Northwest Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	HOW THEY COMPARE
2.89%	5-year CD	2.27% - National Average
1.92%	2-year CD	1.68% - National Average
2.50%	1-year CD	1.38% - National Average

View all Northwest Federal Credit Union rates »

Overview / Commentary

www.nwfcu.org

703-709-8900

200 Spring St
Herndon, VA 20170

Northwest Federal Credit Union is headquartered in Herndon and is the 4^th largest credit union in the state of Virginia. It is also the 61^st largest credit union in the nation. It was established in 1947 and as of December of 2018, it had grown to 508 employees and 265,841 members at 9 locations. Northwest Federal Credit Union's CD rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Northwest Federal Credit Union is open to anyone by joining the Florida Literacy Coalition ($10 membership fee). Membership is also open to employees of the Central Intelligence Agency, the National Reconnaissance Office, office of the Director of National Intelligence, personnel assigned or detailed to the Department of Homeland Security and people retired from these agencies and to employees of member companies and members of partner organizations.
See current membership details

Northwest FCU: 15-Month CD, 2.85% APY - 11/20/2018

Northwest Federal Credit Union is offering a 15-Month "Giving Thanks Certificate" with a yield of 2.85%. Fine print: Minimum $25,000 balance to open a Giving Thanks certificate, with a maximum combined balance per member of $1 million in all/any Giving Thanks certificates. Giving Thanks certificate must be opened Online, in Online Banking or in a Northwest Federal Credit Union branch to be eligible for 2.85% APY. No bump rate eligible for Giving Thanks certificate. Not eligible for IRA, ESA, Roth, SEP, and Add-on Certificates. At renewal, certificate will auto-renew into current 12-month certificate rate unless otherwise designated. https://www.depositaccounts.com/banks/northwest-fcu.html#newPromo (Heritage Club bonus rates do not apply to Northwest's promotional CDs.)

Upto $300 For New Checking Accounts - 10/22/2018

https://www.nwfcu.org/greatchecking "$300 Deposit with New Checking!** Open your first-ever checking account with Northwest Federal in one of our branch locations between October 1, 2018 and December 31, 2018 to earn $300!** See below for complete details and qualification requirements. *Offer runs from September 1, 2018 through November 30, 2018. $2 will be donated to the community partners within the member's chosen path, up to a total donation of $2,000, for every Northwest Federal member opens a Kasasa Cash or Kasasa Cash Back checking account during the promotional period. ** In-branch only limited time offer available 10/1/18 – 12/31/18. To earn $300 deposit into your checking account in the first 90 days after account opening you must: Open first-ever consumer checking account with Northwest Federal in one of our branch locations, be 18 years of age or older, be in good standing, make a minimum of three direct deposits into the checking account with a minimum of $250 each dep

NWFCU 7Mo. Heritage Club Members Get 1/4% More - 10/6/2018

My 3 year 3% is also coming due after the holiday so it will probably be very busy everywhere. I received the notice, faxed it in and decided to renew to a 7month 2.75%, (Heritage Club 1/4% higher). My reasons were: 1. Their rates over the last 10 years have been very good. (ex: the 3% account I am closing.) 2. I don't want to close out my account to go through the process of re-joining, nor worry about "inactivity fees" chasing a promo that might "end at any time". 3. 7 months is a short term, rates are rising, so I will hopefully be in a good position to find a rate of 3%+ at the end of the term. Do you think I was wrong in my decision? Why?

View all posts from:

2018
2017
2016
Earlier

11/20 - Northwest FCU: 15-Month CD, 2.85% APY
10/22 - Upto $300 For New Checking Accounts
10/6 - NWFCU 7Mo. Heritage Club Members Get 1/4% More
9/28 - NWFCU CD Rate Matching :(
9/25 - 2.50% 7 Months
9/12 - Northwest Federal Credit Union
6/11 - Northwest FCU 5-Yr. Appreciation CD Special Seems To Have Ended
5/21 - NFCU Offering To Convert 3 Yr Add-On To Current 5 Yr Promo CD
4/20 - Northwest FCU Adds 5-Year Appreciation CD
4/20 - Northwest FCU Offering Up To 3.45% APY On 5-Year CD
4/20 - Northwest FCU: 5-Yr. CD, Up To 3.41% APY
4/6 - Northwest FCU Adds Kasasa Cash and Kasasa Saver
4/5 - 2% Kasasa Cash Checking At NWFCU (Upto $15K)
3/6 - (See Note) NWFCU Leaving Shared Branch Network

7/26 - Northwest FCU Raises Longer-Term Rates
7/5 - NWFCU 30-Month Celebration Special No Longer Listed
6/2 - Northwest FCU Ups Rates On 1- And 2-Year Share Certificates
5/9 - Celebration Certificate Is Still Around - 30 Months - 2.02% APY
4/19 - Celebrate With NorthWest FCU's 30-Month Certificate
4/19 - Celebration Certificate - 30 Month - 2.02% APY

12/28 - Northwest FCU's 1-Year CD Has Potential 0.25% Rate Bump
6/14 - Northwest FCU Offers Bonus Rate On Share Certificates
6/11 - Northwest FCU - Possible 2.47% 5 Year CD

10/1/15 - Northwest FCU Has Limited Time, Top Rate 3-Year Add-On CD
4/3/15 - Northwest FCU Introduces Top-Rate 18-month CD - Easy Membership
3/6/15 - Northwest FCU (Easy Membership) Offers Competitive Rate 12-month CD
3/5/15 - Northwest Federal CU (1 Yr CD, 1.21%APY)
7/10/14 - Northwest Federal CU amends Online Banking and BP agreement effective 6/19/14
4/3/13 - Top 2-year CD Rates at Northwest Federal Credit Union - Easy Membership
2/4/13 - $100 Checking Account Bonus at Northwest FCU - Easy Membership
9/19/12 - Credit Unions Offering Virtual Safe Deposit Boxes
7/24/12 - $200 Checking Account Bonus at Northwest FCU - Easy Membership
6/13/12 - Northwest FCU Offering 2-Year CD At 1.51%, Various Other Competitive Terms -- Nationally Available, Easy Membership
4/22/12 - Checking Account Bonus At Northwest FCU - YMMV
2/16/12 - Top CD & IRA CD Rates at Northwest Federal Credit Union - Easy Membership
11/1/11 - Checking Account Bonus & Top Features at Northwest FCU in Virginia
5/25/11 - $100 Checking Account Bonus at Northwest Federal Credit Union - Easy Membership
9/6/10 - $110 Checking Account Bonus at Northwest Federal Credit Union in VA - Easy Membership
12/20/09 - Competitive 2- and 5-Year CDs at Northwest FCU - Available Nationwide
12/20/09 - Competitive 5-Year CD at Northwest FCU with Useful IRA Feature - Available Nationwide
9/2/09 - Competitive Mid-Term and Long-Term CD Rates at Northwest FCU - Easy Membership
3/9/09 - 3.75% 2-Year Add-On CD at Northwest FCU in Virginia - Easy Membership
3/3/09 - 4.88% 5-Year CD and Other High CD Rates at Northwest FCU in Virginia - Easy Membership
7/1/08 - 5.15% 60-Month / 4.40% 24-Month CD at a Virginia CU (Northwest).
5/3/08 - 5.30% 60-Month / 4.96% 36-Month CD at a Virginia CU (Northwest).
4/29/08 - 4.00% 24-Month CD at a Virginia CU - Plus $100 Checking Bonus (Northwest)
3/22/08 - 4.44% 60-Month / 3.98% 36-Month CD at a Virginia CU (Northwest).
11/15/07 - Update #2 on Northwest FCU and its 6.00% 18-Month CD
11/15/07 - 6.00% 18-Month CD at a Virginia CU (Northwest)
11/15/07 - Update on Northwest FCU and its 6.00% 18-Month CD

Reviews (17)

Featured Account Options

Best Credit Union Ever !!

Posted by: Meehl0069 | Jun 6, 2018

They called me many times to make sure I was HAPPY after I opened my account. !! Yes It's True !!

Comment

One Despositaccounts.Com Experience

Posted by: zz | Oct 17, 2015

Completed application 10/3. Heard nothing. Called them, transferred to phone mail, mailbox full. Told by others on this web site to upload drivers license and did that. Emailed them, no response. Found out their email works when I received an email from them today that my application was cancelled. No reason why. Just told to call 703-709-8900 option 5. Called them, transferred to phone mail, mailbox full. This is well after their promotion ended. UPDATE: They responded to my email and agreed it should have been opened and they opened it. Ultimately a good result but an awkward way to get there.

NO Customer Service At ALL

Posted by: Sheryl Montgomery | Oct 4, 2016

I've been trying to open a $50,000 cd at this Credit Union. I've so far invested almost 2hrs yesterday. And still it isn't done. I've been on hold trying to contact them for over 1hour so far. I would definitely discourage anyone to do business with them. Customer service is nonexistent . UPDATE: We did finally connect with customer service. Must have been a glitch with there incoming calls. I received an apology which was greatly appreciated. However, your website is just not that user friendly for new accounts. Needs some tweaking for sure.

Comment

Horrible Service

Posted by: tinman | Oct 9, 2015

I am attempting to open an account with this bank to take advantage of the current promotional rate CD.

I was initially impressed that their online application walked your through the membership criteria of joining their Financial Awareness Network ($10 membership fee). But so far the application process has been needlessly complicated.

If you don't qualify for membership by other ways, you can join the Financial Awareness Network for $10. Then when you select your product (CD in my case), the online system tells you you also are required to fund a primary savings account. This is pretty standard for credit unions. But two issues. You already had to pay $10 for FAN membership. Now they have also locked up another $1 for the primary savings. More importantly, there is an additional stipulation that they can charge you if you fall below $5. Feels shady that they tell you that you only have to fund with $1, then come back and say...oh yeah, but we'll charge you.

I proceed with my online application and submit. It's now been a week, and my application is not approved yet. They communicate via online messaging which sends you an email notification that a message is waiting. They needed to confirm my Driver's license and address. Fine--I upload a scan of my DL and a bank statement. Now I have a message saying that they do not accept bank statements. This is asinine, considering that their non-modifiable drop down menu of document types DOES include bank statement as an option to upload.

They ask me to upload a mortgage statement or a utility bill. Bad news NWFCU--I just moved, am renting from a private owner, and all my bills are paid in my rent. The only bill I have is my mobile phone.

I went ahead and sent them my phone bill info. I also tracked down my USPS change of address online and uploaded a PDF of that. If they still give me grief, I'm going to have to give up. It has been over a week with no progress.

I also wasted close to an hour on the phone with them. 45 minutes of which was wait time for two separate calls.

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Health

B+

Data as of Q4 2018

Learn why bank health matters

Health Grade Components

Overall
NCUA #	5500
Year Chartered	1947
Employees	508
Primary Regulator

Profit Margin
Return on Assets - YTD	0.72%
Return on Equity - YTD	7.2%
Annual Interest Income	$140.7MM

Assets and Liabilities
Assets	Q4 2018vs Q4 2017	$3.41B$3.40B
Loans	Q4 2018vs Q4 2017	$2.75B$2.56B
Deposits	Q4 2018vs Q4 2017	$2.80B$2.85B
Equity Capital	Q4 2018vs Q4 2017	$343.8MM$325.0MM
Loan Loss Allowance	Q4 2018vs Q4 2017	$20.6MM$17.8MM
Unbacked Noncurrent Loans	Q4 2018vs Q4 2017	$25.1MM$23.9MM
Real Estate Owned	Q4 2018vs Q4 2017	$432.00K$327.00K

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