Still Early But So Far So Good
I've only had HY Savings (5.30% 07/05/24) account for less than 2 weeks and so far things are going well. Push/pull transfers initiating from my ext. checking took 2 business days for funding so thats a plus!
The website is very simple and straightforward.
Confusing Rate Information
I've had my account since August of 2024. A little confusing in the beginning with using Idaho First to create an account. Very confusing with interest rates. Online account only shows interest rate, no APY. Peak website shows 4.54 APY. So does DepositAccounts.com. But keep in mind, that it's for new customers only. As of today (March 2025) the real APY for existing customers is 4.35. And you can only see it on your monthly statement. Or by asking customer support, which by way, is excellent. They always reply to online messages and to emails.
They Force You To Use Plaid For Initial Funding
Their online application requires an initial funding transfer, which can only be done thru Plaid. There is no option to use the traditional account number/routing number method where they send you test transactions and you verify the amounts. Instead, they force you to log into your external bank account and grant a third party company, Plaid, full access to all your banking data, including full statements, balances, transactions, cancelled checks etc. It's a security nightmare. Imagine if Plaid were to get hacked! I won't spend any more time talking about why this is a terrible idea, because there is already plenty of good info online about this. Anyway, I called the bank and asked if I could bypass Plaid and fund my new account another way, but they said they were not allowed to do that. So I had no option but to cancel my application. I give them points for answering the phone promptly, but that's the only good thing I can say about them. Hard to respect a bank that doesn't respect my data.
Deceptive Bank
The APY IS NOT 4.75%. This bank will lure you in and then after a week they will lower the rate to 4%. without any notification hoping you won’t notice
Then if you question why the rate is not as advertised they will tell you the 4.75 is for
NEW customers only !!!
A week later you’re not considered a new customer anymore !!!
How disgusting this bank is. They need to be reported immediately. Shame on them
They are sneaky thieves and cannot be trusted at all.
Idaho First DBA. “peak bank “ should be ashamed of themselves for exploiting unsuspecting consumers HOW dare they
They’re criminals
Data as of Q4 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58095 |
| Year Established | 2005 |
| Employees | 88 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.86% |
| Return on Equity - YTD | 8.33% |
| Annual Interest Income | $42.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $827.7MM$629.7MM |
| Loans | Q4 2024vs Q4 2023 | $537MM$522.6MM |
| Deposits | Q4 2024vs Q4 2023 | $736.9MM$546.9MM |
| Equity Capital | Q4 2024vs Q4 2023 | $84.4MM$67MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $7.1MM$6.6MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $684K$0 |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |