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 4th largest credit union in the state of Virginia. It is also the 73rd largest credit union in the nation. It was established in 1947 and as of June of 2021, it had grown to 562 employees and 245,920 members at 11 locations. Northwest Federal Credit Union 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

Rewards Checking Rate Drop - 10/1/2021

Now .697% as of Oct 1

View all posts from:

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

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 !!

NWFCU Add-On CD

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.

Great Credit Union with Great Ammenities!

North West Federal Credit Union is the best banking institution or credit union that I have ever dealt with. They are very knowledgeable about their products and offerings and I always feel welcome when I go. I get the best interest on my student savings account and the best of all is that it compounds daily! At my other bank I do not receive the attention I get like here. One thing I would say for them to do better on is their online customer service. Once I ordered a new card for my checking account and did not receive it for over two months. That is just unacceptable! I really like their checking also because they do not charge me for overdraft fees. Another thing I would like to see is if they had more branches so I would be able to access them more often. Overall, I have been extremely satisfied with their savings and checking accounts that I have open at the credit union, and I plan to do more business with them in the future.

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Health

Health Grade Components

Overall
NCUA #5500
Year Chartered1947
Employees562
Primary Regulator
Profit Margin
Return on Assets - YTD0.44%
Return on Equity - YTD4.34%
Annual Interest Income$55.1MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$4.39B$4.01B
LoansQ2 2021vs Q2 2020$2.19B$3.12B
DepositsQ2 2021vs Q2 2020$3.56B$3.23B
Equity CapitalQ2 2021vs Q2 2020$439.6MM$411.7MM
Loan Loss AllowanceQ2 2021vs Q2 2020$14.2MM$20.1MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$11.2MM$15.3MM
Real Estate OwnedQ2 2021vs Q2 2020$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
2.27%*$1$1.5kYouth Club Share Savings
OTHER TIERS: 0.25% $1.5k+
0.50%*-$25kKasasa Saver
OTHER TIERS: 0.25% $25k+
0.25%*$5m*-Premium Business Saver Account
OTHER TIERS: 0.01% $1 - $100k | 0.22% $100k - $5m
0.20%--Savings IRA
0.05%$1-Share Savings
0.05%$1-Savings Club

Northwest Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.46%*$1m*-Money Market
OTHER TIERS: 0.03% Up to $25k | 0.14% $25k - $50k | 0.16% $50k - $100k | 0.33% $100k - $250k | 0.38% $250k - $1m

Northwest Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*-$50kKasasa Cash
OTHER TIERS: 0.25% $50k+
0.07%--Elite Checking > $1k Monthly Deposits
0.02%--Elite Checking < $1k Monthly Deposits

Northwest Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.52%*$250k*-5 Year Share Certificate
OTHER TIERS: 0.42% $1k - $100k | 0.47% $100k - $250k
0.47%*$250k*-4 Year Share Certificate
OTHER TIERS: 0.38% $1k - $100k | 0.42% $100k - $250k
0.42%*$250k*-3 Year Share Certificate
OTHER TIERS: 0.34% $1k - $100k | 0.37% $100k - $250k
0.38%*$250k*-2 Year Share Certificate
OTHER TIERS: 0.30% $1k - $100k | 0.33% $100k - $250k
0.35%*$250k*-1 Year Share Certificate
OTHER TIERS: 0.25% $1k - $100k | 0.30% $100k - $250k
0.18%$500-2 Year Add-On Certificate
0.16%*$100k*-6 Month Share Certificate
OTHER TIERS: 0.11% $1k - $100k
0.15%$500-1 Year Add-On Certificate
0.10%$100-1 Year Youth Add-On Certificate
0.10%*$100k*-3 Month Share Certificate
OTHER TIERS: 0.05% $1k - $100k

Northwest Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.52%*$250k*-5 Year IRA Certificate
OTHER TIERS: 0.42% $1k - $100k | 0.47% $100k - $250k
0.47%*$250k*-4 Year IRA Certificate
OTHER TIERS: 0.38% $1k - $100k | 0.42% $100k - $250k
0.42%*$250k*-3 Year IRA Certificate
OTHER TIERS: 0.34% $1k - $100k | 0.37% $100k - $250k
0.38%*$250k*-2 Year IRA Certificate
OTHER TIERS: 0.30% $1k - $100k | 0.33% $100k - $250k
0.35%*$250k*-1 Year IRA Certificate
OTHER TIERS: 0.25% $1k - $100k | 0.30% $100k - $250k
0.18%$500-2 Year Add-On IRA Certificate
0.16%*$100k*-6 Month IRA Certificate
OTHER TIERS: 0.11% $1k - $100k
0.15%$500-1 Year Add-On IRA Certificate
0.10%*$100k*-3 Month IRA Certificate
OTHER TIERS: 0.05% $1k - $100k
0.10%$100-1 Year Youth Add-On IRA Certificate
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