Northwest Federal Credit Union is headquartered in Herndon and is the 5th largest credit union in the state of Virginia. It is also the 87th largest credit union in the nation. It was established in 1947 and as of June of 2023, it had grown to 575 employees and 280,183 members at 12 locations. Northwest Federal Credit Union's CD rates are 6X 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
6/9 - Kasasa Checking Account 3% Up To $100,000
4/10 - NWFCU Raises IRA Certificate Rates
1/9 - 7 - Month Certificate - 4%
10/4 - 27 Month CD @ 3.62% At NWFCU
4/29 - 18-Month Diamond Certificate - 1.75% APY
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
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
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!
Best Credit Union Ever !!
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.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 5500 |
| Year Chartered | 1947 |
| Employees | 575 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.66% |
| Return on Equity - YTD | 9.06% |
| Annual Interest Income | $83.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $4.60B$4.22B |
| Loans | Q2 2023vs Q2 2022 | $2.89B$2.69B |
| Deposits | Q2 2023vs Q2 2022 | $3.45B$3.63B |
| Equity Capital | Q2 2023vs Q2 2022 | $345.2MM$369.2MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$8.8MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $7.6MM$6.8MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
