Freedom Northwest Credit Union

Overview / Commentary
303 Main Street
Kamiah, ID 83536

Freedom Northwest Credit Union is headquartered in Kamiah and is the 11th largest credit union in the state of Idaho. It is also the 982nd largest credit union in the nation. It was established in 1963 and as of June of 2020, it had grown to 38 employees and 9,429 members at 2 locations. Freedom Northwest Credit Union's money market rates are 14% higher than the national average, and it has a B+ health rating.

Related Posts

Freedom Northwest CU: "Rate Rise Money Market" account -- up to 1.25% APY - 10/26/2020

(apologies if this has been previously posted) "Rate Rise Money Market" account four tiers: 0.50% | 0.75% | 1.00% | 1.25% Minimum Deposit of $10,000. Must have an associated checking account. With associated checking account balance of less than $5,000, your Reward Money Market will earn the current Regular Money Market rate. If your associated checking account has a balance between $5,000 and $9,999, you’ll earn an additional 0.25% APY on your Reward Money Market account rate. If your associated checking account has a balance between $10,000 and $14,999, you’ll earn an additional 0.50% APY on your Reward Money Market account rate. If the balance in your associated checking account has a balance of $15,000 or more, you’ll earn an additional 0.75% APY on your Reward Money Market Account rate. Checking account info at https://www.fnwcu.o

Freedom Northwest CU Offer Partial Penalty-Free CD Withdrawals. - 3/20/2020

Dear Member: The COVID-19 crisis has caused a substantial disruption to our members' daily lives (health, work, church, schools, businesses). It has also caused a substantial revaluation in the financial markets. In an effort to provide options during these times of disruption, we are allowing members to take PENALTY FREE early withdrawals from CDs. We are limiting this offer to 50% of a CD's balance. For amounts over 50%, regular penalties would apply. Also, this offer can expire at any time and without notice. Requests will be handled on a first come, first serve basis. With the recent drop in yield on insured assets, the relative value of CDs owned by our members has increased. Therefore, we aren't encouraging early withdrawal. However, some members have desired to get more liquid to help an impacted family member. Other members have wanted to take advantage of the dramatic correction in equity and asset prices by rebalancing their investment dollars. Another member wanted to hel

Freedom Northwest Credit Union Update - 3/5/2020

Freedom Northwest Credit Union (easy membership) had been offering very competitive CD rates, but as of 3/5/2020, the credit union has suspended the opening of new CDs.

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Reviews (3)

Amazing Credit Union

Freedom Northwest CU burst onto the scene and lit up the Blog in March 2020 as the result of offering top CD rates, but as I write this review there is only one other review posted here in the Review section. As time passes it is probably less likely that someone researching this institution will end up finding that part of this site, so I wanted to reference that resource.
Like many users of I am on the lookout for the best CD rates nationally and am ready to move money fairly quickly to capture them. I am not looking for a new, primary financial institution, so my reviews do not consider other services such as loans or checking accounts.
Freedom was the easiest and fastest Credit Union, that I have encountered, to join and get a CD established.
The new member process needs to be initiated by a phone call. Their website does not accommodate that. But they handle the basics on the phone and through follow-up emails with documentation. Many have commented that they got through the process and initiated funding all in the same day.
Membership is accomplished with a fee of $30, which Freedom splits into a $20 qualifying contribution, $5 fee to Freedom and $5 minimum balance in your membership savings account. These small costs are worth it in return for speed. Also, unlike many CU's, they do NOT do a hard credit pull as part of membership application. They use ChexSystems to decide on membership application. Another delay reducer (unless, I suppose, you have a negative rating there). You can fund your accounts by ACH or wire transfer which Freedom will initiate for you.
Having done that, you can then apply for online banking, which again is not done online, but requires a phone call to get the authorizing documents (by email). But that too is smooth and fast and once set up you can establish ACH transfer capability, to permit conventional online account management (through your member savings a/c). Although phone calls are needed, as indicated above, it is almost a joy to go through this step as the service reps are pleasant and helpful. The online software is efficient and easy to use.

It Doesn't Get Any Better !!

Posted by: |

Was attracted to their 3.2% 5-year CD offering. Called to see if I was eligible to be a member and what it would take to become a member an open an account with them.

With their help, I was able to become a member, wire them the funds, and get my CD opened all in the same day - something I've never been able to accomplish in the past !!

Highly recommended for that reason.

Beware Advertised Rate

Posted by: |

The RISING RATE money market is advertised with a 1.25% rate. This is WAY misleading. It is the max rate that you can earn, but only on the money market portion. Don't stop there.

FIRST you must start off with 10K in the money market, then YOU MUST open a checking with 15K average min balance that pays you ZERO.

They don't put the two together, but when you do, the APY is $125 divided by $25,000 = .005

It is unfortunate that they do not handle these two REQUIRED balances into a STEP rate with the REAL APY being shown.


Health Grade Components

NCUA #65722
Year Chartered1963
Primary Regulator
Profit Margin
Return on Assets - YTD1.82%
Return on Equity - YTD24.12%
Annual Interest Income$6.1MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$260.2MM$171.9MM
LoansQ2 2020vs Q2 2019$198.4MM$144.9MM
DepositsQ2 2020vs Q2 2019$205.2MM$131.9MM
Equity CapitalQ2 2020vs Q2 2019$19.3MM$15.3MM
Loan Loss AllowanceQ2 2020vs Q2 2019$502.00K$436.00K
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$937.00K$1.2MM
Real Estate OwnedQ2 2020vs Q2 2019$229.00K$117.00K
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Always verify rates and promotions with the bank or credit union. We are not Freedom Northwest Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Freedom Northwest Credit Union Savings Account Rates

1.00%--IRA Savings
0.25%--Holiday Savings
0.05%--Savings (Share)

Freedom Northwest Credit Union Money Market Rates

1.25%*$15k*-Rise Money Market
OTHER TIERS: 0.50% Up to $5k | 0.75% $5k - $10k | 1.00% $10k - $15k
0.50%-- Money Market

Freedom Northwest Credit Union Locations
Branch Office201 Rivers LoopKooskia, ID 83539
Branch Office303 Main StreetKamiah, ID 83536

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