Highest yielding money market rates in Idaho

Below are the highest yielding money market account rates serving citizens of the state of Idaho.

If you are strictly after the best interest rate then you have a variety of options that will provide you with similar yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in these accounts, the higher the interest rate you will generally receive.

After sorting through dozens of interest rate tables belonging to banks and credit unions serving the state of Idaho, we have found that in many instances you will lock in more competitive rates with national institutions rather than local ones (if you are eligible). Before committing to one of the banks/credit unions listed below, you may want to browse through our national money market rates tables.

Keep in mind, money market rates are time-sensitive in nature, therefor you may want to refer to the date of this article for accuracy. As with all money market accounts, the interest rates are variable and are subject to change without notice.

Top 2 MMA (money market account) rates in Idaho:

(click on the institution for more information)

• Potlatch No. 1 Federal Credit Union: Lewiston, ID. Money market rate yielding 1.11% APY with a balance of between $500 and $100k. They actually have this money market account set up in three tiers, however each tier is currently providing the same interest rate. You may become a member of Potlatch No.1 Federal Credit Union if you live, regularly work, attend school, worship, perform volunteer services, or participate in associations headquartered in one of the following Idaho or Washington Counties: Clearwater, Benewah, Bonner, Boundary, Idaho, Kootenai, Latah, Lewis, Nez Perce, Shoshone, Valley, Asotin or Whitman. Contact: (208) 746-8900
• East Idaho Credit Union: Idaho Falls, ID. Money market savings account yielding up to 1.75% APY depending on your minimum balance. This account, like many money market accounts, is set up in three tiers. The first tier yields 1.0% APY with a minimum balance of between $2500 and $19,999. The second tier yields 1.25% APY with a minimum balance of between $20k to $74,999 and the final tier yeilds 1.75% APY on all balances above $75k. Membership is open to all employees who reside in, work in, are headquartered in or are paid from the Idaho counties of Bonneville, Butte, Custer, Lemhi, Clark, Fremont, Madison, Teton, and Jefferson and within a 25 mile radius of the City of Shelley.  Family members of eligible members of East Idaho Credit Union and persons retired as pensioners or annuitants from the above occupational categories are also eligible. Contact: (800) 528-2273

Both of the above institutions are federally insured by either the NCUA. If you live in Idaho and know of a better money market rate offered through your local institution, please share by leaving a comment.

Washington Federal Savings Bank CD rates (WA and ID)

Washington Federal Savings Bank is offering some fairly respectable returns on their FDIC-insured savings products. If you visit their website, however, you will not be able to find any savings rates posted. They may want to reconsider this (in our opinion) given the competitiveness of some of their current rates.

For terms up to 18 months they offer rates which are pretty much on par with the national average, however their 24 - 36 month CD rates are substantially above it.

After reaching out to a representative I found that these rates are available in both Washington state and Idaho. If you do not live in one of these two state you may want to dig through our archive of best cd rates to find products in which you CAN take advantage of.

Washington Federal Savings Bank CD Rates:

(available in Washington and Idaho)

• 24 month CD yielding 2.50% APY for deposits between $1,000 and $89,999. This rate gets bumped up to 2.55% APY with deposits of $90k and larger. The national average for 24 month CDs currently hovers around 2.05% APY.
• 36 month CD yielding 2.75% APY for deposits between $1,000 and $89,999. This rate is bumped up to 2.80% APY with deposits greater than $90,000. The national average for 3 year CDs sits at roughly 2.20% APY.
• 48 month CD yielding 3.0% APY for deposits between $1,000 and $89,999. This rate is also bumped up 0.05% to 3.05% APY with deposits of more than $90,000. The national average for 4 year CDs currently sits at around 2.40% APY.

As it states in their bank’s name (federal savings), Washington Federal Savings Bank specializes in savings products. They offer a wide range of savings accounts which include money market accounts, CD (certificate of deposits) accounts and interest checking accounts. They also offer some loan products and credit cards as well. Their mission is to provide every customer with personal service and attentiveness, to provide their customers with deposit instruments which are highly competitive with the larger institutions and to provide mortgage loans primarily to individuals seeking to purchase or refinance a home in the Bridgeport community, as well as the greater Cook and DuPage counties of Illinois. In following this mission, Washington will be able to maintain profitability and a strong capital position necessary to continue well into the future.

Best CD (certificate of deposit) rates in Idaho: Top 3

Below are the highest yielding CD rates available to the residents of Idaho. These come in the form of 11 month CDs, 21 month CDs, and 36 month CDs. After digging through dozens of rate pages by dozens of banks and credit unions serving the state of Idaho, we found that in some cases you can receive more competitive rates offered by national institutions rather than local ones. (Compare CD rates).

Although the financial institutions we’ve listed below do the majority of their business in Idaho, they still may have eligibility requirements which may prevent you from joining (even if you live in ME). Contact a representative to see if you can take advantage of their products.

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Top 3 CD rates in Idaho

(clicking on the institution will bring you to their home page)

• Idaho Central Credit Union: Twin Falls, ID. 11 month promotional CD with interest rate of 2.75% with a minimum deposit of $1,000. The average yield for 1 year CD’s currently sits at 1.65%. Outside of this promotional CD rate, Idaho Central Credit Union’s rates are far from spectacular. In fact, besides this promotion ALL of their certificate of deposit rates yield less than the national average. Idaho Central Credit Union was organized as a state chartered Credit Union on June 28, 1940 in Boise, Idaho to serve the financial needs of the officers of other credit unions operating in the State of Idaho. Who can Join? All employees of retail, wholesale, service and manufacturing establishments who reside in, work in, are headquartered in or are paid from Ada, Adams, Bannock, Bear Lake, Bingham, Blaine, Boise, Bonneville, Butte, Camas, Canyon, Caribou, Cassia, Clark, Custer, Elmore, Franklin, Fremont, Gem, Gooding, Jefferson, Jerome, Lemhi, Lincoln, Madison, Minidoka, Oneida, Owyhee, Payette, Power, Teton, Twin Falls, Valley, and Washington Counties. Idaho state employees and employees of micron (and Micron subsidiaries) are also eligible.
• Banner Bank: Twin Falls, ID. Promotional 21 month CD yielding 2.50% APY with a minimum deposit of $2,500. Founded in 1890, Banner Bank is a Washington state chartered commercial bank and a subsidiary of Banner Corporation, a $4.5 billion bank holding company. Headquartered in Walla Walla, Washington, Banner Bank began expanding its service area throughout the Pacific Northwest in the 1960s. Today, we operate 87 full service branches and 8 loan offices in 29 counties in Washington, Oregon, and Idaho. Banner Bank trades publically under the symbol BANR.
• Inland Northwest Bank: Spirit Lake, ID. 36 month CD yielding 2.80% APY with a minimum deposit of $500. Although this is one of the best rates for the 36 month duration, you can still find similar rates offered by national institutions such as Discover Bank. Initially, the bank operated from one location in downtown Spokane, Washington. Now, the bank has 11 branches, with 7 located in Washington and 4 in Idaho. Total assets have grown from less than $4 million to over $250 million. We are primarily engaged in the business of gathering local deposits and extending loans within our immediate market area. While we offer a full complement of competitively priced personal loans, the large majority of our loans have historically been made to small and medium sized businesses.

All of the above institutions are federally insured by either the FDIC or NCUA. If you reside in the state of Idaho and know of a better CD rate offered by your local bank or credit union, please share by leaving a comment.