Idaho Central Credit Union Review: Truly Free Checking and Reliable Mobile Banking

GOBankingRates Score

4.7
Our take: While some credit unions make becoming a member somewhat difficult, just about anyone who lives or works in Idaho or Washington can join Idaho Central Credit Union and access its wide range of products for low fees.
  • Community Presence
    4.8
  • Digital Banking
    4.8
  • Customer Service
    4.5
  • Fees
    4.5
How did we calculate this?

Pros

  • Easy process to join  
  • Wide variety of deposit accounts, as well as credit cards and loans 
  • Competitive rates on loans and savings

Cons

  • Membership primarily limited to people living in Idaho and Washington

    About Idaho Central Credit Union

    Idaho Central Credit Union is headquartered in Chubbuck, Idaho, and became state-chartered in 1940. There are 40 branches in the state serving over 400,000 Washington and Idaho members. Besides branch ATMs, members can make withdrawals at nearly 30,000 CO-OP machines. 

    Idaho Central Credit Union Products

    Here’s a quick overview of what Idaho Central Credit Union has to offer members. 

    Type Key Details
    Checking
    • Free Checking and Starter Checking options with no minimums or monthly fees
    • Money Market Checking option with up to 0.10% APY
    Savings
    • No minimum balance required to earn interest on some accounts
    • No monthly maintenance fees for most accounts
    • Up to six free withdrawals per month
    Money Market
    • $2,500 minimum balance
    • Six free withdrawals per month
    • $15 monthly maintenance fee, waived with $2,500 balance or higher
    Certificates of Deposit
    • Terms of 3-60 months
    • Earn up to 0.45% APY
    • $500 minimum deposit
    Credit Cards
    • Four Visa cards available
    Personal Loans
    • Personal
    • Vehicle
    • Student loans
    Home Loans
    • Mortgages
    • Refinancing
    • Home equity line of credit
    IRAs
    • Traditional, SEP or Roth

    ICCU Checking Accounts

    ICCU’s checking accounts break down into Free Checking, Money Market Checking or Starter Checking. Free Checking is the basic, fee-free option with no account minimums. The Money Market account is ideal for higher-balance holders looking to earn some interest. The Starter Checking account is designed for those ages 12-17.  

    Features  

    • Free ATM withdrawals and deposits at almost 30,000 ATM locations
    • Accounts come with a linked Visa debit card

    Pros

    • Totally free basic checking and teen checking account options with no minimums or monthly fees
    • 0.05%-0.10% APY with Money Market Checking account

    Cons

    • $10 fee for Money Market Checking with balances under $2,500 

    ICCU Savings Account

    Idaho Central Credit Union’s savings accounts are comprehensive. There are six accounts for youth and account holders with varying balances. There are no fees or minimums for all accounts except for High-Yield Online Savings — the $10 fee can be waived with a balance of $1,000 or more.

    Features  

    • Earn 0.05% to 0.15% APY based on your balance on all accounts except High-Yield savings
    • High-Yield Online Savings earns 0.50% on balances of $1,000 or more

    Pros

    • Low balance requirements of $300 to earn interest 
    • Six free withdrawals allowed each month
    • No fees on the accounts, except for High-Yield savings, which can be waived with a balance of $1,000

    Cons

    • Withdrawals after the six allowed per month cost $2 each

    ICCU Money Market Account

    A money market account combines the interest-earning power of a savings account with a bill-paying feature you’d find in most checking accounts. ICCU’s Money Market Savings account has a higher balance requirement ($2,500) than other of the credit union’s accounts, but you’ll earn 0.10%-0.20% APY, based on your balance.

    Features  

    • Tiered interest increases as your balance grows
    • $15 monthly maintenance fee is waived on a $2,500 balance or higher

    Pros

    • Six free withdrawals per month 
    • Free checks
    • Earn an APY of 0.10%-0.20%, based on your balance

    Cons

    • Withdrawals are limited to six per month before a charge applies

    ICCU CD Accounts

    Idaho Central Credit Union offers CDs to lock in a guaranteed interest rate. To get the highest CD rates, commit to the longest term you can. You can start with a $500 minimum. 

    Features  

    • Terms of three months to 60 months  
    • Earn between 0.05%-0.45% APY 

    Pros

    • One additional deposit is allowed within the first 60 days
    • Low opening amount of $500
    • 10-day renewal grace period

    Cons

    • Early withdrawals are subject to a penalty

    Banking Experience

    The typical Idaho Central Credit Union review from a member mentions the functional, user-friendly mobile app and the personal service received at a branch. Banks aren’t always strong in both digital and in-person banking, but ICCU seems to do both well. Here’s more.

    Customer Service

    You have options when you need help or have questions about ICCU products or services. Here’s what to do:  

    • Call 800-456-5067 weekdays from 7 a.m. to 7 p.m. MT or Saturdays from 8 a.m. to 4 p.m. MT.
    • Request a video chat.
    • Visit a local branch.
    • Submit a question through the website.
    • Log in to your account online or use the mobile app contact feature.

    Accessibility and Branch Availability

    ICCU has 40 branches across the Treasure Valley, Magic Valley, eastern Idaho and North Idaho. Besides branch ATMs, members can make withdrawals at close to 30,000 CO-OP machines.

    Mobile and Digital Experience

    ICCU’s digital experience is highly rated. Its mobile banking app has a rating of 4.9 out of 5 stars on the App Store.

    Features of the mobile banking app include:

    • Account management 24/7
    • Mobile check deposit
    • Transfer funds
    • Pay bills

    The app uses industry-standard encryption and works with your smart device’s security protocols.

    In addition to its mobile banking app, the credit union offers apps that let customers manage their credit and debit cards or video chat with an ICCU representative. The ICCU VideoChat and CardControl apps are both available via the App Store and Google Play.

    Convenience and Ease of Use

    The mobile banking app doesn’t provide groundbreaking services but does the basics reliably and well. In addition, the online platform is simple to use and navigate, making ICCU’s digital presence a positive selling point.

    How To Open an ICCU Account

    You may open an account online or at a local branch. First, you’ll need to become a member by showing you live and/or work in Idaho or Washington state and pay the $5 membership fee.

    To open an account, you’ll need to gather the following information:

    • A photo ID
    • Social Security number
    • Two years of address and employment history
    • An external bank account and routing number for the first deposit

    Key Information

    Customer service number: 800-456-5067 

    Routing number: 324173626 

    Idaho Central Credit Union Fees

    Just like other financial institutions, ICCU’s accounts may come with additional fees. They include: 

    Idaho Central Credit Union vs. Competitors

    ICCU has several competitors in its geographic area. Here’s how they compare:

    Bank Best For
    Idaho Central Credit Union Idaho and Washington residents in search of competitive rates and low fees
    Connections Credit Union A more personal banking experience
    Bank of Idaho Eastern Idaho residents 
    D.L. Evans Bank Customers new to banking

    ICCU vs. Connections Credit Union

    ICCU and Connections both serve the Idaho area, but Connections has a smaller presence than ICCU’s wide network of ATMs and branches, with just 11 physical locations. However, the fewer branches provide an opportunity to get to know your banker, which may come in handy when you need a loan or help.

    ICCU vs. Bank of Idaho

    Residents in the eastern part of Idaho may want to look at Bank of Idaho as an alternative to ICCU. Besides the convenience of having nine branches in the area, Bank of Idaho adds wealth management services, which ICCU does not offer. 

    ICCU vs. D.L. Evans Bank

    D.L. Evans Bank is a homegrown bank that has been providing account services to Idaho customers since 1904. Although it’s not a credit union like ICCU, it attempts to stay competitive with its Free Community checking account with no fees and a $100 minimum balance.

    Final Take

    Idaho Central Credit Union provides quality, low-cost banking and competitive APYs on your balances if you live in Idaho or Washington. You’ll have access to nearly 30,000 ATMs through the CO-OP network. Membership is open to residents of either state, making it simple to join and take advantage of what the credit union has to offer. And best of all, you can open an account online from the comfort of your home. 

    Editor’s Favorite

    Idaho Central Credit Union’s Free Checking account offers everything you’ve come to expect, including a Visa debit card, free direct deposits and online bill pay without the hassle of fees or minimums. 

    Idaho Central Credit Union FAQ

    Now that you know more about the products and services ICCU has to offer, here are answers to some of the credit union's frequently asked questions.
    • Does ICCU offer free money for signing up for an account?
      • ICCU doesn't have any specials at this time for opening a new account, although it occasionally does run promotions. It's best to check back periodically or call customer service and ask for any new account sign-up bonuses.
    • Does ICCU have free coin-counting machines?
      • Idaho Central Credit Union is one of the few financial institutions left that offers account holders free coin counting at select branches. 
    • Can I get a Visa prepaid card?
      • ICCU offers prepaid Visa cards for $4.95. They come with a $3 monthly fee and can be reloaded with $20 to $3,000.

    Rates are subject to change. Information on accounts is accurate as of Feb. 5, 2021.

    This content is not provided by Idaho Central Credit Union. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Idaho Central Credit Union.

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    About the Author

    Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.

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