Communitywide Federal Credit Union


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

Communitywide Federal Credit Union is headquartered in South Bend and is the 19th largest credit union in the state of Indiana. It is also the 609th largest credit union in the nation. It was established in 1967 and as of March of 2021, it had grown to 75 employees and 57,850 members at 11 locations. Communitywide Federal Credit Union has an A+ health rating.

Field of Membership Restrictions

Membership in Communitywide Federal Credit Union is open to members of the Michiana Goodwill Boosters, the Marine Corps League of St. Joseph Valley, or Habitat for Humanity Helpers. Membership is also open to those who work in Adams Engineering Company, Syscon International, and over 40 other Select Employer Groups.
See current membership details

Related Posts

Smartphone Required To Join Credit Union - 7/12/2021

I wanted to let my fellow DA readers know that you are unable to join this credit union unless you own a smartphone. Sounds incredible, doesn't it? I called the credit union to explain that I do not own a smartphone and asked if there was any way I could complete the online application without one. The CSR stated that you must have a smartphone so they can take a picture of you to verify your identity. I offered to provide copies of my driver's license and other identification via email or regular mail but that is not acceptable. She did suggest I borrow someone's smartphone to which I replied I didn't want to involve someone else in my financial affairs. They need to provide alternate methods for completing their online application. Their short-sighted policy just cost them a depositor.

CommunityWide Federal Credit Union Ups CD Rates - 7/2/2021

CommunityWide Federal Credit Union (easy membership) has increased rates on its 6-, 12-, and 24-month Share Certificates. $1k minimum opening deposit.

Rate Increases On Savings, Funds, And High Rate Accounts - 7/1/2021

Communitywide's three savings products have rate increases to start the month/quarter. The regular savings is now 0.4%; the Funds (allowing penaly-free withdrawal only during the first few days of the month) is now 0.6%; and the High Rate (withdrawal only during the first few days of the quarter) is now 0.8%.

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Reviews (7)

So Helpful

Posted by: |

The operator I spoke with was Nicole, she was absolutely wonderful. I was very stressed and Nicole put me at ease and helped me though the process of creating an account and setting up a payment arrangement

Behind The Times

Posted by: |

Their rates are good but their online banking, particularly ability to transfer money in and out is atrocious.

Hard Pull!

Posted by: |

To become a member-depositor. Without seeking any credit. No thanks, I am sick and tired of excessive "security" penalties and requirements against those of us with any capital left after the FED screws us. Stars for prompt, accurate reply to my asking this.

There When You Need Them

Posted by: |

Community Wide Credit Union has gone above and beyond to help me out. Late one Friday night, I found myself going through a separation with my husband. He told me that he was going to drain our joint account. This was the same day that my $4000 tax refund had just been deposited. I immediately called Community Wide and they were amazing in helping me out. The woman I spoke with helped me open a new checking account over the phone and was able to transfer all my money into it so that he could no longer ruin me financially. She was my savior that night! She really went above the call of duty and did more for me than I would ever expect a bank employee to do. I know it was her job to open that account for me, but the way she handled the entire situation and looked into all the options and helped me decide the best thing to do for me was wonderful. I've also been just as pleased with the service I have received in my branch as well. Every employee has always done their best to get me in, out and on my way. Whether I'm making a deposit, withdrawal, or looking for information about a loan, my experience has been great. They definitely have me as a customer for life!

Customer Review of Community Wide

Posted by: |

I had a checking account with Communitywide for over four years, but I closed it when I moved out of the area. Overall the experience was good. The people who worked in the bank were friendly, caring, and willing to help whenever possible. The only thing that bothered me about the experience was that the hours were terrible. They closed at 4 so there was no way to get there after work. If I ever needed to do anything, I would have to get up early on Saturday. I also prefer banks that have ATMs, and they only had one at one location that I recall not at all of them. I also would prefer a credit union that offers more incentives. I would have considered a savings account there if there had been a reward for doing so. The bank that I have a savings account with now offered 20 dollars to start one. All in all though it was a positive experience.

Starting Apr 2019, Their Regular Savings Acct Earned A Higher APY Than Their High Rate Savings Acct

Starting on Apr 2019, as noted below, Communitywide FCU's Regular Savings acct earned higher APY when compared to their so-called High Rate Savings acct:

YYYY-MM .... Regular Savings acct APY ... High Rate Savings acct APY
2019-03 ....... 0.00% ................................ 2.25%
2019-04 ....... 2.46% ................................ 2.30%
2019-05 ....... 2.38% ................................ 2.30%
2019-06 ....... 2.45% ................................ 2.30%

Caveats:
- On their Regular Savings acct, just like any other regular savings acct, you can make up to 6 withdrawals per month, in accordance with federal regulations.
- On their High Rate Savings acct, which is more like a short-term 3-month CD (on automatic/perpetual rollover until you close the acct), you can only make penalty-free withdrawals during the first 5 days of each quarter. If you make any withdrawal(s) outside of that very narrow window, they'll charge you a withdrawal penalty equivalent to (1 month) 30 days of dividends.
- For all I know, what Communitywide giveth, Communitywide can also take away. So, just like they suddenly increased their Regular Savings acct APY from 0.00% to 2.46% on 2019-04 without notice, they could just as easily drop it back down to 0.00% without notice and with neither rhyme nor reason.

Try To Avoid

Posted by: |

Be warned: they do a hard credit inquiry that can damage your credit score, for opening an account. As others have mentioned it does not make sense to do a credit inquiry for investing in the bank. It should be the other way around and from that aspect they are rated B+, which is pretty low and thus a red flag.



Health
A+

Health Grade Components

Overall
NCUA #18336
Year Chartered1967
Employees75
Primary Regulator
Profit Margin
Return on Assets - YTD1.53%
Return on Equity - YTD10.44%
Annual Interest Income$8.7MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$590.0MM$490.6MM
LoansQ1 2021vs Q1 2020$475.3MM$410.8MM
DepositsQ1 2021vs Q1 2020$504.1MM$411.7MM
Equity CapitalQ1 2021vs Q1 2020$84.5MM$77.6MM
Loan Loss AllowanceQ1 2021vs Q1 2020$20.9MM$14.1MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$6.3MM$12.8MM
Real Estate OwnedQ1 2021vs Q1 2020$10.00K$55.00K
Rates
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Communitywide Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%$1-High Rate - Quarterly
0.80%$1-IRA - Quarterly
0.60%$1-Funds - Monthly
0.40%$1-Savings Account

Communitywide Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$1-Checking Account

Communitywide Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.95%$1k-60 Month Share Certificate
0.90%$1k-48 Month Share Certificate
0.85%$1k-36 Month Share Certificate
0.80%$1k-24 Month Share Certificate
0.75%$1k-12 Month Share Certificate
0.70%$1k-6 Month Share Certificate

Communitywide Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.95%$1k-60 Month IRA
0.90%$1k-48 Month IRA
0.85%$1k-36 Month IRA
0.80%$1k-24 Month IRA
0.75%$1k-12 Month IRA
0.70%$1k-6 Month IRA
Locations

Availability



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