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Overview / Commentary
574-239-2700
1555 W Western Ave
South Bend, IN 46619-3742

Communitywide Credit Union is headquartered in South Bend and is the 19st largest credit union in the state of Indiana. It is also the 641st largest credit union in the nation. It was established in 1967 and as of March of 2014, it had grown to 72 employees and 40,655 members. Communitywide Credit Union's savings rates are 35% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must be a Donor member of Michiana Goodwill Boosters or Marine Corps League. Also open to those who work in Adams Engineering Company or several other companies. - See Details

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
B+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Communitywide Credit Union had $8.42 million in non-current loans and owned real-estate with $61.33 million in equity and loan loss allowances on hand to cover it. This gives Communitywide Credit Union a Texas Ratio of 13.74% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for Communitywide Credit Union decreased slightly from 15.50% as of March 31, 2013 to 13.74% as of March 31, 2014, resulting in a positive change of 11.37%.This indicates that the balance sheet and financial strength for Communitywide Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Communitywide Credit Union has increased its total deposits by $7.24 million, resulting in 2.62% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Communitywide Credit Union has shown is above average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Communitywide Credit Union has $334.04 million in assets with $61.33 million in equity, resulting in a capitalization level of 18.36%, which is excellent.

Institution Statistics

Overall
NCUA #18336
Year Chartered1967
Employees72
Primary Regulator
Assets and Liabilities
Assets$334.04 million
Loans$266.76 million
Deposits$284.08 million
Equity Capital$46.51 million
Loan Loss Allowance$14.82 million
Unbacked Noncurrent Loans$8.21 million
Real Estate Owned$210,000
Historic Data - March 2013
Assets$320.03 million
Equity Capital$39.99 million
Loan Loss Allowance$14.17 million
Unbacked Noncurrent Loans$8.21 million
Real Estate Owned$348,000
Profit Margin - Quarterly
Net Interest Margin1.57%
Return on Assets2.22%
Return on Equity15.93%
Interest Income$5.06 million
Rates
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Communitywide Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.70%$2k-Funds-3
0.70%$2k-I.R.A.Savings
0.40%$500-Funds-1
0.30%$1k-Savings Account

Communitywide Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.30%$1k-Checking Account

Communitywide Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.80%$2k-60 Month Share Certificate
1.50%$2k-48 Month Share Certificate
1.20%$2k-36 Month Share Certificate
1.10%$2k-30 Month Share Certificate
1.10%$2k-25 Month CD Special
1.00%$2k-24 Month Share Certificate
0.80%$2k-18 Month Share Certificate
0.80%$2k-15 Month Share Certificate Special
0.70%$2k-6 Month Share Certificate
0.70%$2k-12 Month Share Certificate

Communitywide Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.80%$2k-60 Month IRA Share Certificate
1.50%$2k-48 Month IRA Share Certificate
1.20%$2k-36 Month IRA Share Certificate
1.10%$2k-30 Month IRA Share Certificate
1.00%$2k-24 Month IRA Share Certificate
0.80%$2k-18 Month IRA Share Certificate
0.70%$2k-6 Month IRA Share Certificate
0.70%$2k-12 Month IRA Share Certificate
Locations

Communitywide Credit Union has 11 locations. Click to view all Communitywide Credit Union locations.