Northwest Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
2.22%	5-year CD	5 Year Share Certificate 1.85% - Synchrony Bank 60 Month CD
1.51%	3-year CD	3 Year Share Certificate 1.55% - Ally Bank High Yield 3 Year CD
1.31%	2-year CD	2 Year Share Certificate 1.30% - Ally Bank Raise Your Rate 2-Year CD

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 55^th largest credit union in the nation. It was established in 1947 and as of June of 2016, it had grown to 425 employees and 212,635 members at 8 locations. Northwest Federal Credit Union's CD rates are 29% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Northwest Federal Credit Union is open to anyone through joining the Financial Awareness Network ($10 membership fee) or 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

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
3/28/12 - Banks That Give Certainty About CD Early Withdrawals
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
7/8/10 - What Happened to the Add-On Certificates of Deposit?
4/26/10 - Review and Survey of Flexible CDs
12/20/09 - Competitive 2- and 5-Year CDs at Northwest FCU - Available Nationwide
11/20/09 - 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
2/11/09 - 4.88% 5-Year CD and Other High CD Rates at Northwest FCU in Virginia - Easy Membership
2/4/09 - 3.75% 2-Year Add-On CD at Northwest FCU in Virginia - Easy Membership
6/29/08 - 5.15% 60-Month / 4.40% 24-Month CD at a Virginia CU (Northwest).
4/29/08 - 4.00% 24-Month CD at a Virginia CU - Plus $100 Checking Bonus (Northwest)
4/2/08 - 5.30% 60-Month / 4.96% 36-Month CD at a Virginia CU (Northwest).
2/26/08 - 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
11/13/07 - Update on Northwest FCU and its 6.00% 18-Month CD
11/7/07 - 6.00% 18-Month CD at a Virginia CU (Northwest)

Reviews (12)

Featured Account Options

Great Service!

Posted by: jimddavis | Oct 13, 2015

This credit union has given me great service and the reps are friendly and knowledgeable. They have better rates than most.

Reply

2

Wonderful Credit Union

Posted by: EmmeW14 | Jul 19, 2014

Northwest Federal Credit Union is the best credit union that I have ever worked with! I have been a member there for less than a year, however in comparison to a credit union that I have been a member of for over 20 years, their services and customer service are far superior to any other credit union I have encountered. Everyone there is extremely friendly, there is a customer service line that is available 24/7, they are very interactive with their customers, and I am looking forward to doing many more years of business with them. I can not give this credit union enough stars, they go above and beyond the call of duty in everything that I have experienced, I'm so glad I found them and recommend them to everyone I know.

Reply

3

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.

4

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.

4

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Health

A

Data as of Q2 2016

Learn more about bank health

Health Grade Components

Overall
NCUA #	5500
Year Chartered	1947
Employees	425
Primary Regulator

Profit Margin
Return on Assets - YTD	0.46%
Return on Equity - YTD	4.69%
Annual Interest Income	$49.6MM

Assets and Liabilities
Assets	Q2 2016vs Q2 2015	$3.04B$2.81B
Loans	Q2 2016vs Q2 2015	$1.83B$1.72B
Deposits	Q2 2016vs Q2 2015	$2.57B$2.32B
Equity Capital	Q2 2016vs Q2 2015	$299.0MM$274.9MM
Loan Loss Allowance	Q2 2016vs Q2 2015	$19.4MM$15.1MM
Unbacked Noncurrent Loans	Q2 2016vs Q2 2015	$9.8MM$8.3MM
Real Estate Owned	Q2 2016vs Q2 2015	$132.00K$94.00K

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