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Potlatch No 1 Federal Credit Union

Top 5-Year CD Rate Special at P1FCU in Parts of ID and WA


Update 6/28/13: I was told by a credit union rep that this CD special has ended.

Potlatch No 1 Federal Credit Union (P1FCU) has a hot deal on a 5-year CD anniversary special. In celebration of its 75th anniversary it’s offering a 2.75% APY 5-year CD. Minimum deposit is $500. This special is listed in a rotating image on the credit union’s front page. There’s also a static image of this special in the credit union’s Facebook page as of 6/10/2013. There’s no mention of an end date, but the small print does say that it’s a limited-time offer. Thanks to DA member Pearlbrown for posting on this deal in the forum.

Credit union membership is primarily limited to residents in parts of Idaho and Washington State. Details are available in the credit union’s membership page. Here’s an excerpt from that page describing who is eligible to join:

Live in, regularly work, attend school, worship, perform volunteer services, participate in associations, are a business or other legal entity, or participate in programs to alleviate poverty or distress, in the following Idaho and Washington counties:
Asotin, Benewah, Bonner, Boundary, Clearwater, Idaho, Kootenai, Latah, Lewis, Nez Perce, Shoshone, Valley, Whitman.

Membership requires a $35 minimum balance in the savings account.

P1FCU branches are located in several northern Idaho towns. Some of these include Lewiston, Moscow and Pullman. The credit union is also a member of the CU Service Centers which allows P1FCU members to use branches of other credit unions around the nation.

The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 4.10% (excellent) based on December 2012 data. Please refer to our financial overview of P1FCU for more details. The credit union is federally insured by the NCUA (Charter # 2734). The credit union also has ESI for additional deposit insurance (see my post on ESI coverage).

How This CD Rate Compares

This special 5-year CD is a hot deal. In today’s world it’s hard just to find a 2% 5-year CD. The highest 5-year CD rate that’s nationally available without a checking account requirement is 1.91% APY at Andrews FCU. This is accurate as of 6/10/2013.

Searching for the Best CD and IRA CD Rates

To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com:

Related Pages: Potlatch No 1 Federal Credit Union, Spokane, CD rates

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Anonymous   |     |   Comment #1
That deal is not merely "hot".  That deal is SIZZLIN'!!!


If there is an upper limit on your deposit amount that's too low, then I'm wrong.
Anonymous   |     |   Comment #2
In seeing this post about 2.75%, I was reminded of something a few years back.

I remember once visiting Bermuda years ago, going into a local bank (Butterfield Bank) and asking them what it takes to be able to open up an account with them, as there had been a lot of problems with Bermuda banks laundering drug money and new rules had been passed. I had no intention of doing so, but was curious what these stricter new regulations were on those who could open accounts. I was told that now, thanks to these new rules, you must simply have a local Islander vouch for your good character. (Hm, pay some local bub $100 to have him "vouch" for you?)

In seeing this post about a 5yr CD paying 2.75% in today's environment (especially at a CU with a good health score), one might be almost half-jokingly tempted to fly to Idaho and simply pay someone $100 to say they "live" with them... if they have enough money, 2.75% is a HUGE difference. I'm only joking of course. But makes one wish one had relatives in Idaho...

Anonymous   |     |   Comment #3
#2, just tell them you worship in a church in one of those listed county and your are all set.
Anonymous   |     |   Comment #4
Anyone ever look at annuities?  They make it look very simple but when you start looking.....it seems to get very confusing.......plus I hear the brokers take a huge fee. And if you read the fine print......I guess they actually only have to pay you a return of the guaranteed minimum.......even though they claim all this bonus amount and 8-10%. Sorry......too complicated for a simpleton like me.
Anonymous   |     |   Comment #5
I sometimes wonder about the implications of annuities and wish Ken would write something about their pros and cons.   The above credit union deal sounds good.
lou   |     |   Comment #6
Does anyone know the early withdrawal penalty?
Rosedala (anonymous)   |     |   Comment #7
To Anon. #4:  I have several annuities and am just as simpleton as you are!  Just make sure you buy ONLY the fixed, CD-type annuities and choose the length of time you wish.  The agencies take around 1 or 2% and the agent I have seems very honest.  I can only tell you about the ones I bought many years ago, and again a few years ago and I'm very happy with them.  Be patient and read the small print carefully and thoroughly.  ASK QUESTIONS!!!  Good luck and enjoy them!  :o)