The Golden 1 Credit Union wants to be the 1. One of the largest credit unions in California, as well as the entire US, the member-owned organization serves communities in central and northern parts of the state through a network of more than 80 branches; nearly half of them are in and around Sacramento. The Golden 1 has nearly 600,000 members who are residents of more than 30 eligible counties, are California state employees, or employees of hundreds of select companies or groups. The credit union offers standard products such as checking and savings accounts and credit and check cards. It also provides residential real estate and personal loans, as well as investments and insurance.
The credit union was negatively affected by the economic recession that hit its home state of California particularly hard. It suffered losses in 2008 and 2009 as loan losses ballooned, but returned to profitability in 2010 as the economy exhibited signs of recovery.
Founded in 1933 by a group of California state employees, The Golden 1 offered no-interest payroll loans to state employees whose paychecks were deferred during the state budget impasse in 2010. – less