Golden 1 Credit Union Bad Credit Loan Review

Created in 1933, this financial cooperative is headquartered in Sacramento, California. Golden 1 CU is the largest credit union in California, and one of the largest in the US. It has almost $15 billion in assets and has 70 branches all over the state. Membership is open to everyone who lives in or works in California.

Best for
4 /5
$ /mo
Starting Price
Visit Site
Table of Contents

    Golden 1 CU is not accredited by the Better Business Bureau.

    However, the Bureau has given this credit union an A+ rating, which is its highest rating.

    One customer reviews are mixed, because of which the business has been given a 2 on 5 rating on Yelp and a 2.9 on 5 rating on WalletHub. 

    What You Should Know about Golden 1 Credit Union:

    • Low Rate Options – both fixed and variable depending on the loan type
    • Flexible Loans
    • Fixed Monthly Payments

    Golden 1 Credit Union Financial Terms in a Glimpse

    Loan Amounts

    $1,000 - $75,000

    Term Length

    Term Limits Based on Amount Borrowed

    Loan Rates

    Starting from 16.25%

    Min. Credit Score

    Not Specified

    Better Business Bureau Rating


    Time to Funding

    1 to 2 Business Days

    Golden 1 Credit Union Denver Highlights

    Here are some of the key features of the loans offered:

    Pre-qualify with Soft Credit Pull

    Golden 1 carries out a soft credit pull when checking your application viability, but this does not impact your credit scores. 

    Loan applicants are expected to provide the following information:

    • Name and Date of Birth
    • Contact Details
    • Social Security Number
    • Total Monthly Income
    • Proof of income/Employment status

    High Debt to Income Ratio Allowed

    The lender has not provided any information on the kind of debt to income ratio it allows.

    Line of Credit

    Golden 1 offers personal lines of credit ranging from $500 to $30,000 with minimum APRs of 7.79%. Interest is only charged if that line of credit is used. 

    Credit Health Tools

    Personal loans may be used for medical expenses. 

    Hardship Programs

    There are various assistance programs for loan payments for those undergoing financial hardships.

    For payment assistance members are required to call the lender’s helpline (1-877-723-3010). 

    No Prepayment Penalty

    Golden 1 does not charge a prepayment penalty. 

    Unsecured Loans

    This lender offers person unsecured loans. There is also a loan called the Starter Loan that is specifically for those with no credit history or bad credit.

    The maximum loan limit is $1,500, but if a guarantor co-signs the loan application, then that amount can be increased to $2,500. 

    Golden 1 Bank Fees

    There is a $15 late payment fee. 

    How to Qualify

    To qualify for a personal loan, the following criteria must be met:

    • Be a member of Golden 1 Credit Union
    • Stable credit history (except for the Starter Loan)
    • 18 years old
    • Proof of income

    The Bottom Line

    Golden 1 Credit Union has a BBB A+ rating, but consumer ratings are more mixed and on the lower side.

    This lender offers a larger loan amount than most others, but the information on its website is scant with regard to rates, terms and loan amounts. 

    If you have bad credit and are looking for larger loan options, then one alternative is OneMain Financial.

    Another good option for those with bad credit is Upstart. Both of these lenders are transparent on their products and are open to bad credit borrowers.