For a limited time, Idaho-based Lewis Clark Credit Union (LCCU) is offering two exceptionally competitive Certificate Specials: 11-month (7.23% APY) and 19-month (6.43% APY). There is no set minimum opening deposit, but all funds must be new money, defined as “funds that were not at LCCU, in any type of account as of July 25, 2023.” There is no stated balance cap.
Let me state the obvious: these Certificate Specials will not be available long. The sooner you open one, the better.
Both Certificate Specials are also available as IRA Certificate Specials (Traditional), earning the same APYs with the same deposit requirements.
According to CSR, partial withdrawals are allowed, with an Early Withdrawal Penalty of 3 months for the 11-month Certificate Special and 6 months for the 19-month Certificate Special.
Many thanks to DA reader, mortimer, for the Forum post about these “wow-worthy” Certificate Specials.
Availability and Account Opening
Headquartered in Lewiston, Idaho, Lewis Clark Credit Union’s field of membership (FOM) is community-based, with individuals who live, work, worship, attend school, or volunteer in five Idaho counties (Clearwater, Idaho, Latah, Lewis, or Nez Perce) or any county in the State of Washington eligible to join. In the past few years, LCCU FOM has expanded significantly, with Washington membership eligibility increasing from three southeast counties to statewide inclusion.
Since my last blog post, LCCU has upgraded its online membership application, eliminating the need for documents to be sent/returned by mail and signatures done via Docusign.
As a condition of membership, you must purchase and maintain the minimum required share(s) as set forth below.
Par Value of One Share $5.00, Number of Shares Required 1.
Opening a Certificate Special can be done at any of the above-mentioned branches or over the phone. The funds to be used to open a Certificate Special must on deposit at LCCU prior to opening. According to CSR, once an account is opened and the funds for the Certificate Special are in your Regular Shares account, you can call LCCU (208.746.7233) and “request that a manager open your Certificate.”
LCCU participates in both the CO-OP Shared Branch network and the ATM network.
Funding and Other Details
The following information is from a conversation with CSR.
- Funding – ACH, wire, check, or CO-OP shared branch transaction.
- CO-OP Shared Branch Participate – Yes.
- Ownership – Individual, joint, or trust.
- Dividends – Compounded daily/credited monthly and can compound in the Share Certificate or be deposited into an LCCU checking/savings account.
- Maturing Funds – Transferred to an LCCU checking/savings account.
- Beneficiaries – Unlimited with equal shares; Social Security numbers not required.
- Grace Period – 10 calendar days before automatic renewal, with the 11-month renewing as a 12-month and the 19-month renewing as an 18-month.
- Credit Check – Hard pull when joining LCCU.
Credit Union Overview
Lewis Clark Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.23% (excellent) based on March 31, 2023 data. In the past year, Lewis Clark CU has increased its total non-brokered deposits by $18.5 million, an excellent annual growth rate of 10.11%. Please refer to our financial overview of Lewis Clark Credit Union (NCUA Charter # 68386) for more details.
In 1939, teachers in the Lewiston School District formed the Lewis Clark Federal Credit Union, which “promoted thrift and offered a source of credit for loans for provident and productive purposes.” The “Federal” part of the name was dropped in 1998, when the Credit Union converted to a state charter. Lewis Clark Credit Union is currently the 14th largest credit union headquartered in Idaho, with more than 19,000 members and assets in excess of $226 million. FYI – since my 2018 blog post, LCCU’s membership increased about 50%, with assets more than doubling.
How the 11-Month Certificate Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Lewis Clark Credit Union 11-month Certificate Special. The following table compares the 11-month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.
How the 19-Month Certificate Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Lewis Clark Credit Union 19-month Certificate Special. The following table compares the 19-month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.
The above information and rates are accurate as of 7/31/2022.
To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.