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P1FCU (Potlatch No. 1 Financial Credit Union) is a credit union chartered in the states of Idaho, Washington, and Oregon. It is regulated and insured by the National Credit Union Administration (NCUA), a federal agency.

P1FCU was founded in 1938 by 12 employees of Potlatch Forest Incorporated. They pooled their resources together to provide financial services not offered by large banks at the time^[1]. It is headquartered in Lewiston, ID, and serves over 125,000 members and has over $2 billion in assets.  

History:

P1FCU started in 1938, with the first transactions completed from a cigar box in the back of a car trunk.  The credit union has since expanded to serve a broader membership base throughout the Inland Northwest, becoming one of the largest credit unions in Idaho.  

In 2012, P1FCU merged with Panhandle Credit Union.

In 2019, P1FCU transitioned from a federal to a state-chartered credit union^[2]. This transition allowed them to expand their charter and serve more members.  

In 2021, P1FCU merged with Mountain Gem Credit Union^[3], a Nampa, Idaho-based credit union. This merger was completed on August 2^nd, 2021, providing better services and ensuring financial stability to their members, expanding P1FCU’s charter to the Treasure Valley.

P1FCU is a member of the CO-OP Financial Services. Members pay no fees to use nearly 30,000 ATMs worldwide affiliated with the Co-Op Network.  

Operations/Services:

P1FCU has 27 branch locations throughout Idaho and Washington. Operating as a financial cooperative, being owned by its members, it follows a democratic structure in which members elect a volunteer board and a board of directors.  

They offer a wide range of checking and savings accounts, tools, and affordable loans for individuals, families, and businesses.^[4] With digital banking services that allow members to bank wherever they are and insurance and investment support, P1FCU strives to bring financial well-being for all.  

Since its founding, P1FCU has emphasized providing financial services to individuals who may not have access to traditional banking institutions. The original purpose, improving access to credit and financial resources, continues to guide its operations and member-focused approach.  

Leadership:

In 1989, Chris Loseth started his service as president and CEO of P1FCU^[5]. During this time, the organization has expanded from approximately $29 million in assets and fewer than 10,000 members to over $2 billion in assets and more than 125,000 members in 2025. This growth included multiple mergers and a transition to a state charter in 2019, enabling broader regional expansion.  

Loseth has also emphasized community involvement and credit union advocacy, serving on regional industry committees and supporting partnerships with local organizations throughout Idaho, Oregon, and Washington.  

Community and Partnerships

P1FCU supports its local communities through various programs and staff volunteer hours. Some programs they are involved in include Cash for Classrooms, Neighbors Feeding Neighbors, Season of Giving, and the Idaho Foodbank.  

Notable collaborations include the P1FCU Activity Center^[6] at Lewis Clark State College,The P1FCU Arena^[7] at the Walla Walla Fairgrounds, the P1FCU Sports Complex^[8] and P1FCU Performing Arts Center^[9] at the Lewiston High School, P1FCU Pavilion at the Lewiston Boys and Girls Club^[10], the P1FCU Inpatient Wing at Tristate Health^[11], and most recently, the collaboration with the P1FCU Kibbie Dome^[12] at the University of Idaho^[13].  

Reference