Our Story

P1FCU was organized by 12 employees of Potlatch Forests Inc. and the original organization certificate was issued by the Farm Credit Administration on April 29th, 1938. The first organizational meeting was held almost one month later on May 20th, 1938, where 9 board members were elected after being nominated by the first nominating committee who was appointed by the original incorporators. Since May 20th, 1938, there has been a regular monthly board meeting for the credit union, per our bylaws. Over 75 years, that is more than 900 meetings!

P1FCU was formed by an organized group of people with a common bond who pooled their assets to provide loans and other financial services to each other. The first transactions were conducted out of the trunk of a car and funds were kept secure in a cigar box. By the end of their first year of operation the credit union grew to 353 members.

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  • Our Vision  

    P1FCU will strive to maintain and improve the credit union’s economic value to its members and potential members’ lives to remain relevant going forward into the future, to maintain and increase its market share in the credit union’s operational area, and to remain driven by the members it serves.

  • Our Credit Union  

    Credit unions are not-for-profit cooperatives formed by an organized group of people with a common bond, owned by members, and are operated by mostly volunteer boards. Members of credit unions pool their assets to provide loans and other financial services to each other.

    Other financial institutions are owned by outside stockholders and controlled by paid boards. These factors allow credit unions to pay dividends to their members (not shareholders) and offer them lower loan rates, higher savings rates and fewer service fees.

    P1FCU, a member-owned, not-for-profit financial cooperative, has a common bond consisting of a community charter of 13 counties in Northern Idaho and Eastern Washington. We were organized by a group of individuals with the desire to make lending more readily available for employees of Potlatch Forests, Inc. over 75 years later we are staying true to our organizational values while servicing members in a 13 county region.

  • Board of Directors   

    While the federal and state governments regulate credit unions, volunteer boards elected by their membership also govern them. Credit unions don’t answer to stockholders, but to each of their members. The democratic process of our members electing their volunteer board of directors is core to our member/owner tradition.

    Board of Directors

    Randy Buttenhoff
    Lindsay Caldwell
    Tod Dickeson
    Jim Fuller
    Gary Gilliam
    Tara Leer
    Chris Martson
    Doug Mushlitz
    Tom Pfliger

    Supervisory Committee

    Tom Luper
    Doug Mushlitz
    Ron Ramos