First Financial Northwest Bank Ups 48-Month CD Rate


Deal Summary: 48-month CD, 3.00% APY ($100k+), 2.50% APY ($25k+)

Availability: Nationwide

Last week, First Financial Northwest Bank (FFNB) raised the rate on its 48-month CD to 3.00% APY for deposits of $100k+. The three other tiered APYs are really not competitive; there are more than 20 banks and credit unions offering nationally available 4-year CDs at higher rates than the 2.50% APY ($25k+). The minimum deposit to earn the 3.00% APY is $100k and there is no stated balance cap.

3.00*%$100k-First Financial Northwest Bank48 Month IRA
OTHER TIERS: 0.75% $1k - $5k | 1.00% $5k - $25k | 2.50% $25k - $100k
3.00*%$100k-First Financial Northwest Bank48 Month CD
OTHER TIERS: 0.75% $1k - $5k | 1.00% $5k - $25k | 2.50% $25k - $100k
Rates as of July 19, 2018.

The CD is also offered as an IRA (Traditional, Roth), earning the same tiered APYs with the same funding requirements.

As stated on the Information and Disclosure page, the Early Withdrawal Penalty reads as follows:

The penalty is calculated based on the amount withdrawn and will be equal to 90 days’ simple interest for terms of 12 months or less, 180 days’ simple interest for terms of greater than 12 months but less than 48 months, and for a term of 48 or 60 months will be 365 days’ simple interest.

Accessing Funds Following Maturity

FFNB is one of those banks that makes funding a CD easy through an ACH transfer, but makes accessing matured funds a little more challenging. In a Live Chat, CSR stated, “Once the account matures we can wire the funds out for you certainly, but unfortunately we cannot perform an ACH out at maturity.” (The fee for a domestic wire is $30, with international wires costing $40.) CSR also stated that “a banker can close the account at no fee and mail a cashier’s check to you or to another institution.”


Headquartered in Renton, Washington, First Financial Northwest Bank offers its product line to all U.S. citizens and resident aliens with a valid Social Security number.

Opening the 48-month CD can be done online, or at any of tem full-service Washington branches located in Arlington, Bellevue, Bothell, Edmonds, Lake Stevens, Mill Creek, Renton (2), Snohomish, and Woodinville. All the branch locations are in the Seattle metro area.

Bank Overview

First Financial Northwest Bank has an overall health grade of "A" at, with a Texas Ratio of 0.48% (excellent) based on March 31, 2018 data. In the past year, FFNB has increased its total non-brokered deposits by $127.72 million, an excellent annual growth rate of 18.69%. Please refer to our financial overview of First Financial Northwest Bank (FDIC Certificate # 29058) for more details.

Established in 1923 as the First Federal Savings and Loan Association, First Financial Northwest Bank is currently Washington’s tenth largest bank with assets in excess of $1.2 billion. Beginning in 1991, a series of four name changes occurred, with the final re-brand in 2015. Joseph W. Kiley III, President and CEO of the Bank, stated in a July 2015 press release,

First Financial Northwest Bank better reflects who we are and what we do today as a leading, full-service community bank. For more than 90 years, we have innovated and evolved to meet all the financial needs of our customers and our new name reflects that we are more than just a savings bank.

In July 2017, FFNB expanded its footprint in the Seattle metro area by purchasing four Opus Bank branches in King and Snohomish Counties, assuming an approximate $102 million in deposits.

How the CD Compares

When compared to the similar length-of-term CDs tracked by that are available nationally, First Financial Northwest Bank’s 48-month CD APY currently shares the top spot with Connexus Credit Union’s 42-month Certificate APY, regardless of minimum deposit.

The above rates are accurate as of 6/15/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Seattle CD rates, 5-year CD rates, nationwide deals


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