CommunityWide Federal Credit Union Ups CD Rates

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Deal Summary: Share Certificates – 6-month (0.85% APY), 12-month (0.85% APY), 24-month (0.90% APY), $1k minimum deposit

Availability: Easy membership requirement

At the beginning of June, Indiana-based CommunityWide Federal Credit Union (CW) added 5 bps to its 6-month and 12-month Share Certificate APYs. CW started the new month by again increasing rates, with 15 bps added to the 6-month APY and 10 bps to the 12- and 24-month APYs. Any CW Share Certificate can be opened with a minimum $1k deposit, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.80%$1k-Communitywide Federal Credit Union24 Month Share Certificate
0.80%$1k-Communitywide Federal Credit Union24 Month IRA (Traditional, Roth)
0.75%$1k-Communitywide Federal Credit Union12 Month Share Certificate
0.75%$1k-Communitywide Federal Credit Union12 Month IRA (Traditional, Roth)
0.70%$1k-Communitywide Federal Credit Union6 Month Share Certificate
0.70%$1k-Communitywide Federal Credit Union6 Month IRA (Traditional, Roth)
Rates as of September 18, 2021.

These three Share Certificates are also available as IRA Certificates (Traditional and Roth), earning the same APYs with the same deposit requirements. As stated on the Membership Eligibility page,

Please note, IRA accounts require special processing and cannot be completed online at this time. Please contact the credit union directly if you wish to open an account of this type so we may assist you with the requirements needed to process such a request.

As stated on the Dividend Rates page, the Early Withdrawal Penalty (EWP) reads as follows:

Any amount withdrawn prior to the maturity date of this Certificate will be assessed a penalty equal to the amount of the withdrawal times the remaining term (days) of this certificate at the rate of 2 times the current APR (divided by 365) paid on this certificate. The penalty amount will be deducted from the amount withdrawn.

Funding and Maturing Share Certificates

Funding a Share Certificate can be done by ACH, wire transfer, or check. According to CSR, the easiest way to fund a new Share Certificate is through an internal transfer. CSR suggested using the CO-OP Shared Branch network to deposit funds in your Share Savings account, allowing for an easy, quick transfer into a Share Certificate. Maturing funds can be distributed by check to the address on file, by wire, or transferred to a CW checking/savings account.

Dividends are credited monthly and can compound in the Share Certificate, be deposited into another CW account, or transferred to another financial institution.

CW Share Certificates do not automatically renew. According to the Certificate Accounts page,

Upon maturity you will have the option to renew your certificate for another term that you select or we can deposit it into another share account. We do not automatically renew your certificate. We believe that you should be the one to decide when and how you would like to invest your savings.

If you see a better rate listed on DA and you’re feeling persuasive, you might be able to score a higher APY. According to the Certificate Accounts page,

Think you have found a better rate somewhere else? Just let our member service team know and we will do our best to match other rates. Let us work for you and help you reach those long term financial goals.

Availability

Headquartered in South Bend, Indiana, CommunityWide Federal Credit Union offers membership to virtually any U.S. citizen or resident alien through a $5 donation to the Michiana Goodwill Boosters, the Marine Corps League of St. Joseph Valley, or Habitat for Humanity Helpers.

According to CSR, CW’s online application allows a new member to join and make contribution without having to contact the qualifying group.

Minimum $10 initial deposit, $5 will be used for association dues.

Employees and retirees of more than 40 Select Employee Groups also qualify for membership.

Immediate family members who live in the same household of current CW members are welcome to apply.

Joining CW and/or opening a Share Certificate can be done online or at any of 11 Indiana branches, located in Elkhart, Goshen, Granger, Mishawaka (2), Plymouth, South Bend (4), and Warsaw.

You must purchase and maintain the minimum required one share ($5.00).

In addition to participating in the CO-OP Shared Branch and ATM networks, CW participates in the Alliance One and CULIANCE ATM networks.

Credit Union Overview

CommunityWide Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 6.03% (excellent) based on March 31, 2021 data. In the past year, CommunityWide has increased its total non-brokered deposits by $104.59 million, an excellent annual growth rate of 27.72%. Please refer to our financial overview of CommunityWide Federal Credit Union (NCUA Charter # 18336) for more details.

Founded in 1967 as the West Washington Association Federal Credit Union, the Credit Union set out to serve “persons of modest means in the near west side of South Bend.” The Credit Union relied on help from concerned South Bend citizens and financial assistance from local Catholic Churches to stay afloat. In 1975, the field of membership was expanded to include all residents of St. Joseph County and the name was changed to St. Joseph County Community Federal Credit Union. Beginning in 1980, a series of more than ten mergers and acquisitions set the stage for the CommunityWide Federal Credit Union re-brand. As Indiana’s 19th largest credit union, CommunityWide has nearly 58,000 members and assets in excess of $590 million.

How the Share Certificates Compare

When compared to similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available nationwide, CommunityWide Federal Credit Union's 6-, 12-, and 24-month Share Certificate APYs either currently rank first or share the top spot.

The above information and rates are accurate as of 7/2/2021.

To search for the best CD rates, either nationally available or state-specific, please refer to our CD Rates Table page.

Related Pages: South Bend CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
enelrad1123
  |     |   Comment #1
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 Short-Term CD Rates
Deal Summary: Share Certificates – 6-month (0.70% APY), 12-month (0.75% APY), $1k minimum deposit

Availability: Easy membership requirement

Indiana-based CommunityWide Federal Credit Union (CW) began the month by adding 5 bps to its 6-month Share Certificate (0.70% APY) and 12-month Share Certificate (0.75% APY). The minimum opening deposit is $1k, with no stated balance cap.

The 6- and 12-month Share Certificates are also available as IRA Certificates (Traditional and Roth), earning the same APYs with the same deposit requirements. As stated on the Membership Eligibility page,

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CommunityWide Federal Credit Union Offers Competitive 6-Month CD
Deal Summary: 6-month Share Certificate, 1.25% APY, $1k minimum deposit.

Availability: Easy membership requirement.

In mid-May, Indiana-based CommunityWide Federal Credit Union (CW) dropped the rates on all its Share Certificates to 1.25% APY. While not a good rate for the majority of the Share Certificates, it’s actually a competitive rate for the 6-month Share Certificate. Since I last wrote about CW Share Certificates, the minimum deposit has been lowered to $1k.

The 6-month Share Certificate is also available as an IRA (Traditional and Roth), earning the same...

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CommunityWide Fed Credit Union Ups High Rate-Quarterly Fund
Deal Summary: High Rate - Quarterly funds account, 2.10% APY on balances of $500 and above

Availability: Easy membership requirement

Two weeks ago, Indiana-based CommunityWide Federal Credit Union (CW) raised its profile by increasing Share Certificate rates to record levels, becoming the current rate leader for nationally available CDs.

CW is again making news this week by upping the rate on its High Rate - Quarterly funds account to 2.10% APY. A $500 minimum daily balance is required to earn the stated APY and is also the minimum opening deposit.

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CommunityWide Federal Credit Union Ups 60-Month CD APY
Deal Summary: Share Certificates – 12-month (2.50% APY), 18-month (2.65% APY), 24-month (2.90% APY), 36-month (3.00% APY), 48-month (3.20% APY), 60-month (3.30% APY), $2k minimum deposit.

Availability: Easy membership requirement.

Indiana-based CommunityWide Federal Credit Union (CW) raised the APYs on all its Share Certificates this week. With rates increases ranging between 30 and 100 bps, CW’s Share Certificates have become the current rate leaders for nationally available CDs. Any of the Share Certificates can be opened with a $2k minimum deposit and there are no stated balance caps.

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Special 1-Year CD Rate at Communitywide Federal Credit Union - Easy Membership

In today’s rate environment, a 1-year CD may seem appealing for those who don’t want to be locked into a low-rate long-term CD. However, the vast majority of 1-year CDs have rates that are lower than the best money market account rates. Today I found one of the rare exceptions. Communitywide Federal Credit Union just came out with a special 1-year CD with a 2.00% APY. Maximum deposit is $100,000, and the CD requires a checking account with a debit card and a recurring deposit (like direct deposit). There are...

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