Idaho-based P1FCU currently has two competitive Special Share Certificates: 11-month (4.84% APY) and 7-month (4.32% APY). These limited-time offerings can be opened with a $500 minimum deposit, with no stated balance cap.
As stated in the P1FCU Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:
For certificates under 1 year, the amount of the
early withdrawal penalty is 90 days’ dividends.
Funding and Other Particulars
- Funding – ACH, wire transfer, check, or internal transfer.
- CO-OP Shared Branch Network – Yes.
- Maturing Funds – two options on online application: renew or internal transfer to Share Savings account.
- Dividends – compounded/credited monthly; two options on online application - stay on deposit in CD or internal transfer to Share Savings account.
- Grace Period – 10 calendar days before 11-month renews as a 12-month and 7-month renews as a 6-month.
- Beneficiaries – up to four, percentages assigned, Social Security numbers preferred by not required.
- Credit check – soft pull.
Headquartered in Lewiston, Idaho, P1FCU’s field of membership (FOM) is community-based and includes portions of Idaho and Oregon, and all of Washington state.
Idaho: “All employees, employers, students, and retirees” (basically all residents) of the Idaho counties of Ada, Adams, Benewah, Boise, Bonner, Boundary, Canyon, Clearwater, Gem, Idaho, Kootenai, Latah, Lewis, Nez Perce, Owyhee, Payette, Shoshone, Washington, or Valley are eligible to join.
Oregon: Individuals who live or work in the Oregon counties of Baker, Grant, Harney, Malheur, Morrow, Umatilla, Union, or Wallowa qualify for membership.
Washington: Individuals who live, work, worship, or attend school anywhere in the Washington State are membership eligible.
For all of the above-mentioned locations,
Credit union membership may also include any of the immediate
family of a person who is eligible for membership in the credit union.
Joining P1FCU and/or opening a Special Share Certificate can be done online, or at any of the 17 Idaho branches located in Athol, Bonners Ferry, Culdesac, Genesee, Grangeville, Hayden, Lewiston (3), Moscow, Nampa, Orofino, Osburn, Ponderay, Post Falls, Rathdrum, and St. Maries, or the ten Washington branches located in Brewster, Clarkston (2), Cle Elum, Colfax, College Park, Pullman, Spanaway, Tonasket, and Walla Walla. There are also two Oregon branches in Island City and Ontario.
The Regular Savings account ($35 minimum deposit) establishes P1FCU membership and “is your voting share of the Credit Union.”
P1FCU participates in the CO-OP Shared Branch and surcharge-free ATM networks.
CO-OP's nearly 30,000 ATMS and 5,000+ shared branches means you have more
direct, surcharge-free access to your money than most traditional bank customers do.
Credit Union Overview
P1FCU has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 4.21% (excellent) based on June 30, 2022 data. In the past year, P1FCU has increased its total non-brokered deposits by $221.55 million, an excellent annual growth rate of 13.7%. Please refer to our financial overview of P1FCU (NCUA Charter # 2734) for more details.
Established in 1938 by 12 employees of Potlatch Forests, Inc., (a leader in sustainable forestry), P1FCU was originally known as Potlatch No 1 Federal Credit Union. While many fledgling credit unions began in less than impressive surroundings, P1FCU didn’t even have a fixed location: the first transactions were conducted out of the trunk of a car, with the funds secured in a cigar box.
Membership grew to 353 in the first year of operation; 84 years later, P1FCU has grown to become Idaho’s second largest credit union, with nearly 119,000 members and assets in excess of $2 billion.
According to Wikipedia,
A potlatch is a gift-giving feast practiced by indigenous peoples
of the Pacific Northwest Coast of Canada and the United States.
How the 11-Month Special Share Certificate Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the FOM and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the P1FCU 11-Month Special Share Certificate. The following table compares the 11-Month Special Share Certificate to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.
How the 7-Month Special Share Certificate Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that available nationally and have minimum deposit requirements of $10k or less, one bank and one credit union have higher rates than currently offered on the P1FCU 7-month Special Share Certificate. The following table compares the 7-month Special Share Certificate 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 11/15/2022.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.