Northwest Federal Credit Union

Overview / Commentary
200 Spring St
Herndon, VA 20170

Northwest Federal Credit Union is headquartered in Herndon and is the 5th largest credit union in the state of Virginia. It is also the 87th largest credit union in the nation. It was established in 1947 and as of June of 2023, it had grown to 575 employees and 280,183 members at 12 locations. Northwest Federal Credit Union's CD rates are 4X 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

Related Posts

6% APY On 4-Month “Football” Certificate. $1,000 Minimum Balance. - 9/12/2023

Got an email about this today. SCORE this GREAT RATE on a FOOTBALL Certificate! Earn 6.00% APY* *APY = Annual Percentage Yield. Football 4-month promotional certificate and rate are current as of 9/12/2023 and subject to change. The Football 4-month certificate has a dividend rate of 5.84% and an APY of 6.00%. $1,000 minimum balance required. The APY assumes dividends will remain on deposit until maturity. A penalty may be imposed for early withdrawal. Fees may reduce earnings on account. Promotional certificates are not eligible for a dividend rate bonus. Rates are also available on IRA Certificates. Businesses are eligible to take advantage of this special certificate.

Kasasa Checking Account 3% Up To $100,000 - 6/9/2023

Northwest Federal’s FREE Kasasa Cash® Checking benefits debit card users who want to earn the highest dividend rate we offer on checking accounts: 3.00% APY up to $100,000* 0.25% APY on portion of balance above $100,000* You’ll need a minimum deposit of $100 to open your Kasasa Cash® Checking account. Then, you’ll earn our highest checking account dividend rate and enjoy ATM fee refunds** provided you meet these monthly qualifications: Enroll in eStatements for your monthly account statement instead of paper Complete 12 debit card purchases each qualification cycle Access Online Banking at least once each qualification cycle

NWFCU Raises IRA Certificate Rates - 4/10/2023

5 years 4.85 APY, 4 years 4.80 APY, 3 years 4.75 APY, 2 years 4.70 APY, 1 Year, 4.65 APY

View all posts from:

10/10/20 - They Have Delivered On The Recent Checking Promotion
7/9/20 - $300 Free Checking Bonus, Plus 1.31% On A 14-Month Certificate
11/6/19 - Checking Account With Direct Deposit, $300 Bonus
8/28/19 - Harvest CD - 17 Months @ 2.2%
5/11/19 - Rockville In-Branch Only: 3.15% APY 14 Mo
4/26/19 - New Variable-Rate 3-Year CD, Starting At 3.25%
11/20/18 - Northwest FCU: 15-Month CD, 2.85% APY
10/22/18 - Upto $300 For New Checking Accounts
10/6/18 - NWFCU 7Mo. Heritage Club Members Get 1/4% More
9/28/18 - NWFCU CD Rate Matching :(
9/25/18 - 2.50% 7 Months
9/12/18 - Northwest Federal Credit Union
6/11/18 - Northwest FCU 5-Yr. Appreciation CD Special Seems To Have Ended
5/21/18 - NFCU Offering To Convert 3 Yr Add-On To Current 5 Yr Promo CD
4/20/18 - Northwest FCU Adds 5-Year Appreciation CD
4/20/18 - Northwest FCU Offering Up To 3.45% APY On 5-Year CD
4/20/18 - Northwest FCU: 5-Yr. CD, Up To 3.41% APY
4/6/18 - Northwest FCU Adds Kasasa Cash and Kasasa Saver
4/5/18 - 2% Kasasa Cash Checking At NWFCU (Upto $15K)
3/6/18 - (See Note) NWFCU Leaving Shared Branch Network
7/26/17 - Northwest FCU Raises Longer-Term Rates
7/5/17 - NWFCU 30-Month Celebration Special No Longer Listed
6/2/17 - Northwest FCU Ups Rates On 1- And 2-Year Share Certificates
5/9/17 - Celebration Certificate Is Still Around - 30 Months - 2.02% APY
4/19/17 - Celebrate With NorthWest FCU's 30-Month Certificate
4/19/17 - Celebration Certificate - 30 Month - 2.02% APY
12/28/16 - Northwest FCU's 1-Year CD Has Potential 0.25% Rate Bump
6/14/16 - Northwest FCU Offers Bonus Rate On Share Certificates
6/11/16 - 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

Impressive Speed And Personalized Service!

I needed to move a good chunk of IRA money somewhere new and I saw that NWFCU had an attractive rate for a 5-year term.

I don't live in the northern Virginia/D.C. area, but saw that one can qualify for new membership by joining certain charitable organizations--there's a whole list. The first time I applied, I got a rejection notice. Then I realized my error. I thought joining the org would be part of the sign-up process, but they are separate matters and entities. So I joined one of the orgs for a small fee, then resubmitted my request.

Amanda from the CU new members department contacted me directly, in a very welcoming manner, and helped me complete the new member enrollment. Everyone has to open a share savings account to get started. Then she referred me to Felipe in the IRA department to handle the transfer.

IRA transfers are often cumbersome. The institution sending the funds often has specific requirements. I completed NWFCU's forms after downloading them from their easy to use Forms page, filled them out, and emailed them to the provided address. Then Felipe signed them and faxed them to my existing bank. After a few days, that bank kicked it back, telling me my forms must have a "wet" (handwritten) signature. Ugh. So I filled out the form anew, signed it, scanned it, and sent it to Felipe again. Without hesitation, and with great speed, he signed it again and faxed it to them again.

A few days later, after the other bank released the funds as a check, I emailed Felipe to ask whether it had shown up yet. Today, he confirmed he received it, and he PROMPTLY and ACCURATELY opened the certificate for me at Northwest.

Really a great experience all the way!

Best Credit Union Ever !!

Posted by: |

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


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.

NO Customer Service At ALL

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.



Health Grade Components

NCUA #5500
Year Chartered1947
Primary Regulator
Profit Margin
Return on Assets - YTD0.66%
Return on Equity - YTD9.06%
Annual Interest Income$83.7MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$4.60B$4.22B
LoansQ2 2023vs Q2 2022$2.89B$2.69B
DepositsQ2 2023vs Q2 2022$3.45B$3.63B
Equity CapitalQ2 2023vs Q2 2022$345.2MM$369.2MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$8.8MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$7.6MM$6.8MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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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 cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Northwest Federal Credit Union Savings Account Rates

4.00%*$5m*-Premium Business Saver Account
OTHER TIERS: 0.13% $1 - $100k | 2.50% $100k - $5m
2.27%*$1$1.5kYouth Club Share Savings
OTHER TIERS: 0.25% $1.5k+
0.50%*-$25kKasasa Saver
OTHER TIERS: 0.25% $25k+
0.20%--Savings IRA
0.05%$1-Share Savings
0.05%$1-Savings Club

Northwest Federal Credit Union Money Market Rates

1.46%*$1m*-Money Market
OTHER TIERS: 0.64% Up to $25k | 0.72% $25k - $50k | 0.74% $50k - $100k | 0.93% $100k - $250k | 1.41% $250k - $1m

Northwest Federal Credit Union Checking Account Rates

3.00%*-$100kKasasa Cash
OTHER TIERS: 0.25% $100k+
0.07%--Elite Checking > $1k Monthly Deposits
0.02%--Elite Checking < $1k Monthly Deposits

Northwest Federal Credit Union CD Rates

4.40%$1k-2 Year Share Certificate
4.26%$1k-18 Month Share Certificate
4.00%$1k-1 Year Share Certificate
4.00%$1k-5 Year Share Certificate
4.00%$1k-10 Month Share Certificate
3.90%$1k-3 Year Share Certificate
3.80%$1k-4 Year Share Certificate
0.11%$1k-6 Month Share Certificate
0.05%$1k-3 Month Share Certificate

Northwest Federal Credit Union IRA Rates

4.85%$1k-5 Year IRA Certificate
4.80%$1k-4 Year IRA Certificate
4.75%$1k-3 Year IRA Certificate
4.70%$1k-2 Year IRA Certificate
4.65%$1k-1 Year IRA Certificate
4.26%$1k-18 Month IRA Certificate
4.00%$1k-10 Month IRA Certificate
0.11%$1k-6 Month IRA Certificate
0.05%$1k-3 Month IRA Certificate


Washington Area

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