Dedicated to Deposits: Deals, Data, and Discussion

8.00% 108-Day CD at an Idaho/Washington CU (Potlatch No. 1)


Potlatch No. 1 Federal Credit Union is offering a special certificate with a yield of 8.00% APY and a term of 108 days. The minimum deposit is $500. Funds must be new to the credit union. The offer is good through 9/14/2007.

The special is listed on the credit union's home page. There's no mention of a maximum deposit limit. Update: Readers have confirmed with the credit union that there's no maximum deposit limit. A branch visit is required.

The credit union also has some competitive standard share and IRA certificate rates. These include a 5.57% APY 60-month CD and a 5.51% APY 48-month CD with a minimum deposit of $10k.

Membership is open to those who live, regularly work, attend school, worship, perform volunteer services, or participate in associations headquartered in one of the following Idaho or Washington Counties: Clearwater, Benewah, Bonner, Boundary, Idaho, Kootenai, Latah, Lewis, Nez Perce, Shoshone, Valley, Asotin or Whitman. Please see their membership page for more details.

Branches are located in the Idaho cities of Lewiston, Orofino, St. Maries, Moscow, Post Falls, Ponderay, Culdesac, and Grangeville, and in the Washington state city of Clarkston. The credit union is federally insured by the NCUA (Charter # 2734). It has $252.4 million in assets and 34,206 members.
  Tags: Washington, Idaho, CD rates

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Comment #1 by Anonymous posted on
Just called and confirmed that there is indeed no maximum amount for the CD. That makes this very sweet for those who qualify to become a member. A branch visit is required to become a member.

Comment #2 by Neil (anonymous) posted on
I opened an account today with 200k.
simple, no problems earns interest until 1/8/2008.

Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
Thanks Anonymous and Neil for the info. Glad to see there's no maximum.

Comment #4 by Anonymous posted on
It is paid Quarterly on the average daily balance!... Is it same as compounded daily and credited monthly or quarterly????

Comment #5 by Ade (anonymous) posted on
Not sure if my post got accepted or not so I try it again here:

Hello, I congratulate and thank you for your fabulous work you're doing on bank deals! Could you or someone tell me if this offer is good, and also did anyone have acceptable experiences with this Indy company?): 5 or 6 month CD, $1000 min.: 5.70% APY and FDIC insured. Oh no! Just learned there's a $15 annual fee if below $10,000, plus a $25 to $30 account closing fee...

I saw some of the good deals you mentioned in your blog, but I had trouble connecting to them; i.e. Bank of America, being in NYC was the first I tried but unsuccessfully (however I see I won't make the minimum required...). If I may impose a little more on your kindness with a little dilemma?:

In 4 days my around $6000 IRA will mature, and in Oct. 25 around $30,000 will mature. Would it make sense to put the $6000 at my MM Everbank until the 2nd maturity, so as to have more money for the minimum deposit requirements, for which one can get higher rates? Or, should I just place it somewhere good and get ready for my Oct. 25 struggle to place it, again???

Thanks ever so much for any suggestions! :o) Adela