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Star One Credit Union Review 2024

Updated January 23, 2024
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At a glance

4.0
Rating: 4 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.5 stars out of 5

Checking

Rating: 4.9 stars out of 5

MMA

Rating: 4.4 stars out of 5

About Bankrate Score

Overview

Star One Credit Union could be a good fit for consumers in eligible California counties looking for a feature-filled interest-bearing checking account and to avoid high fees.

Highlights

  • Free Checking
  • No Monthly Fees
  • Reward Checking
Sponsored offers
Info

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 6/22/2024
Rating: 4.4 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
5.30
%
APY
APY
Info
As of 6/22/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: No account fees, unlimited withdrawals, better for the planet
Bank logo
Member FDIC
Savings Account
5.00
%
APY
APY
Info
As of 6/22/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: Plus, no monthly fees and unlimited free external transfers

Overall

Star One Credit Union has been around for more than 60 years and is the largest credit union in Silicon Valley.

Though Star One branches are limited to the Silicon Valley area, it is part of a network of nearly 6,000 shared branches, which allow members to do their banking at partnered credit union locations. Plus, members get access to around 30,000 fee-free ATMs through the CO-OP network.

Star One’s checking accounts are standouts. They earn interest, there are no monthly fees and two of the checking accounts offer ATM surcharge refunds. On the other hand, Star One’s share certificate selection is limited, and it doesn’t offer the most competitive money market account rate.

Pros

  • Checkmark

    Minimum deposit requirements overall are low.

  • Checkmark

    There are no monthly service fees.

  • Checkmark

    All checking accounts earn interest.

  • Checkmark

    Members have access to digital features like voice banking through Amazon or Google voice devices.

Cons

  • There’s a limited product selection available for savers.

  • Higher rates on certificates and money market accounts are available elsewhere.

  • Membership is limited to those in select counties in California or those who work with corporate partners of the credit union.

We want to know what you think about Star One Credit Union

Do you have experience with Star One Credit Union? Let us know your thoughts.

Star One Credit Union banking products

3.5
/5
Rating: 3.5 stars out of 5
See methodology Compare CD rates
SCORE BREAKDOWN
APY offering:
3.65% - 1 yr
Rating: 4 stars out of 5
4/5
Info
Minimum deposit:
$2,500.00
Rating: 3 stars out of 5
3/5
Info
Range of term lengths:
6 mos – 2 yrs
Rating: 2 stars out of 5
2/5
Info
Early withdrawal penalty:
Average
Rating: 3 stars out of 5
3/5
Info
Offer no-penalty or bump-up CDs:
No
Rating: 0 stars out of 5
0/5
Info
Offer IRA CDs:
Yes
Rating: 5 stars out of 5
5/5
Info

Star One Credit Union CD overview

Star One Credit Union offers three certificate terms: six months, one year and two years. Each certificate requires a $2,500 minimum deposit and pays a fairly competitive yield, though higher rates can be found at online banks. Earned interest can be transferred to a Star One checking or savings account, or a check can be mailed to the account holder.

The limited term options are ideal for savers looking for a temporary place to keep their cash, but savers with longer-term goals may want to seek out alternatives.

Star One doesn't offer any specialty certificates, such as a no-penalty or bump-up account.

Early withdrawals are subject to a penalty, which is higher than some other online banks and credit unions. On a six-month share certificate, the penalty is 90 days worth of dividends, and one- and two-year certificates are subject to a penalty of 180 days’ dividends.

Pros

  • Checkmark

    Certificate accounts can be opened online.

  • Checkmark

    Earned interest can be mailed or transferred to a Star One checking or savings account.

Cons

  • Only three certificate terms are available.

  • Star One doesn't offer any specialty certificates.

  • Higher rates can be found elsewhere.

  • See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

    Star One Credit Union
    APY
    APY
    Info
    National average APY
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    How do we get this data?
    Info
Compare Offer
Sponsored Offer
Info

This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.

Bank logo
Member FDIC
CD
5.10
%
APY
APY
Info
As of 6/22/2024
Rating: 4.9 stars out of 5
Info
$500
Min. deposit
6 mo
Term
Promoted offer:

Bank fees

Fee Charged?
Overdraft fee $15
Non-sufficient funds fee $15
Account maintenance fees None
ATM fee Free for first 20 withdrawals each month; then $1 per withdrawal

About Star One Credit Union

Star One Credit Union is one of Silicon Valley’s largest credit unions, providing service to more than 126,000 members nationwide.

The Sunnyvale, California-based credit union was founded in 1956 as the Lockheed Missile Employees Federal Credit Union, offering financial services and support to employees of the Lockheed Missiles and Space Division. Twenty-five years later, the credit union was renamed the LMSC Federal Credit Union and again in 1995 as Star One Federal Credit Union.

Star One Credit Union offers membership to residents of nine California counties, as well as employees of Lockheed Martin Corp. and dozens of other area employers.

Customer experience

Branch and ATM access. Star One Credit Union has six branches, all of which are located in California’s Silicon Valley region. Most locations have the same hours and a few are open on Saturdays. More than 5,600 shared branches are available plus nearly 30,000 surcharge-free ATMs available through the CO-OP network. Some ATMs accept deposits.

Customer service. 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 time, weekdays, and 9 a.m. to 5 p.m., weekends and most holidays. Customers can also fill out a web form for general questions. 

Digital features. Fans of digital wallets can use Star One Visa debit and credit cards with Apple Pay, Google Pay and Samsung Pay. Other digital features include voice banking (a skill available through Amazon’s Alexa digital assistant or a Google voice device), Zelle, mobile check deposit and the ability to create balance alerts. The credit union’s app is highly rated. 

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.