NW Preferred Federal Credit Union is headquartered in Portland and is the 25th largest credit union in the state of Oregon. It is also the 1,362nd largest credit union in the nation. It was established in 1940 and as of June of 2023, it had grown to 33 employees and 8,842 members at 2 locations. NW Preferred Federal Credit Union's money market rates are 10X the national average, and it has a B+ health rating.
Field of Membership Restrictions
NW Preferred Federal Credit Union membership is open to the following: 1) anyone who works in or is retired from the licensed insurance industry within the US, DC, or a US Territory; 2) those who live, worship or work in the greater North Santiam community; 3) relatives of current credit union members.
See current membership details
Great Services
Northwest Preferred Federal Credit Union servves Pacific Northwest insurance professionals. They were able to help me when no one else would, with a car loan at a low rate I could afford. They have very little internet presence in terms of what people typically see as required services (account lookup works poorly) but they are very nice at the branch and have always been able to assist me in a satisfactory way. Their rates are second to none, and they are able to look to the individual instead of looking at you like a number. I have had credit issues but again they were there to assist me when no one, even other credit unions, was able to help me. I would highly recommend this bank for any insurance professionals looking for a good credit union.
Excellent Credit Union
This credit union has a couple of locations in the Pacific Northwest. They deal exclusively with insurance professionals, so not everyone can become a member. They offer many products, including home and car loans, unsecured loans, credit cards and other financial products in addition to the standard checking and savings accounts. Their customer service is excellent and they are always there for me. They administer a savings account as well as anyone else would, and their rates are excellent. The nice thing about a credit union is that they make choices based on what's best for their members and not in terms of making as much profit as possible like the big banks. In all my interactions with them, they've always made me feel like I'm important, even though I don't have a massive checking account balance. Overall, if you're eligible to become a member I would absolutely recommend this credit union.
Excellent Credit Union
This credit union was really able to help me out when I had major financial problems. It is only for professionals in the insurance industry in the Pacific Northwest, so it's not available to everyone. However, they did a great job for me, even though I only work for a bank and not an insurance company. I had major debt problems and urgently needed to consolidate some credit cards. My credit score was very bad but they were able to really help me out when virtually no one else would. Now that my situation is improving I will definitely go there first when I need credit products in the future. Their fees are nonexistent and the cost of their products (rates, etc.) are unbelievable in this day and age. Their website is poor. There are only two physical locations and virtually no ATMs, so I don't think I would want to have my checking here, but overall they were really able to help me out.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 3853 |
| Year Chartered | 1940 |
| Employees | 33 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.18% |
| Return on Equity - YTD | 9.34% |
| Annual Interest Income | $4.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $173.3MM$188.2MM |
| Loans | Q2 2023vs Q2 2022 | $136.2MM$124.9MM |
| Deposits | Q2 2023vs Q2 2022 | $149.3MM$167.0MM |
| Equity Capital | Q2 2023vs Q2 2022 | $22.0MM$19.6MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$870.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $845.00K$360.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |