Community West CU (MI) Adds 18-36 Pick Your Term CD


Availability: Residents of the western Michigan counties of Allegan, Barry, Ionia, Kent, and Ottawa

This week, Community West Credit Union (Community West CU) added a new 18-36 Pick Your Term CD (2.00% APY) to its product line.

The minimum opening deposit is $500 of new money and there is no balance cap.

According to CSR, the Early Withdrawal Penalty is 180 days interest, regardless of the CD term length chosen.

7% Checking Account

Community West Credit Union also offers a 7% Checking account that pays 7% APY (obviously) on qualifying balances up to $2K. This a completely fee-free account and it has relatively simple requirements:

  • Monthly direct deposit of at least $200
  • Actively use the Community West CU debit card


Headquartered in Kentwood, Michigan, Community West Credit Union’s field of membership is primarily residency based, with individuals who live, work, worship, or attend school in Allegan, Barry, Ionia, Kent, or Ottawa County eligible for membership.

Immediate family members of the above named individuals are also eligible to join.

In somewhat of a redundant statement, Community West CU’s Membership Qualification page also reads,

Anyone over age 55 who is receiving a retirement annuity, pension, social security etc., and lives in or belongs to a retirement organization (such as AARP), and resides in any of the counties listed above.

Joining Community West Credit Union and/or opening a CD can be done in person at any of five Michigan branches, located in Hudsonville, Kentwood, Middleville, Rockford, and Wyoming.

While Community West CU’s online banking platform, It’s Me 24/7, allows current members open new accounts or apply for a loan via the internet, individuals who are new to the Credit Union must visit a branch location to start the process.

Credit Union Overview

Community West Credit Union (NCUA Certificate # 61677) has an overall health grade of "A" at, with a Texas ratio of 9.27% (excellent) based on September 30, 2015 data. In the past year, Community West CU has increased its total deposits by $30.63 Million, an excellent annual growth rate of 29.75%. Please refer to our financial overview of Community West Credit Union for more details.

Community West Credit Union was established in 1967 as the Steelcase Employees Credit Union. (Steelcase, founded in 1912, is the world’s largest manufacturer of office furniture.) In the early 2000’s, Community West CU’s President, Charles Rea, spearheaded an expansion of the field of membership (FOM), which increased membership to over 13,000. As a result of that expansion, the name was changed in 2004 to better reflect the FOM. Community West Credit Union currently has over 20,800 members and assets in excess of $162 Million.

How the CD Compares

Clearly, the shorter the term chosen, the more competitive the APY. When compared to similar length-of-term CDs tracked by that require a similar deposit and are available to Michigan residents, Community West Credit Union’s 18-36 Month Your Term CD APY currently ranks first, regardless of length-of-term category.

The above rates are accurate as of 1/8/2016.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

Related Pages: Community West Credit Union, Grand Rapids

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