Northwest Federal Credit Union


Overview / Commentary
703-709-8900
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 85th largest credit union in the nation. It was established in 1947 and as of September of 2024, it had grown to 535 employees and 283,490 members at 12 locations. Northwest Federal Credit Union's CD rates are 5X 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

STALE RATES - 9/23/2024

I checked CD rates today on the site. The leading rates I saw on the 4- and 5-yr were at Northwest FCU. Turns out actual rate is 3.69. Don't know how many others shown are stale, but there must be others.

IRA Rates Shown Not Accurate - 8/7/2024

Shown on DepositAccounts.com: 4.85% 5 Year IRA Certificate 4.80% 4 Year IRA Certificate 4.75% 3 Year IRA Certificate 4.70% 2 Year IRA Certificate Actual from https://www.nwfcu.org/certificates : 5 years 4.60 4 years 4.55 3 years 4.50 2 years 4.45

View all posts from:

10/1/21 - Rewards Checking Rate Drop
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
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?
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 (1)

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!



Health
B+

Health Grade Components

Overall
NCUA #5500
Year Chartered1947
Employees535
Primary Regulator
Profit Margin
Return on Assets - YTD0.57%
Return on Equity - YTD6.44%
Annual Interest Income$153.4MM
Assets and Liabilities
AssetsQ3 2024vs Q3 2023$4.81B$4.55B
LoansQ3 2024vs Q3 2023$2.78B$2.9B
DepositsQ3 2024vs Q3 2023$3.36B$3.41B
Equity CapitalQ3 2024vs Q3 2023$412MM$340.5MM
Loan Loss AllowanceQ3 2024vs Q3 2023$20.9MM$26.2MM
Unbacked Noncurrent LoansQ3 2024vs Q3 2023$13MM$10.2MM
Real Estate OwnedQ3 2024vs Q3 2023$0$0
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
3.00%*$5m*-Premium Business Saver Account
OTHER TIERS: 0.13% $1 - $100k | 1.50% $100k - $5m
2.27%*$1$1.5kYouth Club Share Savings
OTHER TIERS: 0.25% $1.5k+
1.50%*$0$50kRewards Savings
OTHER TIERS: 0.50% $50k+
0.20%$0-Savings IRA
0.05%$1-Share Savings
0.05%$0-Savings Club

Northwest Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.46%*$1m*-Money Market
OTHER TIERS: 0.64% $0 - $25k | 0.72% $25k - $50k | 0.74% $50k - $100k | 0.93% $100k - $250k | 1.41% $250k - $1m

Northwest Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%*$0$25kDividend Rewards Checking account
OTHER TIERS: 0.50% $25k+
0.07%$0-Elite Checking > $1k Monthly Deposits
0.02%$0-Elite Checking < $1k Monthly Deposits

Northwest Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.10%*$100k*-1 Year Share Certificate
OTHER TIERS: 4.00% $1k - $100k
4.10%*$100k*-2 Year Share Certificate
OTHER TIERS: 4.00% $1k - $100k
4.10%*$100k*-3 Year Share Certificate
OTHER TIERS: 4.00% $1k - $100k
4.10%*$100k*-4 Year Share Certificate
OTHER TIERS: 4.00% $1k - $100k
4.10%*$100k*-5 Year Share Certificate
OTHER TIERS: 4.00% $1k - $100k
4.10%*$100k*-10 Month Share Certificate
OTHER TIERS: 4.00% $1k - $100k
4.10%*$100k*-18 Month Share Certificate
OTHER TIERS: 4.00% $1k - $100k
4.10%*$100k*-11 Month Share Certificate
OTHER TIERS: 4.00% $1k - $100k
0.11%$1k-6 Month Share Certificate
0.05%$1k-3 Month Share Certificate

Northwest Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.35%*$100k*-1 Year IRA Certificate
OTHER TIERS: 4.25% $1k - $100k
4.35%*$100k*-2 Year IRA Certificate
OTHER TIERS: 4.25% $1k - $100k
4.35%*$100k*-3 Year IRA Certificate
OTHER TIERS: 4.25% $1k - $100k
4.35%*$100k*-4 Year IRA Certificate
OTHER TIERS: 4.25% $1k - $100k
4.35%*$100k*-5 Year IRA Certificate
OTHER TIERS: 4.25% $1k - $100k
4.35%*$100k*-10 Month IRA Certificate
OTHER TIERS: 4.25% $1k - $100k
4.35%*$100k*-18 Month IRA Certificate
OTHER TIERS: 4.25% $1k - $100k
4.35%*$100k*-11 Month IRA Certificate
OTHER TIERS: 4.25% $1k - $100k
0.11%$1k-6 Month IRA Certificate
0.05%$1k-3 Month IRA Certificate
Locations

Availability

Washington Area

Interactive local rates map


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