Start My Answer

Golden 1 Credit Union Personal Loan Review

Dena Standley | November 10, 2023

Dena Standley
Legal Expert, Paralegal
Dena Standley, BA

Dena Standley is a seasoned paralegal with more than 20 years of experience in legal research and writing, having received a certification as a Legal Assistant/Paralegal from Southern Technical College.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: Golden 1 Credit Union offers low-interest personal loans to its members. If you qualify, the loan can be an excellent choice for debt consolidation. But the duration and interest rates are not clear enough for consumers shopping for the best deals.

Personal loans are famous for their considerably low-interest rates. Comparing every available option is crucial when considering a loan. One option for Californians is the Golden 1 Credit Union personal loan.

Golden 1 Credit Union members can take out loan amounts starting at $1000 with interest rates as low as 8.49%. But they must open an account at least six months before submitting the loan application to get such competitive rates. Non-members cannot apply.

But who is Golden 1, and is their personal loan worth consideration?

Who is Golden 1 Credit Union?

Golden 1 is a member-owned credit union headquartered in Sacramento, California. It is a financial cooperative offering all financial products, including banking services, personal loans, and credit lines.

Members must be Californian or be related to a current member. You may also qualify if you work for an eligible employer.

Golden 1 Credit Union personal loan reviews

The Better Business Bureau (BBB) gives Golden 1 an excellent A+ rating. However, as of 2023, the cooperative is not BBB accredited and has a consumer review of 1.11 out of 5 stars.

Here is an example of a real consumer complaint against Golden 1, as found on its BBB page:

“Golden One filed an incident on Chex System stating that I owe them money. After multiple attempts to pay them, I was finally instructed to deposit $59 into my savings account at Golden One, and they will use that to pay what I owe them. This payment was made and completed.

"Once the money was deposited, Golden One immediately debited my account for the amount owed. I have tried contacting them multiple times, but nobody there seems to know what is happening. They claim they sent a letter to Chex System and me, but I never received it. Their incident is still showing up on my Chex System report saying I owe them money even though it has been months since I paid fully.”

Among Golden 1's best-known products is its personal loan. As with all its products, you must be a member to apply for this loan. But there are other factors to consider.

Why is Golden 1's personal loan a good choice?

Golden 1 personal loan is a good choice for those looking to enjoy the following advantages:

  • Quick approval: Golden 1 Credit Union claims to approve personal loans in as little as 30 minutes. Apparently, this is possible since applicants are already members of the union. Even if applicants needed to wait an hour or more to know their fate, that would still be faster than other institutions.

  • It is unsecured: You would not be risking your property by applying for the loan. And you can borrow up to $1500 without a cosigner or a guarantor.

  • Membership benefits: Golden 1 is a not-for-profit company. So any money it earns from taking out the personal loan goes back to you, the member. Perks include free services such as the no-fee countrywide ATMs, free checking, and mobile banking.

  • Considerably low APR: While Golden 1's interest rates are already low, it gives long-standing members further discounts. For example, if you have been a member for over six months before submitting a personal loan application, you receive a 1% discount. As a result, you would owe just 8.49% APR.

Low APR means you can use a Golden 1 personal loan to consolidate high-interest credit cards or other debts.

Related: Is it Smart to Consolidate Debt?

Why you may need to reconsider taking the Golden 1 Credit Union personal loan

As exciting as quick approval and no collateral sound, remember to consider the cons of the personal loan.

  • Member-only: You must be a Golden 1 Credit Union member to access the loan. If you are not yet a member, submit your request and open an account with at least a dollar deposited. Additionally, the criteria for membership leaves out interested consumers simply for not residing in California.

  • Unclear loan terms and interest rates: Golden 1 considers your creditworthiness and the loan term to decide on your custom APR. That leaves you in the unknown and makes it hard to compare it with other loan options. And despite being a member, you can still pay some high-interest rates (with no stated caps) if you have a low credit score.

Should you apply for a Golden 1 personal loan?

The Golden 1 Credit Union personal loan is a worthwhile option to have. For long-time members, the lower interest rates are a welcome feature.

The following table summarizes the pros and cons of a Golden 1 Credit Union personal loan.

Statute of Limitations on Debt in Illinois
Advantages Disadvantages
You don't need a guarantor or cosigner for loans under $1,500. Only members of the credit union can apply.
You can be approved in less than an hour and receive your money within a day or two. Loan terms are uncertain.
The loan terms are flexible. New members pay higher APRs.
You can borrow large amounts, starting from $1,000-$50,000. You never know how high the interest rates can go, especially for consumers with below-average credit.

SoloSuit is constantly researching information about debt and credit to help you stay financially healthy. We simplify the processes to help consumers respond to debt collectors, Answer debt collection lawsuits, and settle debts without hiring expensive attorneys.

Learn how to Settle your debt for good.

Key takeaways

Golden 1 Credit Union offers low-interest personal loans to its members. If you qualify, the loan can be an excellent choice for debt consolidation. But the duration and interest rates are not clear enough for consumers shopping for the best deals.

Personal loans are famous for their considerably low-interest rates. Comparing every available option is crucial when considering a loan. One option for Californians is the Golden 1 Credit Union personal loan.

Golden 1 Credit Union members can take out loan amounts starting at $1000 with interest rates as low as 8.49%. But they must open an account at least six months before submitting the loan application to get such competitive rates. Non-members cannot apply.

But who is Golden 1, and is their personal loan worth consideration?

Settle with SoloSettle

Make an Offer

How to Answer a Summons for debt collection in all 50 states

Here's a list of guides on how to respond to a debt collection lawsuit in each state:

The Ultimate 50 State Guide

Guides on how to resolve debt with every debt collector

Are you being sued by a debt collector? We’re making guides on how to resolve debt with each one.

Resolve your debt with your creditor

Some creditors, banks, and lenders have an internal collections department. If they come after you for a debt, Solosuit can still help you respond and resolve the debt. Here’s a list of guides on how to resolve debt with different creditors.

Get debt relief in your state

We’ve created a specialized guide on how to find debt relief in all 50 states, complete with steps to take to find relief, state-specific resources, and more.

Debt collection laws in all 50 states

Debt collection laws vary by state, so we have compiled a guide to each state’s debt collection laws to make it easier for you to stand up for your rights—no matter where you live.

Statute of limitations on debt state guides

Like all debt collection laws, the statute of limitations on debt varies by state. So, we wrote a guide on each state’s statutes. Check it out below.

Statute of Limitations on Debt Collection by State (Best Guide)

Check the status of your court case

Don’t have time to go to your local courthouse to check the status of your case? We’ve created a guide on how to check the status of your case in every state, complete with online search tools and court directories.

How to stop wage garnishment in your state

Forgot to respond to your debt lawsuit? The judge may have ordered a default judgment against you, and with a default judgment, debt collectors can garnish your wages. Here are our guides on how to stop wage garnishment in all 50 states.

Other wage garnishment resources

How to settle a debt in your state

Debt settlement is one of the most effective ways to resolve a debt and save money. We’ve created a guide on how to settle your debt in all 50 states. Find out how to settle in your state with a simple click and explore other debt settlement resources below.

How to settle with every debt collector

Not sure how to negotiate a debt settlement with a debt collector? We are creating guides to help you know how to start the settlement conversation and increase your chances of coming to an agreement with every debt collector.

Other debt settlement resources

Personal loan and debt relief reviews

We give a factual review of the following debt consolidation, debt settlement, and loan organizations and companies to help you make an informed decision before you take on a debt.

How to repair and improve your credit score

Debt has a big impact on your credit. Below is a list of guides on how to repair and improve your credit, even while managing major debt.

How to resolve student loan debt

Struggling with student debt? SoloSuit’s got you covered. Below are resources on handling student loan debt.

Settle your medical debt

Having a health challenge is stressful, but dealing medical debt on top of it is overwhelming. Here are some resources on how to manage medical debt.

Guides on arbitration

If the thought of going to court stresses you out, you’re not alone. Many Americans who are sued for credit card debt utilize a Motion to Compel Arbitration to push their case out of court and into arbitration.

Below are some resources on how to use an arbitration clause to your advantage and win a debt lawsuit.

Stop calls from debt collectors

Do you keep getting calls from an unknown number, only to realize that it’s a debt collector on the other line? If you’ve been called by any of the following numbers, chances are you have collectors coming after you, and we’ll tell you how to stop them.

Federal debt collection laws can protect you

Knowing your rights makes it easier to stand up for your rights. Below, we’ve compiled all our articles on federal debt collection laws that protect you from unfair practices.

Civil law legal definitions

You can represent yourself in court. Save yourself the time and cost of finding an attorney, and use the following resources to understand legal definitions better and how they may apply to your case.

Get answers to these FAQs on debt collection

How-to debt guides

Learn more with these additional debt resources


Not sued yet?

Use our Debt Validation Letter.


Out Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.


Let's Do It

It only takes 15 minutes.

And 50% of our customers' cases have been dismissed in the past.


"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" - Heather



Get Started

Contents