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NORTHWEST FEDERAL CREDIT UNION

Jun, 30, 2024 — NORTHWEST FEDERAL CREDIT UNION is a federal credit union headquartered in HERNDON, VA with 10 branch locations and about $4.18 billion in total assets. Opened 78 years ago in 1947, NORTHWEST FEDERAL CREDIT UNION has about 274,025 members and employs 592 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 256075025
Name:NORTHWEST FEDERAL CREDIT UNION
Address:
(Main Office)
200 Spring St
HERNDON, VA 20170
Phone:(703) 709-8900
Fax:(703) 709-9484
Website:https://www.nwfcu.org
Branches:10 branch locations
Members:274,025
Credit Union Type:Federal Credit Union
Charter Number:5500
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1947
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$4,179,646,287
CEO/Manager:Jeff Bentley
Chairperson:Gerrianne Burks

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 94,681,561
TOTAL INVESTMENTS 0
Loans Held for Sale 1,554,617
 
 Real Estate Loans 1,005,053,647
 Unsecured Loans 139,036,305
 Other Loans 1,677,058,199
 TOTAL LOANS 2,821,432,793
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -8,419,805
 Land And Building 34,294,553
 Other Fixed Assets 15,182,000
 NCUSIF Deposit 29,210,325
 All Other Assets 0
  TOTAL ASSETS 4,179,646,287
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 149,000,000
 Accounts Payable & Other Liabilities 94,614,715
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 785,645,868
 Regular shares 862,506,186
 All Other Shares & Deposits 1,946,979,966
  TOTAL SHARES & DEPOSITS 3,595,132,020
  TOTAL LIABILITIES 3,838,746,735
 Regular Reserve 0
 Other Reserves -116,440,932
 Undivided Earnings 457,340,484
  TOTAL EQUITY 340,899,552
  TOTAL LIABILITIES, SHARES, & EQUITY 4,179,646,287
INCOME & EXPENSE  
 Loan Income 70,994,492
 Investment Income 11,996,500
 Other Income 5,540,822
 Total Employee Compensation & Benefits 56,383,542
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 35,160,733
 Non-operating Income & (Expense) 1,964,880
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -3,791,803
 Cost of Funds 12,323,862
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 22,985,457
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