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

There is a $200 bonus, but likely won’t post about it as this $400 bonus seems frequent. Similarly there is a $500 bonus now that I doubt we will post about as the savings requirement is significant.

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:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times

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.