New Horizon CU Merges with Northwest FCU

HERNDON, Va. – Chantily, Virginia-based New Horizon Credit Union (NHCU) has officially merged with Northwest Federal Credit Union (NWFCU). Established in 1968 by several Continental Telephone (now Verizon) employees as Contelco Credit Union, it was later renamed New Horizon CU and became a diversified full service financial institution with $29 million in assets serving more than 4,000 members. “Northwest Federal Credit Union was chosen because of its dedication to their members, the variety of products and services offered, branch locations, and their commitment to employees and the communities they serve,” said former NHCU President/CEO Elizabeth Grasty. “Our members have voted overwhelmingly to join with NWFCU. They will now become member owners of a strong credit union with convenient access to more than 1,900 shared branches nationwide, as well as financial planning and investment services through Northwest Services LLC.” With over $1.4 billion in assets, NWFCU ranks among the largest credit unions in Virginia and in the top 100 credit unions in the nation.