While Chase and US Bank are offering rates above 3 percent for auto loans, the Golden One Credit Union, based out of Sacramento, CA, provides its members lending at 2.79 percent. This is anywhere from 0.25 to 0.5 lower than national bank competitors in the same region. The rate offered tends to be provided to those with good credit, so less-than-stellar credit histories will likely result in higher interest rates offered to the given borrower applicant.

The Golden One Credit Union was originally established to service California state government employees in the Sacramento region. As one of the state’s larger credit unions, the institution has both broadened its reach as well as its eligibility. Now, with 80 statewide branches, it incorporates members from state and local government, from various non-profit organizations and even participating private business. Further, members can live in any county the Golden One operates it and apply for membership as well just based on geographical location. The Credit Union’s deposits are protected under the federal credit union insurance body, or NCUA, so depositors don’t have to worry about their funds being lost.

In terms of auto loans, the Golden One Credit Union offers two sets of rates: one for new vehicles and one for used car purchases. Terms can be for as long as 84 months if desired and approved. The Credit Union also provides loans for RVs and boats as well as motorcycles, but this kind of financing tends to cost far more than traditional auto loan.

So if a borrower is in the California state area and lives in one of the eligible counties the Golden One operates in, or works for an eligible institution, he can definitely become a member and take advantage of the current 2.79 percent rate offered.

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