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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

Founded in 1923, First Financial Northwest Bank has assets totaling $1 billion along with deposits totaling $859 million, ranking it as a medium-size bank. First Financial Northwest Bank, whose headquarters are in Renton, Washington, has above-average customer service access with a live chat feature, great for getting help during the work week. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. We ranked the bank at a 4.3 stars out of 5, indicating that First Financial Northwest Bank is a great bank that you should seriously consider. First Financial Northwest Bank offers a complete array 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; other popular banks have higher rates. If you're looking for a checking account for everyday use, First Financial Northwest Bank offers an option without a monthly fee. Banks that offer free checking as well as a high savings APY are your best option for getting the most income on your deposits alongside easy 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

With a savings rate of 0.10%, First Financial Northwest Bank ranks poorly in comparison to other U.S. banks. First Financial Northwest Bank's one-year CD earns at a rate of 0.75% and the five-year CD earns at a rate of 2.50%, while its highest-yielding money market account earns at a rate of 0.65%. Given its noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

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 has typically extremely low fees in comparison to the average U.S. bank. First Financial Northwest Bank's checking account has no monthly fee, making it excellent for anyone looking for a simple account. Additionally, it has an overdraft fee of $30.00, which is considerably less than the average U.S. overdraft fee. First Financial Northwest Bank does not refund out-of-network ATM fees, meaning you'll have to find a First Financial Northwest Bank ATM or pay the fee.

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 bank locations in Washington. With mobile and web apps, First Financial Northwest Bank makes account access convenient, even on the go. First Financial Northwest Bank also offers a live chat feature, giving customers an easy access point throughout the day. First Financial Northwest Bank receives fair marks from customers for its online presence. Out of 10 customer reviews on both iOS and Android platforms, the First Financial Northwest Bank mobile app has an overall rating of 3.8 out of 5 (compared to the national average of 3.8). First Financial Northwest Bank's mobile app allows you to manage your accounts by checking monthly statements, sending and receiving money and accessing support representatives. First Financial Northwest Bank gets a superb consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 assets totaling $1 billion as well as $859 million in deposits. First Financial Northwest Bank's Texas Ratio is 0.49%, denoting a minute 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 Accounts 0.25% APY 0.65% APY $10000 $15000

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 think about 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 locations across the U.S.

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