Update 6/28/13: I was told by a credit union rep that this CD special has ended.
Potlatch No 1 Federal Credit Union (P1FCU) has a hot deal on a 5-year CD anniversary special. In celebration of its 75th anniversary it’s offering a 2.75% APY 5-year CD. Minimum deposit is $500. This special is listed in a rotating image on the credit union’s front page. There’s also a static image of this special in the credit union’s Facebook page as of 6/10/2013. There’s no mention of an end date, but the small print does say that it’s a limited-time offer. Thanks to DA member Pearlbrown for posting on this deal in the forum.
Credit union membership is primarily limited to residents in parts of Idaho and Washington State. Details are available in the credit union’s membership page. Here’s an excerpt from that page describing who is eligible to join:
Live in, regularly work, attend school, worship, perform volunteer services, participate in associations, are a business or other legal entity, or participate in programs to alleviate poverty or distress, in the following Idaho and Washington counties:
Asotin, Benewah, Bonner, Boundary, Clearwater, Idaho, Kootenai, Latah, Lewis, Nez Perce, Shoshone, Valley, Whitman.
Membership requires a $35 minimum balance in the savings account.
P1FCU branches are located in several northern Idaho towns. Some of these include Lewiston, Moscow and Pullman. The credit union is also a member of the CU Service Centers which allows P1FCU members to use branches of other credit unions around the nation.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 4.10% (excellent) based on December 2012 data. Please refer to our financial overview of P1FCU for more details. The credit union is federally insured by the NCUA (Charter # 2734). The credit union also has ESI for additional deposit insurance (see my post on ESI coverage).
How This CD Rate Compares
This special 5-year CD is a hot deal. In today’s world it’s hard just to find a 2% 5-year CD. The highest 5-year CD rate that’s nationally available without a checking account requirement is 1.91% APY at Andrews FCU. This is accurate as of 6/10/2013.
Searching for the Best CD and IRA CD Rates
To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com: