Northwest Federal Credit Union (NWFCU) is an American credit union based in Herndon, Virginia. The company was founded as CIA Federal Credit Union in 1947 and was renamed in 1955. Northwest has over US$4 billion in assets and is regulated by the National Credit Union Administration (NCUA), serving more than 279,000 members throughout Northern Virginia and Maryland.[1]
| Formerly | CIA Federal Credit Union (1947–1955) |
|---|---|
| Company type | Credit union |
| Industry | Financial services |
| Founded | 1947 |
| Headquarters | Herndon, Virginia, United States |
Key people | Jeff Bentley, President & CEO |
| Products | |
| Subsidiaries | NWFCU Foundation |
| Website | nwfcu.org |
History
editThe company began in 1947 as the CIA Federal Credit Union to service civilian employees of the Central Intelligence Agency. Plans for an agency-specific credit union were initially outlined in August, under the CIA's predecessor Central Intelligence Group, and approved on August 12 by Director Roscoe H. Hillenkoetter. The Federal Deposit Insurance Corporation formally accepted the union's creation on November 19.[2]
Its membership was expanded to include CIA workers in other fields in 1950, while military personnel attached to the agency became eligible six years later. Retired employees were permitted to remain with the credit union in 1970. With the increased scope, the firm was renamed Northwest Federal Credit Union on March 14, 1955, while the headquarters were moved from Washington, D.C., to McLean, Virginia, in 1962.[2] Although the NWFCU continued to cover CIA employees following the name change and its documents can be subject to Freedom of Information Act requests, it is independent from the agency and has rejected CIA inquiries into employee financial information under the Privacy Act of 1974.[3][4] Northwest's philanthropic arm has maintained a partnership with the Central Intelligence Retirees Association since 2007 to provide scholarships for the children and grandchildren of CIRA members.[5]
In May 2018, Northwest acquired the naming rights for the playing surface at Pfitzner Stadium in Woodbridge, Virginia, renaming it to Northwest Federal Field at Pfitzner Stadium.[6] Six years later, in August 2024, NWFCU agreed to an eight-year deal with the Washington Commanders to sponsor Northwest Stadium in Landover, Maryland.[7][8]
References
edit- ^ "About Northwest". Northwest Federal Credit Union. Retrieved August 27, 2024.
- ^ a b "CIA Federal Credit Union" (PDF). Central Intelligence Agency. April 18, 2000. Retrieved October 21, 2024.
- ^ Maxa, Rudy (October 2, 1977). "Spy expert speaks out". The Santa Fe New Mexican. Retrieved October 21, 2024 – via Newspapers.com.
- ^ "Bankrupt U.S. workers may be vulnerable". The Pittsburgh Press. AP. June 9, 1986. Retrieved October 21, 2024 – via Newspapers.com.
- ^ "Scholarship Applications Now Available". Northwest Federal Credit Union Foundation. Retrieved October 21, 2024.
- ^ "P-Nats Announce Field Naming Rights Partnership with Northwest Federal Credit Union". Minor League Baseball. May 3, 2018. Retrieved October 21, 2024.
- ^ "Washington Commanders and Northwest Federal Credit Union Announce Stadium Naming-Rights Deal". Washington Commanders. August 27, 2024. Retrieved August 27, 2024.
- ^ Standig, Ben (August 27, 2024). "Commanders to play at Northwest Stadium after signing naming rights deal". The Athletic. The New York Times Company. ISSN 0362-4331. Retrieved August 27, 2024.
External links
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