Basic Business Checking
No minimum daily balance requirement and no per-item charges
Checking that Brings Value to Your Business
Business Money Market Account
Offers tiered dividend rates based on your balance, no minimum deposits required.**
Northwest Federal offers low-cost checking accounts that meet the high demands of your business. Our business checking accounts offer:
- eStatements
- Online Banking with Bill Pay
- Visa® Debit card account access
- 30,000+ free ATMs nationwide
Open a Business Checking Account today.
If you already have a business savings account with us, simply check “update” on the Business Account Application, select your checking account on the application, sign and return.
Business Checking Comparison
| Feature | Business Basic Checking | Business Dividend Checking | Business Money Market | Real Estate Escrow Checking |
| Minimum Deposit to open | $100 | $100 | $0 | $0 |
| Monthly minimum balance requirements | x | $5,000 average daily checking account balance required | x | x |
| Monthly maintenance fees | x | $20 (No monthly service fee with an average daily balance of $5,000) | x | x |
| Unlimited check writing | x | x | Up to six (6) in a calendar month1 | x |
| Free access to network of 33,000+ ATMs & 5,000 Shared Branches nationwide | x | x | x | N/A |
| Free Online Banking with Bill Pay | x | x | x | x |
| Free Mobile Banking with Mobile Deposit | x | x | x | N/A |
| Free eStatements | x | x | x | x |
| Free night depository services at applicable branches | x | x | x | N/A |
| Free Debit Card | x | x | x | N/A |
| Merchant Services eligible | x | x | x | N/A |
| Earns Dividends | N/A | See Deposit Rate Sheet | See Deposit Rate Sheet | N/A |
1 The Money Market Account is a non-transaction account and as such you may make up six (6) preauthorized, automatic, telephone, or audio response withdrawals by check, debit card or similar order to another account of yours or to a third party during any calendar month.
The legal structure of your company will determine the documentation you’ll need to open your business accounts. We’ll walk you through the necessary paperwork to open an account for your business structure.
You may be asked to complete the following:
- Business Membership Application
- Member Information Form
- Beneficial Ownership Form
- Business Account Checklist
Corporations, Limited Liability Companies, Partnerships and Sole Proprietorships will need to provide:
- Tax Identification Number
- Social Security Number (for each authorized signor)
- Valid picture identification for all signers (Driver’s License, Passport)
- Articles of Incorporation, Organization, or Partnership Agreement
- Corporate Resolution
- Business License, if applicable
- Doing Business As (DBA), if applicable
If you have questions, please contact us:
Email: business@nwfcu.org
Phone: 703-709-8900 x4903
*Business Dividend Checking as no monthly service fee with a $5,000 minimum daily balance. Fall below the average daily balance and a $20 monthly fee applies.
** Dividends are compounded daily from the date of deposit to the date of withdrawal and are credited to your account monthly. The Money Market Account is a non-transaction account and as such you may make up to six (6) preauthorized, automatic, telephonic, or audio response transfers or withdrawals by check, debit card or similar order to another account of yours or to a third party during any calendar month.
Visa is a registered trademark of Visa International Service Association.