[Expired][VA & MD] Northwest Federal Credit Union $400 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 12/5/23: No end date listed anymore.

Update 11/23/23: Deal is back and valid until 11/30/23.

Update 6/24/20: Deal is back and valid until July 15th, 2020. Hat tip to Econ0mist

Offer at a glance

  • Maximum bonus amount: $400
  • Availability: VA, MD
  • Direct deposit required: Yes, at least three direct deposits of $500+ each
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: Up to $520
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: December 31st, 2019 July 15th, 2020

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:
    • Make a minimum deposit of at least $50* in ACH or direct deposits per month for three months

 

The Fine Print

  • Limited time offer available 11/1/2023 – 11/30/2023.
  • To earn a $400 deposit into your checking account during the first 90 days after opening your first ever consumer checking account with Northwest Federal, you must: be 18 years of age or older, be in good standing, and make a minimum of $500 in direct deposits or ACH deposits into the checking account each month for three months. If all requirements are met and once your checking account has been open for 90 days, you will receive your deposit into the checking account within 30 days. Cannot be combined with other offers. APY = Annual Percentage Yield. Elite Checking has an APY of .07% if $1,000 or more is deposited each month, and Kasasa Cash® Checking has an APY ranging from 4.00%-1.38% depending on the account balance (assumed balance of $100,000 used for example). Kasasa Cash® Checking requires $100 minimum deposit to open and qualifications must be met to earn dividends. Choice Checking and Kasasa Cash Back® Checking also eligible for bonus. Fees may reduce earnings on accounts. Rate may change after the account is opened. Member responsible for possible tax implications. Rates current as of 10/31/2023 and are subject to change without notice.

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:

Post history:

  • Update 2: No longer in branch only, might be available to people outside of VA & MD but YMMV.
  • Update 11/9/19: Bonus is back and valid until December 31st, 2019
  • Update 10/20/18: Reposting as it’s confirmed to be a soft pull.
    William Charles
  • On November 23, 2023, 19:15
Tags: credit card fundingdirect deposit requiredmd bank bonusessoft pullva bank bonuses

View Comments (984)

  • DP - Bonus-earning and account-closing data points:
    - 12/28/2023 - Accounts (Choice Checking and Primary Savings) opened online.
    - 01/17/2024 - $501 transferred in to checking account from TreasuryDirect ("MISC PAY").
    - 01/18/2024 - $501 transferred in to checking account from Wells Fargo ("DDA TO DDA").
    - 02/15/2024 - $502 transferred in to checking account from TreasuryDirect ("MISC PAY").
    - 02/16/2024 - $502 transferred in to checking account from Wells Fargo ("DDA TO DDA").
    - 03/13/2024 - $503 transferred in to checking account from TreasuryDirect ("MISC PAY").
    - 03/14/2024 - $503 transferred in to checking account from Wells Fargo ("DDA TO DDA").
    - 04/23/2024 - $504 transferred in to checking account from TreasuryDirect ("MISC PAY").
    - 04/24/2024 - $504 transferred in to checking account from Wells Fargo ("DDA TO DDA").
    - 04/25/2024 - $400 bonus deposited into checking account.
    - 12/23/2024 - Balance transferred out of account(s).
    - 12/30/2024 - Accounts closed (via phone).

  • 12/2 Acct approved (received Welcome email)
    1/22 $500 push
    2/8 $500 push
    3/1 $500 push

    I thought I screwed this up so bad because I missed the month of December. I had gotten this promo confused with another one.
    When I realized it, I called a csr and she explained that I probably wasn't going to get it. I asked if it was per calendar month or per 30 day period, and she said calendar month, and that I needed to have started in December.
    I thought about it a bit, and calculater that 3/1 would be 90 days from account opening, and that would give me Jan, Feb & Mar to do the 3 deposits. So I took a shot at it, and I waited...
    By May, I had basically given up because I thought the bonus was to be paid out within 30 days after the 90 day period.
    Then BOOM!
    6/4 New Checking Promotion $400
    I was sooo relieved :)
    Closing account within the next few days.

  • 02/02 Opened acc
    02/04 Discover Savings Push $510
    03/04 Discover Savings Push $510
    04/01 Discover Savings Push $510
    Msged CS about bonus
    06/04 New checking promotion $400

  • 2/07 Opened
    2/14 Fidelity push $505
    3/15 Fidelity push $505
    4/15 Fidelity push $505
    5/31 Bonus posted $400 New Checking Promotion

  • Bonus posted today for those opened end of Jan/early Feb. They post on Friday's (after noon i guess as i did not see it at 11am) after 120 days per rep.

  • Did anyone else receive a "member loyalty dividend" that posted to their savings account on 5/22? I got one for $50. Surpised that I got it as I haven't been using my accounts much lately (I became a member in 2020) but I'll take it!

    • Been a member for about 10 years. I usually keep $500-$200 in there, with a Checking and Savings account. No bonus.

      Not sure what loyalty hoop you triggered but it's good for you. @guest_1851780

      • "Been a member for about 10 years."
        
        Guess they always have anti churn language?

    • I also opened my account in 2020. Just checked my account, nothing! ☹

    • Yes. P1 $200 and P2 $150 “member loyalty dividend” deposited to savings. It is indeed an unexpected surprise! Not sure why the difference besides P1 have a bit more debit usage.

  • 1/11 - Account Opened
    1/16 - $501 ACH Transfer from American Express Savings
    2/20 - $501 ACH Transfer from American Express Savings
    3/25 - $501 ACH Transfer from American Express Savings
    4/25 - $400 Bonus Posted "New Checking Promotion"

  • Folks, check your account. It looks like they recently added the bonus for those who signed up / started ACHing in January. Yay.

    • Thanks for the prompt! Just checked and I got paid today as well. Opened on January 12 and pushed $510 from Chase every month.

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