Northwest Federal Credit Union is headquartered in Herndon and is the 4th largest credit union in the state of Virginia. It is also the 66th largest credit union in the nation. It was established in 1947 and as of December of 2019, it had grown to 576 employees and 239,442 members at 9 locations. Northwest Federal Credit Union's money market rates are 2X the national average, and it has an A 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
8/28 - Harvest CD - 17 Months @ 2.2%
5/11 - Rockville In-Branch Only: 3.15% APY 14 Mo
4/26 - New Variable-Rate 3-Year CD, Starting At 3.25%
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
7/5 - 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
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
Best Credit Union Ever !!
They called me many times to make sure I was HAPPY after I opened my account. !! Yes It's True !!
One Despositaccounts.Com Experience
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
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.
Horrible Service
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.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 5500 |
| Year Chartered | 1947 |
| Employees | 576 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.59% |
| Return on Equity - YTD | 5.34% |
| Annual Interest Income | $142.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $3.60B$3.41B |
| Loans | Q4 2019vs Q4 2018 | $2.91B$2.75B |
| Deposits | Q4 2019vs Q4 2018 | $2.99B$2.80B |
| Equity Capital | Q4 2019vs Q4 2018 | $398.8MM$343.8MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $20.0MM$20.6MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $20.0MM$25.1MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $0$432.00K |