Communitywide Federal Credit Union

Overview / Commentary
1555 W Western Ave
South Bend, IN 46619

Communitywide Federal Credit Union is headquartered in South Bend and is the 18th largest credit union in the state of Indiana. It is also the 537th largest credit union in the nation. It was established in 1967 and as of June of 2023, it had grown to 82 employees and 68,559 members at 11 locations. Communitywide Federal Credit Union's CD rates are 6X the national average, and it has a B+ 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

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

Too Complicated: IRA Savings Account

Posted by: |

I inquired about the 5% APY IRA Savings account, and my review is just about this. does not give any important details, and some information is wrong, even if it is up to date.

Communitywide's website does not give essential details, e.g. is there a Roth option. Deposit

I called several times before I got a hold of a live person. The individual was knowledgeable and was able to answer all my questions.

First of all: $2,000 is the minimum that has to be deposited when opening a IRA (Roth included) savings account.

The account opening fee is $5, plus an additional $5 for joining the Credit Union.

But their procedure is a complicated liker others: You have to have 2 accounts. What? Yes, you need to have a regular account first, and then the IRA savings will be opened in addition to it.

Funding then comes from your account, going into account #1 at Community Wide, than going into the IRA.

I suppose withdrawals would work the same way.

Behind The Times

Posted by: |

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

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 Grade Components

NCUA #18336
Year Chartered1967
Primary Regulator
Profit Margin
Return on Assets - YTD0.86%
Return on Equity - YTD5.89%
Annual Interest Income$21.7MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$777.6MM$689.7MM
LoansQ2 2023vs Q2 2022$679.3MM$586.1MM
DepositsQ2 2023vs Q2 2022$661.4MM$584.6MM
Equity CapitalQ2 2023vs Q2 2022$111.0MM$101.3MM
Loan Loss AllowanceQ2 2023vs Q2 2022$24.4MM$24.7MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$15.1MM$9.7MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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Communitywide Federal Credit Union Savings Account Rates

5.00%$1-High Rate - Monthly
5.00%$1-IRA - Quarterly
2.00%$1-Savings Account

Communitywide Federal Credit Union Checking Account Rates

1.00%$1-Checking Account

Communitywide Federal Credit Union CD Rates

5.60%$1k-12 Month Share Certificate
5.60%$1k-CW Certificates
5.50%$1k-6 Month Share Certificate
5.30%$1k-18 Month Share Certificate
5.00%$1k-24 Month Share Certificate
4.60%$1k-36 Month Share Certificate
4.30%$1k-48 Month Share Certificate
4.00%$1k-60 Month Share Certificate

Communitywide Federal Credit Union IRA Rates

5.60%$1k-12 Month IRA
5.50%$1k-6 Month IRA
5.30%$1k-18 Month IRA
5.00%$1k-24 Month IRA
4.60%$1k-36 Month IRA
4.30%$1k-48 Month IRA
4.00%$1k-60 Month IRA


South Bend Area

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