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How Northwest Community Credit Union bank accounts compare
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On Northwest Community Credit Union’s website
Learn more
On Northwest Community Credit Union’s website
Learn more
On Northwest Community Credit Union’s website
Overall credit union rating
Pros and cons
Annual Percentage Yield (APY)
0.00% to 0.05%
Minimum Deposit Amount
$10
Annual Percentage Yield (APY)
0.00% to 0.05%
Minimum Deposit Amount
$10
On Northwest Community Credit Union’s website
Details
Annual Percentage Yield (APY)
0.00% to 0.05%
Minimum Deposit Amount
$10
Pros & Cons
Highlights
To become a member of Northwest Community Credit Union, you’ll have to open Northwest Community Credit Union Regular Savings. This savings account might be a decent option if you’d prefer to avoid monthly service fees. However, you’ll only earn 0.05% APY if you maintain $100 or more in your account.
Annual Percentage Yield (APY)
0.00% to 0.25%
Minimum Deposit Amount
$40
Annual Percentage Yield (APY)
0.00% to 0.25%
Minimum Deposit Amount
$40
On Northwest Community Credit Union’s website
Details
Annual Percentage Yield (APY)
0.00% to 0.25%
Minimum Deposit Amount
$40
Pros & Cons
Highlights
Northwest Community Credit Union Northwest Checking may be worthwhile if you prioritize a checking account with no monthly service fees and no minimum balance requirements. You’ll also earn 0.25% APY on the first $5,000 of your account if you make at least 10 debit card transactions each month and enroll in online bank statements.
Annual Percentage Yield (APY)
0.50% to 1.50%
Minimum Deposit Amount
$500
Annual Percentage Yield (APY)
0.50% to 1.50%
Minimum Deposit Amount
$500
On Northwest Community Credit Union’s website
Details
Annual Percentage Yield (APY)
0.50% to 1.50%
Minimum Deposit Amount
$500
Pros & Cons
Highlights
Generally, brick-and-mortar financial institutions require a $1,000 minimum opening deposit for CDs, but Northwest Community Credit Union lets you open a CD with a $500 initial deposit.
Northwest Community Credit Union Certificates of Deposit also pay a higher interest rate than the average CD, but you might find even higher CD rates through online banks.
Super Investor’s Money Market Account
Annual Percentage Yield (APY)
0.00% to 0.40%
Minimum Deposit Amount
$1,000
Super Investor’s Money Market Account
Annual Percentage Yield (APY)
0.00% to 0.40%
Minimum Deposit Amount
$1,000
On Northwest Community Credit Union’s website
Details
Annual Percentage Yield (APY)
0.00% to 0.40%
Minimum Deposit Amount
$1,000
Pros & Cons
Highlights
Some money market accounts have debit cards or paper checks for easy access to your money, but this account doesn’t offer either option.
How Northwest Community Credit Union works
Northwest Community Credit Union is a community development financial institution (CDFI) with 13 branches in Oregon. It is part of the CO-OP ATM network, which provides access to over 55,000 surcharge-free ATMs throughout the US.
To contact the credit union’s customer support center, call anytime from 8 a.m. to 6:30 p.m PT on weekdays or 10 a.m. to 2 p.m. PT on Saturdays.
Northwest Community Credit Union’s mobile app is rated 4.3 out of 5 stars in the Google Play store and 4.4 out of 5 stars in the Apple store.
The local financial institution is federally insured by the NCUA. Up to $250,000 is safe in an individual account and $500,000 in joint bank accounts.
To become a member of Northwest Community credit union, you or a family member must live in one of the following Oregon counties:
- Benton
- Clackamas
- Coos
- Crook
- Deschutes
- Douglas
- Jackson
- Jefferson
- Josephine
- Klamath
- Lane
- Linn
- Marion
- Multnomah
- Washington
All members will need to pay a $10 one-time membership fee and open Regular Savings with at least $10.
The role of community development financial institutions
CDFIs serve low-income and disadvantaged communities. Banks and credit unions have to undergo certification by the US Department of Treasury’s Community Development Financial Institutions Fund and meet specific requirements to address banking barriers.
Through Project Community, Northwest Community Credit Union awards grants annually to educators in local schools for classroom supplies, technology, classroom projects, and field trips. The credit union also offers scholarships to high school students and high school graduates who want to pursue higher education.
We include ratings from the Better Business Bureau so you can see how an institution addresses customer issues.
The BBB gave Northwest Community Credit Union an A+ rating. A good BBB rating doesn’t necessarily mean that your relationship with the credit union will be smooth, though. You’ll want to read online customer reviews or talk to family or friends who are members to help shape your opinion.
Northwest Community Credit Union hasn’t been involved in any recent public scandals.
SELCO Community Credit Union is another CDFI in Oregon. To qualify for membership at SELCO Community Credit Union, you or a family member must live in one of 27 eligible Oregon counties or eight Washington counties.
Choosing between these two credit unions will likely depend on what types of accounts you’re searching for.
You might prefer SELCO Community Credit Union over Northwest Community Credit Union if you’d like to open a savings account or money market account. The SELCO Community Credit Union Membership Savings Account offers a higher interest rate than Northwest Community Credit Union Regular Savings, regardless of your account balance.
You’ll also earn a higher interest rate on the SELCO Money Market Account than with the Northwest Community Credit Union Super Investor’s Money Market Account as long as you maintain an account balance of at least $1,000.
Northwest Community Credit Union might be more appealing if you’re looking for a checking account, though. Northwest Community Credit Union Northwest Checking lets you earn 0.25% APY on the first $5,000 in a free checking account if you meet certain requirements each month. At SELCO, you can earn interest on a checking account, but you’ll have to pay a $5 monthly service fee if your account balance drops below $500.
Deciding between these two financial institutions may depend on whether you prefer banking with a credit union or a bank.
Umpqua Bank is a regional bank with branches in Oregon, so it doesn’t have any requirements to open an account.
Meanwhile, credit unions require membership to open up accounts. At Northwest Community Credit Union, you or a family member must live in one of 15 eligible Oregon counties to be eligible for membership. You’ll also need to pay a one-time $10 membership fee and open a savings account.
If you don’t live in an eligible county or you don’t want to open a savings account, the clear choice between the two is Umpqua Bank.
If you’d like to open a savings account where you don’t have to deal with monthly service fees, you might lean more toward Northwest Community Credit Union. The Umpqua Bank Grow Savings Account charges a $3 monthly service if you don’t meet one of the monthly requirements to waive the fee.
Frequently asked questions
To qualify for membership at Northwest Federal Credit Union, you or a family member must live in an eligible Oregon county (Benton, Clackamas, Coos, Crook, Deschutes, Douglas, Jackson, Jefferson, Josephine, Klamath, Lane, Linn, Marion, Multnomah or Washington county).
You’ll also need to pay a $10 one-time membership fee and open Regular Savings with at least $10 to become a member.
Northwest Community Credit Union is a local financial institution with branches in Oregon. You may find a branch in any of the following cities:
- Albany
- Bend
- Cottage Grove
- Eugene
- Grants Pass
- Medford
- North Bend
- Portland
- Roseburg
- Springfield
Northwest Federal Credit union is federally insured by the NCUA. The NCUA is a government agency that insures deposits so you don’t lose money if your credit union fails. Up to $250,000 is safe in individual bank accounts, and $500,000 is secure in joint bank accounts.
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