A filter assembly includes a manifold having a fluid inlet and a fluid outlet, a filter housing having a filter medium provided therein, the filter medium defining an inner filter chamber and defining an outer filter chamber between the filter medium and the filter housing, the filter housing being removably attached to the manifold. The filter assembly includes a valve assembly mounted inside the manifold, and a by-pass channel defined inside the manifold between the fluid inlet and the fluid outlet. The valve assembly includes a valve body, a by-pass valve system, and a shut off valve system. The by-pass valve system includes a by-pass valve piston having a piston body, and a by-pass valve spring arranged to move the by-pass valve piston. The shut off valve system includes a shut off valve piston, and a shut off valve spring arranged to move the shut off valve piston.