |   Comment #7
Got the FamFirst "alert" from Ken and, yes, it is no longer available.
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