What types of investments does Golden 1 have?
Credit unions are regulated by the National Credit Union Administration (NCUA), an agency of the federal government. State Chartered credit unions in California, such as The Golden 1, are also subject to regulations established by the California Department of Financial Institutions (DFI). In general, the types of investments Golden 1 is allowed to make are limited and more conservative than those allowed at banks. Unlike banks which are allowed to invest in certain classes of common and preferred stocks, Golden 1 cannot and has not made these types of investments. Rest assured, we do not and have not owned any preferred stocks or equity investments in Fannie Mae, Freddie Mac, AIG, Lehman Brothers or Washington Mutual. Credit unions are allowed to invest in debt securities issued by Government Sponsored Enterprises (GSEs) such as Fannie Mae and Freddie Mac. These investments, which Golden 1 owns, are treated as U.S. agency securities in the marketplace, which is just below U.S. Treasuri
