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First Financial Northwest Bank Review

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First Financial Northwest Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First Financial Northwest Bank started in 1923 and its headquarters are located in Renton, Washington. It handles $1 billion in assets and deposits totaling $859 million, which makes it a medium-size bank. First Financial Northwest Bank has above-average customer service access with a live chat feature, great for getting help during the work week. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset experts rated First Financial Northwest Bank 4.3 out of 5 stars, which means it is a great bank that you should seriously consider. First Financial Northwest Bank provides customers with the full slate of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Financial Northwest Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, First Financial Northwest Bank's standard checking account does not have a monthly fee. Finding a bank with free checking as well as a high interest rate savings account is your best option for accruing the highest income from your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.2
SmartAsset Average: 3.5

First Financial Northwest Bank features a savings rate of 0.10%, which is fair in comparison to the national average. First Financial Northwest Bank's one-year CD has a rate of 0.75% and the five-year CD has a rate of 2.50%, while its highest-yielding money market account earns at a rate of 0.50%. Given its poor savings rate, you should think about other options to earn more on your deposits.

How First Financial Northwest Bank's Savings Rates Compare

First Financial Northwest Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First Financial Northwest Bank charges its customers extremely low fees in comparison to the national average. With no monthly fee, First Financial Northwest Bank's checking account is ideal for people who need an easy banking experience. Also, it has an overdraft fee of $30.00, which is markedly lower than the average overdraft fee charged by U.S. banks. First Financial Northwest Bank unfortunately does not reimburse out-of-network ATM fees, meaning you'll need to locate a First Financial Northwest Bank ATM or accept the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

First Financial Northwest Bank is a brick-and-mortar bank, with 10 total branches in Washington. It also offers access to mobile and web apps for an easy mobile-banking experience. Additionally, First Financial Northwest Bank customers can access live chat for customer service questions, a helpful way to reach a representative during the work day. First Financial Northwest Bank's online and mobile banking services get moderate marks from customers. With 10 customer reviews across Apple and Android platforms, the First Financial Northwest Bank mobile app is scored at 3.8 out of 5 (compared to the national average of 3.8). You can use First Financial Northwest Bank's app to manage your accounts by checking account balances, transferring money as well as accessing customer service. First Financial Northwest Bank receives an excellent consumer satisfaction rating based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

5.0
SmartAsset Average: 4.8

First Financial Northwest Bank is currently a medium-size bank owning $1 billion in assets as well as $859 million in deposits. First Financial Northwest Bank's Texas Ratio is 0.49%, denoting a negligible likelihood of failure. Additionally, First Financial Northwest Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare First Financial Northwest Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $25
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.75% APY
  • 36 Month: 2.00% APY
  • 48 Month: 2.25% APY
  • 60 Month: 2.50% APY
$5000 for all terms
Money Market Account 0.25% APY $5000

First Financial Northwest Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Financial Northwest Bank does not have the best savings rate, which means you should consider looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. First Financial Northwest Bank's CD rates are fair compared to the average U.S. bank.

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Find a First Financial Northwest Bank Near Me

First Financial Northwest Bank has 10 branches across the U.S.

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