2. Northwest Federal Credit Union

Northwest Federal Credit Union


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 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 June of 2019, it had grown to 530 employees and 269,774 members at 9 locations. Northwest Federal Credit Union's money market 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

Related Posts

Harvest CD - 17 Months @ 2.2% - 8/28/2019

https://www.nwfcu.org/banking/checking-savings/certificates

Rockville In-Branch Only: 3.15% APY 14 Mo - 5/11/2019

I just received a flyer/postcard mentioning this. I took the flyer/postacard thing to the branch, but after opening, they told me I could keep the postcard thing... It's called the inspire certificate. YMMV

New Variable-Rate 3-Year CD, Starting At 3.25% - 4/26/2019

Received en email today from Northwest Federal Credit Union where I've had accounts for years. It's a variable rate CD. Not sure if limited to existing members. This CU had a good 3% , 3-year CD that ended last Fall - not much since then. From the email - "For a limited time only, you can earn up to 3.25% APY* for 36 months. Open an Opportunity Certificate today: Login to your account Stop by a branch Call us at 703-709-8900 APY = Annual Percentage Yield. Fees may reduce earnings on the account. A penalty may be imposed for early withdrawal. This is a variable rate certificate. Initial rate is current as of 04/26/2019 and subject to change quarterly based on Wall Street Journal Prime minus 2.25%. The APY will have a floor of 2.78%.The 3 year variable rate certificate is not eligible for IRA, ESA, Roth, SEP, Add-on Certificates or dividend rate bonus. At renewal, certificate will auto-renew into current 1 year fixed rate certificate unless otherwise designated. Minimum deposit of $1

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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

Reviews (17)

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 !!

4

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

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.

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.

5
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Health
B+

Data as of Q2 2019

Learn why bank health matters

Health Grade Components

Overall
NCUA #5500
Year Chartered1947
Employees530
Primary Regulator
Profit Margin
Return on Assets - YTD0.62%
Return on Equity - YTD5.85%
Annual Interest Income$69.7MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$3.38B$3.42B
LoansQ2 2019vs Q2 2018$2.73B$2.73B
DepositsQ2 2019vs Q2 2018$2.81B$2.91B
Equity CapitalQ2 2019vs Q2 2018$362.2MM$330.4MM
Loan Loss AllowanceQ2 2019vs Q2 2018$19.4MM$22.5MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$15.6MM$18.9MM
Real Estate OwnedQ2 2019vs Q2 2018$195.00K$103.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Harvest CD - 17 Months @ 2.2%

interested   |  
https://www.nwfcu.org/banking/checking-savings/certificates
2

Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.27%*$1$1.5kYouth Club Share Savings
OTHER TIERS: 0.25% → $1.5k+
0.75%*-$50kKasasa Saver
OTHER TIERS: 0.25% → $50k+
0.55%--Savings IRA
0.05%$1-Share Savings
0.05%$1-Savings Club

Northwest Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.11%*$250k*-Money Market
OTHER TIERS: 0.05% → Up to $2.5k | 0.15% → $2.5k - $25k | 0.45% → $25k - $50k | 0.50% → $50k - $100k | 1.06% → $100k - $250k

Northwest Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*-$25kKasasa Cash
OTHER TIERS: 0.25% → $25k+
0.15%--Elite Checking > $1k Monthly Deposits
0.05%--Elite Checking < $1k Monthly Deposits

Northwest Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.36%*$250k*-5 Year Share Certificate
OTHER TIERS: 2.25% → $1k - $100k | 2.30% → $100k - $250k
2.36%*$250k*-Business 5 Year Share Certificate
OTHER TIERS: 2.25% → $1k - $100k | 2.30% → $100k - $250k
1.97%*$250k*-4 Year Share Certificate
OTHER TIERS: 1.87% → $1k - $100k | 1.92% → $100k - $250k
1.97%*$250k*-Business 4 Year Share Certificate
OTHER TIERS: 1.87% → $1k - $100k | 1.92% → $100k - $250k
1.95%*$250k*-1 Year Share Certificate
OTHER TIERS: 1.85% → $1k - $100k | 1.90% → $100k - $250k
1.95%*$250k*-Business 1 Year Share Certificate
OTHER TIERS: 1.85% → $1k - $100k | 1.90% → $100k - $250k
1.87%*$250k*-3 Year Share Certificate
OTHER TIERS: 1.77% → $1k - $100k | 1.82% → $100k - $250k
1.87%*$250k*-Business 3 Year Share Certificate
OTHER TIERS: 1.77% → $1k - $100k | 1.82% → $100k - $250k
1.83%*$250k*-2 Year Share Certificate
OTHER TIERS: 1.71% → $1k - $100k | 1.77% → $100k - $250k
1.83%*$250k*-Business 2 Year Share Certificate
OTHER TIERS: 1.71% → $1k - $100k | 1.77% → $100k - $250k
0.95%$500-2 Year Add-On Certificate
0.95%$500-Business 2 Year Add-On Certificate
0.90%*$250k*-6 Month Share Certificate
OTHER TIERS: 0.80% → $1k - $100k | 0.85% → $100k - $250k
0.90%*$250k*-Business 6 Month Share Certificate
OTHER TIERS: 0.80% → $1k - $100k | 0.85% → $100k - $250k
0.65%*$250k*-3 Month Share Certificate
OTHER TIERS: 0.55% → $1k - $100k | 0.60% → $100k - $250k
0.65%*$250k*-Business 3 Month Share Certificate
OTHER TIERS: 0.55% → $1k - $100k | 0.60% → $100k - $250k
0.60%$500-1 Year Add-On Certificate
0.60%$500-Business 1 Year Add-On Certificate
0.55%$100-1 Year Youth Add-On Certificate

Northwest Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.36%*$250k*-5 Year IRA Certificate
OTHER TIERS: 2.25% → $1k - $100k | 2.30% → $100k - $250k
1.97%*$250k*-4 Year IRA Certificate
OTHER TIERS: 1.87% → $1k - $100k | 1.92% → $100k - $250k
1.95%*$250k*-1 Year IRA Certificate
OTHER TIERS: 1.85% → $1k - $100k | 1.90% → $100k - $250k
1.87%*$250k*-3 Year IRA Certificate
OTHER TIERS: 1.77% → $1k - $100k | 1.82% → $100k - $250k
1.83%*$250k*-2 Year IRA Certificate
OTHER TIERS: 1.71% → $1k - $100k | 1.77% → $100k - $250k
0.95%$500-2 Year Add-On IRA Certificate
0.90%*$250k*-6 Month IRA Certificate
OTHER TIERS: 0.80% → $1k - $100k | 0.85% → $100k - $250k
0.65%*$250k*-3 Month IRA Certificate
OTHER TIERS: 0.55% → $1k - $100k | 0.60% → $100k - $250k
0.60%$500-1 Year Add-On IRA Certificate
0.55%$100-1 Year Youth Add-On IRA Certificate
Locations


Northwest Federal Credit Union Locations
Branch Office9730 Liberia AveManassas, VA 20110
Branch Office231 Maple Ave EVienna, VA 22180
Branch Office200 Spring StHerndon, VA 20170
Branch Office14419 Chantilly Crossing LnChantilly, VA 20151-2116
Branch Office525 Trimble Plz SELeesburg, VA 20175-5437
Branch Office7500 Webb DrGainesville, VA 20155
Corporate Office200 Spring StHerndon, VA 20170
Branch Office1807 Rockville PikeRockville, MD 20852
Branch Office101 W Washington StMiddleburg, VA 20117

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.