Celebrating Chris Loseth’s 35-Year Tenure as P1FCU’s President and CEO

Posted by Alyse Knudsen on August 7, 2024

Lewiston, Idaho-based P1FCU is honored to celebrate Chris Loseth’s 35th anniversary as President and CEO. Since joining P1FCU on July 31, 1989, Loseth has been a driving force behind the credit union’s growth, community engagement, and member-focused initiatives. 

Under Loseth’s leadership of putting members first, P1FCU has seen stable and prosperous growth. Per an annual report from 1990, the credit union’s asset size when Loseth started in 1989 was $29 million, and it has grown to over $2.2 billion as of the end of the 2nd quarter of 2024. Likewise, the credit union has grown in members from 9,815 in 1989 to 127,253 members at the end of the 2nd quarter in 2024. 

This growth stems from Loseth’s strategic mergers and transition from a federal to a state charter for the credit union in 2019. This transition allowed for further acquisition and development of branches in more locations. Mergers with Panhandle Credit Union in 2012 and Mountain Gem Credit Union in 2021 expanded the credit union’s field of membership as well. These business decisions highlight Loseth’s vision for growth and service to members. 

Tod Dickeson, President of P1FCU’s member-led Board of Directors commended Loseth’s service to the credit union, “On behalf of the board of directors, past and present, we would like to thank and congratulate Chris on 35 years of outstanding leadership with P1FCU. His vision, commitment and loyalty to our organization and community are something to be admired.“ 

Loseth places a strong emphasis on giving back to the community. In a “Business Person of the Year” profile by the Lewiston Tribune, Loseth said, “We have a social responsibility to the communities we are in. The residents of that city are the members of the credit union.” His ongoing commitment to community also resulted in him being named “Credit Union Professional of the Year” by the Idaho Credit Union League. 

In recognition of his contributions to the community, Loseth received the Don Poe Community Spirit Award from the Boys and Girls Club of the Lewis Clark Valley, reflecting his dedication to strengthening community bonds. Jon Evans, director of the Boys and Girls Club at the time, told the Lewiston Tribune, “Chris’s list of accomplishments in and around the community is amazing, as is the fact that he has consistently been a servant leader for so many years. Equally impressive is the fact that he instills this service mindset as a core foundation for his team at P1FCU.” 

This commitment is evident through P1FCU’s partnerships with numerous community organizations and initiatives. Notable collaborations Loseth has initiated include the P1FCU Activity Center at Lewis Clark State College, the P1FCU Kibbie Dome at the University of Idaho, the P1FCU Inpatient Wing at Tristate Health, the P1FCU Arena at the Walla Walla Fairgrounds, the P1FCU Sports Complex and P1FCU Performing Arts Center at the Lewiston High School, and P1FCU Pavilion at the Boys and Girls Club. 

Additionally, P1FCU supports local communities through their programs like Cash for Classrooms, Neighbors Feeding Neighbors, Season of Giving, and Champions for Change, and over 20 different community food banks. In 2023, P1FCU donated over $1.25 million to 486 different community organizations and staff members volunteered for 287 organizations and community events across Idaho, Washington, and Oregon. 

Loseth has also made contributions to the credit union movement, advocating for all credit unions in his time as President and CEO. He serves on the GoWest Credit Union Association’s Governmental Affairs Committee, Regulatory Advisory Committee, and the Federal and State Issues Work Groups. 

During challenging times, such as the 2007 economic recession and the COVID-19 pandemic, Loseth’s steady leadership ensured the continued prosperity and resilience for P1FCU. The credit union has grown from 16 employees and one branch in 1989 to over 415 employees and 34 branches across Idaho, Washington, and Oregon today. Under his guidance, P1FCU is recognized as the best credit union in Idaho by Forbes. 

Loseth places an emphasis on creating a positive work environment at P1FCU. Loseth has been quoted saying, “We have invested heavily in building strong organizational values that we reinforce daily throughout our organization as we strive to make P1FCU a place where our staff have careers, not just a job.” This investment in employees shows as P1FCU was named one of the best places to work in Idaho in 2023 and 2024. 

Loseth is committed to communities in his personal time. He has volunteered his time by serving as the Campaign Chair for the Asotin County Library, Honorary Campaign Chair for the Twin County United Way, founding member of the ROC Rescue Mission, served 19 years on the Asotin School Board, served on both the Lewis Clark State College Foundation and Career Advisory Board, and the Walla Walla Community College Entrepreneurship Advisory Board, and the Carpentry Board. He has also served on many various state and national boards and committees in his credit union advocacy role. 

Despite this being Loseth’s 35th anniversary, Loseth plans to stay on at the credit union for a few more years. Loseth has worked hard to lay groundwork in several new areas and plans to follow through on ensuring the continued success of P1FCU. He remains focused on the goal of serving P1FCU’s members, stating in a 2022 newsletter, “We are a member-driven credit union, and the needs of our members are the centerpiece of the products and services we provide, along with the way we increase our members’ experience on a day-to-day basis. Our members are the focus of all we work to accomplish each day.” 

Loseth attended Texas A&M University, earning his Bachelor of Science in Business Administration and Accounting before starting his career in credit union advocacy. 

Loseth’s goal in life is, “To give back more to the world than I take from it.” 

Posted in Idaho, Leadership, Top Headlines.