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Star One Credit Union Review 2021
Member FDIC
Savings account
Member FDIC
Savings account
Member FDIC
Checking account
Overall
4.1
Bankrate Score
Star One Credit Union has been around for more than 60 years and serves as the largest credit union in Silicon Valley.
What we like
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The Money Market Savings account and certificates pay a strong APY.
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Minimum deposit requirements are relatively low overall.
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There are no monthly service fees.
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Members have access to digital features like voice banking through Amazon Alexa.
What we don't
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There’s a limited product selection available for savers.
CD rates
4.4
Bankrate Score
Star One Credit Union offers three certificate terms: six months, 12 months and 24 months. Each certificate requires a manageable $2,500 minimum deposit and pay strong yields. Earned interest can be mailed or transferred to a Star One checking or savings account. These options are ideal for savers looking for a temporary place to keep their cash, but savers with long-term goals will want to search for alternatives.
Star One doesn't offer any specialty certificates, such as a no-penalty or bump-up account.
You’ll face a penalty, but withdrawals of at least $1,000 could be made without closing the entire account (as long as you meet minimum balance requirements). Early withdrawal penalties aren’t abnormal; however, they are higher than those at some online banks and credit unions.
What we like
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Partial withdrawals are allowed from the share certificate.
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Earned interest can be mailed or transferred to a Star One checking or savings account.
What we don't
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There are only three CD terms available.
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Star One doesn't offer any specialty certificates
Savings accounts
0.0
Bankrate Score
Member FDIC
Savings account
What we like
What we don't
Checking accounts
4.6
Bankrate Score
Member FDIC
Checking account
Star One offers a few checking account options: a Rewards Checking account, a student checking account and a free checking account option. Rewards checking account holders earn a relatively high yield and receive ATM fee refunds of up to $20 per month. Student checking account holders can get up to $10 of ATM fees refunded per month. Free checking accounts are also automatically upgraded to Rewards Checking on the first day of the month based on transactions and qualifications of the prior month.
For all checking account holders, the first box of 40 checks is free and free bill pay is available. Rewards checking account holders always have access to free checks.
What we like
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Minimum opening deposits are low.
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There are no monthly service fees.
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Members can earn interest on all three checking accounts.
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$10-$20 in ATM rebates available to members of two out of three accounts.
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Members have access to Zelle, the peer-to-peer payment service.
What we don't
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Free checking members will have to pay a $15 out-of-network ATM fee.
Money market accounts
4.3
Bankrate Score
To join Star One Credit Union, applicants need to open a Money Market Savings Account. The minimum deposit is just $50. With an active membership, account holders can open multiple savings accounts (sub-savings accounts) and assign each one a nickname. The Money Market Savings Account pays a very competitive APY.
What we like
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Members can open an account with a low minimum deposit of $50.
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No monthly service fees listed.
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Members can create multiple savings accounts for different goals at no additional cost.
What we don't
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Members do not have check writing privileges.
Bank experience
Star One Credit Union offers membership to residents of certain counties in California and to employees of certain companies. See more details on how to become a member.
Star One Credit Union has six branches, all of which are located in California. Most locations have the same hours and a few are open on Saturdays. There are also more than 6,500 shared branches available plus nearly 30,000 surcharge-free ATMs available through the CO-OP network. Some, but not all, accept deposits.
Members who want to meet with a bank representative can schedule an appointment in advance online. Representatives are available over the phone from 7 a.m. to 7 p.m. Pacific on weekdays and between 9 a.m. and 5 p.m. on weekends and most holidays.
For those who use digital wallets, it’s possible to use your Star One Visa debit and credit cards with Apple Pay, Google Pay and Samsung Pay. Other digital features include voice banking (a functionality available through the Amazon Alexa called “Skill”) and more standard features like, mobile check deposit and the ability to create balance alerts.
About Star One Credit Union
Star One Credit Union is one of Silicon Valley’s largest credit unions, providing service to more than 113,000 members worldwide.
The California-based credit union was originally founded as the Lockheed Missile Employees Federal Credit Union in 1956. It offered financial services and support to employees in Sunnyvale, California who worked in the Lockheed Missiles and Space Division. Twenty-five years later, the credit union was renamed the LMSC Federal Credit Union. It wasn’t until 1995 that Star One Federal Credit Union became the new namesake.
Liz Hund is a banking reporter at Bankrate. Previously, she was a writer at The Points Guy, where she covered everything from the latest travel news to credit card reviews. Liz is passionate about helping others reach their financial goals and aims to accomplish that through her writing. Her goal is to get others as excited about maximizing their money as she is, which is why she particularly enjoys the challenge of breaking down otherwise intimidating or hard-to-understand topics — especially for beginners. Liz is based in New York City and grew up between Michigan and Virginia. She earned a bachelor’s degree in journalism from the University of Missouri.
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