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$200 Checking Account Bonus at Northwest FCU - Easy Membership


Northwest Federal Credit Union

If you weren't able to take advantage of the $300 checking account bonus that Northwest Federal Credit Union (NWFCU) was offering in April, this new $200 offer may appeal to you. Unlike that old offer, this new $200 checking account bonus is being offered to all members who have not held a NWFCU checking account. To qualify for the first $100 requires 3 consecutive payroll direct deposits of at least $500 each received by 10/31/12. The second $100 requires that the account remain active and a minimum of two consecutive payroll direct deposits of at least $500 each received between 11/1/12 and 12/13/12. Full details are described at this NWFCU promotions page. The new checking account must be opened by 9/19/2012.

Below is a copy of the small print for this offer:

Qualifications for checking account apply. To earn $200 bonus; must be your first checking account with NWFCU and opened between 7/19/12 – 9/19/12. Closed accounts reopened during the promotion period are not eligible. Three consecutive payroll direct deposits of at least $500 each to the new checking account must be received by NWFCU between 7/19/12 – 10/31/12. $100 Bonus will be credited to member’s NWFCU checking account on the business day following the third qualifying direct deposit. Additional $100 Bonus will be credited to the checking account on 12/14/12 if account remains active and a minimum of two consecutive payroll direct deposits of at least $500 each have been received between 11/1/12 - 12/13/12 into the NWFCU checking account. The bonus will be reported on your year-end 1099-INT statement. Offer cannot be combined with other direct deposit offers.

There's also a sweepstakes for a Home Theater System. Qualifying for the bonus will automatically register you for this sweepstakes.

NWFCU Checking Accounts

Anytime there's a checking account promotion, you have to be careful about the qualifying checking account. Often there are fees that can eliminate the benefit of the bonus. That's not the case with NWFCU which has a free checking account called Basic Checking with no minimum balance requirements or monthly service fees.

NWFCU has other services that make it easier to manage a checking account. First, NWFCU is part of ATM networks which give members free access to ATMs around the nation. NWFCU members with checking accounts have free access to CO-OP and Alliance One ATMs.

Second, NWFCU is part of the shared branch network which allows members to conduct most account transactions at 4,500+ locations nationwide, including credit union branches and CU Family Service Centers.


NWFCU has an online membership application, and on the first page of the application it lists several options to qualify for membership including joining the Financial Awareness Network (FAN). This makes it easy for anyone to join with a $10 one-time fee. More details about the field of membership are listed in the credit union's Membership Eligibility page. You can also join by mail or at a branch. Details are described in NWFCU's Join Now page.


Many readers joined NWFCU when they used to offer competitive CD rates. Unfortunately, NWFCU's CD rates are not as competitive as they used to be. One exception is the 2-year Jumbo CD which has a 1.26% APY as of 7/24/2012. One note about the standard certificates is that higher rates (up 0.25%) are available to Premier Checking members and Heritage Club members.

Northwest Federal Credit Union Overview

Northwest Federal Credit Union branches are located in the Virginia cities of Manassas, Chantilly, Herndon and Vienna. You can also use shared branches for making deposits, withdrawals and for other common banking transactions.

It's a large credit union with over $2 billion in assets. The credit union has an overall health score at of 4 stars (out of 5) with a Texas Ratio of 8.78% (above average) based on March 2012 data. Please refer to our financial overview of NWFCU for more details. NWFCU is federally insured by the NCUA (Charter # 5500).

Other Credit Union and Bank Bonuses

We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.

You can view my latest bank bonus blog posts in this bank bonus page. I and readers often post on bonuses in the checking account deals forum.

  Tags: Virginia, checking account, Northwest Federal Credit Union

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Comment #1 by Anonymous posted on
I got $300 bonus by making 3 ACH deposits from another bank (no payroll deposits).

Comment #2 by Anonymous posted on
Which bank? Please share.

Comment #3 by Anonymous posted on
Alliant CU

Comment #4 by Anonymous posted on
Is that a known cu with over 70000 ATM locations like Northwest fcu? The service is second to none!

Comment #6 by Anonymous posted on
One cannot fathom how utterly despicable NWFCU's customer service is.  I went through hell and back to obtain a direct deposit bonus last year that resulted in an accusatory letter from the CEO who awarded me the bonus but banned me from the CU.  It took months of phonecalls, emails, faxes and the like to get the bonus offer and it wasn't until I threatened to take my plight to the media that they finally caved in and awarded me the bonus.  Be very careful with any bonus offers from this credit union, and document EVERYTHING you do with them as they are inconsistent and ambiguous with some of their promotional offer requirements.  I would stronly urge you to STAY AWAY from this credit union despite their generous promotions, because the old saying "if something is too good to be true, it probably isn't true" was proven many times over with my experience. I have worked in banking for many years and participated in a variety of promotions and have never come across the level of incompetence as I did with their supervisory staff.  Proceed with caution.

Comment #7 by Anonymous posted on
besides the checking account, which accounts can I fund with a Credit card?
I have to spend some money on some certain credit cards to fulfill the opening bonus requirement.

Comment #8 by Anonymous posted on
Can anyone tell me which banks work with push?  Discover, Ally, ING Direct?  tia