Published on October 21st, 2018 | by William Charles

[Expired] [VA & In Branch only] Northwest Federal Credit Union $300 Checking Bonus

Deal has expired, view the best current checking bonuses by clicking here.

Update 10/20/18: Reposting as it’s confirmed to be a soft pull.

Offer at a glance

Maximum bonus amount: $300
Availability: In branch only, all branches are in VA
Direct deposit required: Yes, at least three direct deposits of $250+ each
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown
Credit card funding: Up to $520
Monthly fees: None
Early account termination fee: None
Household limit: None listed
Expiration date: December 31st, 2018

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer

Northwest Federal Credit Union is offering a bonus of $300 when you open a new checking account in branch and complete the following requirements:
- Use promo code Checking2018 (keep in mind this offer is in branch only, so I assume you just tell the banker that promo code)
- Make a minimum of three direct deposits into the checking account with a minimum of $250 per direct deposit
- Sign up for eStatements
- Login to online banking a least once

The Fine Print

In-branch only limited time offer available 10/1/18 – 12/31/18. To earn $300 deposit into your checking account in the first 90 days after account opening you must: Open first-ever consumer checking account with Northwest Federal in one of our branch locations, be 18 years of age or older, be in good standing, make a minimum of three direct deposits into the checking account with a minimum of $250 each deposit, sign up for e-Statements, and login to Online Banking at least once.
Once all requirements are met and your checking account has been opened for 90 days, you will receive your deposit within 5 days.
Cannot be combined with other offers.
Use promo code Checking2018.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Choice checking has no monthly fees to worry about.

Early Account Termination Fee

There is no mention of an early account termination fee in the fee schedule.

Our Verdict

Nice big bonus, now that we know it’s a soft pull to open the account we will be adding this to our list of the best checking bonuses. If anybody goes for this bonus, share your experiences in the comments below.

Useful posts regarding bank bonuses:

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Mr G

Darn, all branches are up in Northern Virginia.

IS250

From the website, looks like you’ll need to pay a membership fee of $10 to a select list of organizations or at least know someone who is a member and use their reference number. You’ll also need to open up a savings account for $1.

tuphat

Link to membership eligibility page, with further link to other employers and community organizations (which you can join or volunteer time): https://www.nwfcu.org/membership.

Factoid: This CU was originally limited to government employees working in the intelligence community. Note how CIA is still referred to simply as “the Agency” on the employer membership page, in keeping with tradition of avoiding using it’s actual name.

Svy

tuphat Thanks for the factoid! Really interesting to scroll thru the employers, e.g. NGA employees @ Building 213, which longer exists, Dave Major &Associates, Harding Security Associates, and more recent creations, like NCTC/ODNI….

Yet Another Redditor

William Charles The page https://www.nwfcu.org/greatchecking says you can apply online or via phone too. From the looks of it, you can apply for membership and open the savings account online/by phone. Then use the online account to “Apply online” for the checking account and bonus.

I am in the area so will call them and check if there is a HP involved. If not, will do the checking (and mandatory savings?) accounts

William Charles

Sounds good, report back

Drew

The fine print says you have to sign up in a branch in order to get the bonus.

“To earn $300 deposit into your checking account in the first 90 days after account opening you must: Open first-ever consumer checking account with Northwest Federal in one of our branch locations”

Gadget

Every credit union that I’ve seen wants you to open a share savings, and must maintain your $1 or $5. That is what makes you a member. When you close it, you’re no longer a member.

I joined today at the Vienna branch. Rep was not terribly familiar with the promo – but they have literature all over the tables promoting it. I joined a Reston artists org on the spot for $10. Looking forward to an easy bonus. No HP yet. Entertaining (negative) comments about the latest IOS app in the App Store.

IS250

Any mention of an ETF?

No; no fees for the account either. Free/no interest accounts can be upgraded to their 2% checking accounts, the rep said.

Kira

Do you mean you joined the Reston artists org when applying for the account at the Vienna branch?

Yes.

Tom

Do you need to be a resident of VA to get the bonus? I live in DC and work in Tyson’s Corner. Was planning on joining at the Vienna branch later this week.

Roger

Opened the account succ in Vienna,Va. Rep said Rockville,MD branch is opening Nov 15 . No details if that branch has any bonus.

Roger

He also mentioned that that there was 0 ETF fee .

IS250

Just signed up in branch. More details:
1) Free instant issue debit card (Mastercard)
2) Free starter checks and 1st box of checks
3) No ETF
4) You can’t fully decline overdraft services. They automatically include overdraft service that draws from your savings account.
5) $10 membership fee to a list of organizations you can choose from
6) No confirmation or printout of the bonus being attached to your account
7) They had postcards/printout of the bonus offer so I took one just in case there’s an issue later on.
8) No hard pull and don’t even think they soft pull from any of the bureaus. I say this because I used an out of state license with a local VA address. She entered my VA address, not my out of state address which is tied to my credit reports. Usually if my VA address was used for credit inquiries, it would decline. But that didn’t happen.

IS250

Just to add, once you create an online account, there is an option to decline overdraft services under “Member protection plan.” So don’t forget to do so.

Rob

Looks like this CU has a Now Rewards Credit Card with no annual fee and a sign up bonus through the end of 2018 of 30,000 points which equals $300 with a $3,000 min spend. Definitely not the best bonus, but maybe useful to some. https://www.nwfcu.org/NOWREWARDS

Mark

I went to the Herndon branch yesterday there were at least 30 customers in there so be prepared for a long wait

Gadget

I actually hold an account with this CU, and they are pretty decent. Signed up online, in 2012 I think, for a checking bonus, but that promo allowed online signups. I am tempted to have SO sign up and use the promo code online… because we don’t have a branch nearby and online might work, even if it’s supposed to be branch only. Worst case she gets a free checking with a good ACH capability.

I have had as many as 40 external accounts linked on my account, change them out frequently, and they haven’t complained. The only time I got any pushback was for the Brinks Netspend, but all the other netspend/insight cards have worked fine. I believe it’s a $30K rolling limit, and 10K per day? It’s enough to where I rarely max it out. But I never rely on the one flavor of ACH to trigger another bank bonus, so I never have exact DD DP’s.

I also like that they are part of the shared branching, and ATM co-op, so I can use the CU tellers that are literally across the street from my neighborhood to cash checks/access the account, without being a member of the local CU.

Ken

I successfully signed up yesterday at a branch in Herndon. The digital application has the promo-code field, but it’s blank and does not allow inputs. Rep said that’s fine. I’ll get the bonus as long as my sign up date is within the promo period and all requirements are met.

Sparky

Went in today with the wife and both signed up in two-player mode. There was no line in the morning. Get there before 11 am according to the rep. Made a $10 donation to the Potomac Appalachian Trail Club (Get free use of mountaineering gear with the PATC-mountaineering section). ATM usage is free at most 7-11s. Wife didn’t need to pay anything since they used me as the referrer.

Humberto de Richmond

I sign up online for the savings. The rep on the phone recommended it. It will be a lot easier once at the branch to add the checking acc.

Humberto de Richmond

I used kickfurther as my direct deposit. It worked

SaRa

Does anyone know which method counts as Direct Deposit for this bank/ promotion?

Kat

Would like to know as well as there is no data points currently listed on the handy DOC link. Anyone?

IS250

10/20 – Opened in branch
11/15 – 250 Real DD coded simply as “My Employer Name”
11/30 – 250 Real DD
12/15 – 250 Real DD
1/18/19 – 300 Bonus: DEPOSIT CHECKING 2018

Avi

Thanks for the DP! Looks like this will be worth doing if it comes around again.

IS250

I honestly believe fake DD’s would count as well. But since there were no DP’s, I used a real DD to be safe since this was a pretty big bonus.

Dimitry

So now that the bonus has been posted, what are you going to do? Close all accounts, or leave the savings open – to keep CU membership, and to potentially receive targeted offers?

IS250

If you’re replying to me, I closed all my accounts.

[Expired] [VA & In Branch only] Northwest Federal Credit Union $300 Checking Bonus

The Offer

The Fine Print