At a glance

4.0

Bankrate Score

CDs

Checking

MMA

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

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

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

Minimum deposit requirements overall are low.
There are no monthly service fees.
All checking accounts earn interest.
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.

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Star One Credit Union banking products

3.5

/5

See methodology Compare CD rates

SCORE BREAKDOWN

APY offering:

3.75%

4/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less.

Minimum deposit:

$2,500.00

3/5

The minimum deposit amount a financial institution requires in order to open a CD.

Range of term lengths:

6 mos – 2 yrs

2/5

A designated amount of time that funds must be held within a CD.

Early withdrawal penalty:

Average

3/5

A penalty incurred when funds have been withdrawn from a CD before its maturity date.

Offer no-penalty or bump-up CDs:

No

0/5

A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date.

Offer IRA CDs:

Yes

5/5

An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.

FEATURES

3.75% APY

APY last updated between 12/14 and 12/20.

$2,500 minimum balance for APY

$2,500 minimum deposit to open

6 months – 2 years

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

Certificate accounts can be opened online.
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.

Rate history for Star One Credit Union's CD accounts

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 last updated between 12/14 and 12/20.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

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 last updated between 12/14 and 12/20.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

4.4

/5

See methodology Compare MMA rates

SCORE BREAKDOWN

APY offering:

3.25%

4/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Minimum balance for APY:

$50.00

5/5

The lowest balance an account must maintain in order to earn interest.

Monthly service fee:

$0.00

5/5

A monthly charge a financial institution deducts from an account if certain requirements are not met.

Minimum balance to avoid fee:

$0.00

5/5

The lowest amount an account must maintain in order to avoid a fee.

Check writing:

No

3/5

The ability to write a certain amount of checks within a statement cycle.

Debit/ATM access:

Good

4/5

The ability to withdraw funds from an account through the use of debit or ATM card.

Star One Credit Union money market overview

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 “sub-savings” accounts and assign each one a nickname. Sub-savings accounts require $5 to open.

The Money Market Savings account pays a decent APY, though it’s not as competitive as other accounts on the market. There’s no monthly service fee, and the account comes with an ATM card, which can be used to withdraw up to $1,000 per day.

Pros

A money market savings account can be opened with a low minimum deposit of $50.
Account holders can create multiple savings accounts for different goals at no additional cost.
There’s no monthly fee.

Cons

Account holders do not have check-writing privileges.
Higher APYs are available elsewhere.

4.9

Bankrate Score

Compare top checking rates

Star One Credit Union checking overview

Star One offers three checking accounts, including Free Checking, the account scored for this review. It has no monthly fee, pays interest on the balance and includes a Visa debit card. You must deposit at least $25 to open the account.

The Free Checking account can be upgraded to a Rewards Checking account by making at least 10 debit transactions per month, enrolling in e-statements for all accounts with the credit union and making either a minimum of $300 in ACH transactions per month or maintaining at least $5,000 across deposit accounts. Some perks of the Rewards Checking upgrade include a highly competitive APY and up to $20 in ATM fee refunds per month.

Star One also offers a free student checking account to customers under age 25. It has no monthly fee, earns interest and refunds up to $10 each month in ATM fees.

All checking accounts include a free first box of 40 checks and free bill pay is available. Though the Free Checking account doesn’t offer ATM fee refunds, members have access to about 30,000 fee-free ATMs. There’s a $15 overdraft fee, which is lower than what many other institutions charge, and it only applies if the overdrawn amount is over $30.

Pros

Minimum opening deposits are low.
There are no monthly service fees on any checking account.
All three checking accounts earn interest, regardless of balance.
ATM rebates of $10 and $20 are available to members with the student checking and Rewards Checking accounts, respectively.

Cons

The free checking account doesn’t refund out-of-network ATM surcharges.

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.

Star One Credit Union Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

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

Star One Credit Union banking products

Star One Credit Union CD overview

Pros

Cons

Rate history for Star One Credit Union's CD accounts

Star One Credit Union money market overview

Pros

Cons

Star One Credit Union checking overview

Pros

Cons

Bank fees

About Star One Credit Union

Customer experience

Review methodology

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