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703-709-8900
200 Spring St
Herndon, VA 20170

Northwest Federal Credit Union is headquartered in Herndon and is the 3rd largest credit union in the state of Virginia. It is also the 50th largest credit union in the nation. It was established in 1947 and as of December of 2013, it had grown to 316 employees and 148,736 members. Northwest Federal Credit Union's savings rates are 4X the national average, and it has a A health rating.

Field of Membership Restrictions

Membership is open to: (1) Employees of specific U.S. Government Agencies, (2) Employees of Northwest Federal Credit Union member companies, and (3) Employees of NWFCU partner organizations. Family members and household members of any of the aforementioned groups also qualify for membership. If you find you are not eligible to join NWFCU via the relationships defined above, you can join by enrolling in the Financial Awareness Network (FAN), an organization dedicated to promoting and supporting financial education. There is one-time $10 fee to join FAN. FAN membership is open to anyone ages 13 and older. There is no additional paperwork. Simply select Financial Awareness Network (FAN) in the eligibility section of your Northwest Federal membership application and fund your FAN $10 membership fee. - See Details

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Reviews (8)

NWFCU Add-On CD

I have very good experience with NWFCU add-on CD. whenever you have some extra money, you can deposit it into the CD. I use internet online banking. However, they have partners in my area where I can do deposits, such as checks or cash. You can transfer or deposit money in your savings account, and transfer them to your add-on CD. Even though there normally is a hold on your check, the representative can waive it since the money stays in the Credit Union. I am very happy with their customer service too, very nice and helpful. Unfortunately their add-on CD promotion CD rate has gone. However, they still  have 2-year add-on CD with 1.51% APY.

OK Credit Union

I recently opened a Northwest Federal Credit Union and here are my thoughts so far.  The online process was fine for the most part, except when I didn't check off the right box for how I qualified to be a member.  Because of this, my application was in limbo until I called them to ask a question on what they call the "signature page" that you have to print out upon completion of the application, sign and mail back to them.  Okay, step one completed.  I had checked off that I wanted to apply for their credit card.  Again, that was in limbo too.  More than a week past until I again called and they took additional information from me to process the credit card.  They had asked how much I credit did I want.  They said if I didn't state how much then I would get the automatic $2000.  $2000???  Considering I have excellent and established credit, I was a bit insulted.  It wasn't worth it to open a credit card for that amount.  Again, I get more paperwork in the mail to sign and return.  I finally get my debit card in the mail.  Had to wait a bit to get my PIN.  Then I tried to change my address, but their policy is that you can't change your address within 30 days from opening a new account for security reasons.  Then I try to link up this account to another external bank account.  I was having a tough time and called their customer service number.  The rep was nice and friendly, but didn't know the answer nor did she try to problem solve.  So here is the bottom line.  NWFCU has nice customer service and you don't have to press a gazillion numbers when you call their call center to speak to a rep.  NWFCU was highly recommended by a friend and I was told they have good credit card rewards and that's my primary reason for opening the account.  However, compared to other banks and credit unions, they are a bit ancient in today's standards with technology and efficiency.  I am a member of 2 other banks and NWFCU has the least robust website and online banking.  They need a serious online banking upgrade.  In my other credit union, to qualify for free checking, you just have to meet 2 out of 3 of their criteria, both of which are very reasonable.  With NWFC, you have to meet all their criteria and I believe there are 5.  If you are looking for VERY basic online service and have patience - give them a shot.  If you want more capabilities from a bank - consider other options.  I probably won't used them for my primary banking transactions, but I thought I would give them a try. 

They False Advertise

This complaint is made because Northwest Federal Credit Union is not honoring their offer. The offer is still available on their website. This is surprising that a company will ruin its reputation by not honoring an offer.

The promised $300.00 for starting direct deposit with them. The offer is still on their site.

Happy | Northwest Federal Credit Union (NWFCU)

An attachment is also included. The date we signed up is on the attachment.

 

NWFCU has been contacted and indicated they will not be honoring the offer. Eventually  we hope that you agree that this is an acceptable business practice. We await your response.

 

 

Onlne Banking Service

Positive Side of being member of NWFCU is  that always a pleasure to contact the Personnels and branch Office  management at Herndon offices for their polite and very professional attitude. they follow your problems with extreme attention and courtesy. we like them.

 HOWEVER:

NWFCU online-Banking is not trustworthy. it is an outsourced Disaster online service with exclamation mark! even after update in 2012 got worse.

- Monitoring Transaction online DOESN'T  include those in process in real-time; only those already paid or will be paid in the next few days.

-ebills continuously corrupted and you need to update your user and password for payees...

-  you cannot correct or delete an ebill payment while you submitted 30 second before even if the system shows you can edit or delete that transaction... because the system locks your process  at the instant for the next day pay.

- Customer Service, Doesn't know anything because they outsourced online banking, and they need themselves to ask  for customers issues.                                                                                                                                                                      

I Love NWFCU!

I'm not sure about the validity of these complaints. I received the incentive for direct deposit and a decent credit limit. I also have a auto loan through them with a really low rate. I love the customer service and have always been treated with respect even when I set up my business account.

NWFCU Online Web Sucks

Excellent service, great program, great customer service but their online web, web access STINKS big time even after a 2012 upgrade.

Wait And Wait And Wait On Hold

If you like waiting on hold to speak to a customer service rep, this is the credit union for you.

Nice Check This Year-Just For Being A Member

Just for being a member - $75 dollar thank you check; they had a good year.



Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Northwest Federal Credit Union had $8.59 million in non-current loans and owned real-estate with $269.7 million in equity and loan loss allowances on hand to cover it. This gives Northwest Federal Credit Union a Texas Ratio of 3.19% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for Northwest Federal Credit Union decreased slightly from 3.58% as of December 31, 2012 to 3.19% as of December 31, 2013, resulting in a positive change of 10.93%.This indicates that the balance sheet and financial strength for Northwest Federal Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A

In the past year, Northwest Federal Credit Union has increased its total deposits by $77.2 million, resulting in 3.56% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Northwest Federal Credit Union has shown is excellent.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Northwest Federal Credit Union has $2.58 billion in assets with $269.7 million in equity, resulting in a capitalization level of 10.44%, which is above average.

Institution Statistics

Overall
NCUA #5500
Year Chartered1947
Employees316
Primary Regulator
Assets and Liabilities
Assets$2.58 billion
Loans$1.13 billion
Deposits$2.25 billion
Equity Capital$254.39 million
Loan Loss Allowance$15.30 million
Unbacked Noncurrent Loans$7.98 million
Real Estate Owned$608,000
Historic Data - December 2012
Assets$2.52 billion
Equity Capital$247.82 million
Loan Loss Allowance$15.57 million
Unbacked Noncurrent Loans$7.98 million
Real Estate Owned$598,000
Profit Margin - Quarterly
Net Interest Margin4.34%
Return on Assets0.94%
Return on Equity9.55%
Interest Income$79.70 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Northwest Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Northwest Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
2.28%-$1,500Youth Club Share Savings
0.50%--Share IRA
0.50%--Share Roth IRA
0.50%--Share Education IRA
0.25%--Share Savings
0.25%--Holiday Club

Northwest Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%$100k-Money Market

Northwest Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Premier Checking

Northwest Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.51%$100k-5 Year Share Certificate
1.51%$100k-Business 5 Year Share Certificate
1.41%$100k-4 Year Share Certificate
1.41%$100k-Business 4 Year Share Certificate
1.30%$100k-3 Year Share Certificate
1.30%$100k-Business 3 Year Share Certificate
1.15%$100k-2 Year Share Certificate
1.15%$100k-Business 2 Year Share Certificate
0.95%$500-2 Year Add-On Certificate
0.95%$500-Business 2 Year Add-On Certificate
0.80%$100k-1 Year Share Certificate
0.80%$100k-Business 1 Year Share Certificate
0.60%$500-1 Year Add-On Certificate
0.60%$500-Business 1 Year Add-On Certificate
0.59%$100k-6 Month Share Certificate
0.59%$100k-Business 6 Month Share Certificate
0.55%$100-1 Year Youth Add-On Certificate
0.52%$100k-3 Month Share Certificate
0.52%$100k-Business 3 Month Share Certificate

Northwest Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.51%$100k-5 Year IRA Certificate (Traditional,Roth,CESA,SEP)
1.41%$100k-4 Year IRA Certificate (Traditional,Roth,CESA,SEP)
1.30%$100k-3 Year IRA Certificate (Traditional,Roth,CESA,SEP)
1.15%$100k-2 Year IRA Certificate (Traditional,Roth,CESA,SEP)
0.95%$500-2 Year Add-On IRA Certificate (Traditional,Roth,SEP,CESA)
0.80%$100k-1 Year IRA Certificate (Traditional,Roth,CESA,SEP)
0.60%$500-1 Year Add-On IRA Certificate (Traditional,Roth,CESA,SEP)
0.59%$100k-6 Month IRA Certificate (Traditional,Roth,CESA,SEP)
0.55%$100-1 Year Youth Add-On IRA Certificate (Traditional,Roth,CESA,SEP)
0.52%$100k-3 Month IRA Certificate (Traditional,Roth,CESA,SEP)
Locations


Northwest Federal Credit Union Locations
Branch Office9730 Liberia AveManassas, VA 20110
Branch Office231 Maple Ave EVienna, VA 22180
Branch Office200 Spring StHerndon, VA 20170
Branch Office14419 Chantilly Crossing LnChantilly, VA 20151-2116
Branch Office200 Spring StHerndon, VA 20170-5241