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.

0.65%$1k-Communitywide Federal Credit Union6 Month Share Certificate
0.65%$1k-Communitywide Federal Credit Union6 Month IRA (Traditional, Roth)
Rates as of April 11, 2021.

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

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Any amount withdrawn prior to the maturity date of this Certificate will be assessed a penalty equal to the amount of the withdrawal times the remaining term (days) of this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 The penalty amount will be deducted from the amount withdrawn.

In the past, a variety of CW employees agreed that the EWP is “1% of the amount being withdrawn.”

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 in your account. We do not automatically renew your certificate.

High Rate – Quarterly

I last wrote about CommunityWide nearly two years ago when the rate on its High Rate – Quarterly account had been raised to 2.10% APY. As DA reader, ichaelm, noted in an April Forum post, the APY has dropped to 1.50% APY.

0.60%$1-Communitywide Federal Credit UnionHigh Rate - Quarterly
Rates as of April 11, 2021.

This account is not a straight-forward savings account, but more like a short-term CD/Savings account hybrid. While deposits can be made at any time, withdrawals are restricted and subject to penalties. “Quarterly” refers to when withdrawals can be made without penalty. According to the Funds and High Rate Account page,

In a High Rate Account withdraws are penalty free
on the 1st to 5th of each new calendar quarter.

If a withdrawal is made at any other time in a calendar quarter, the

Penalty is equivalent to the dividends that would
be earned in 30 days on the total being withdrawn.


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, the $5 donation is part of CW’s online application, with no need to contact either qualifying group.

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 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).

CW participates in the CO-OP Shared Branch and ATM networks, as well as the Alliance One and CU24 ATM networks.

Credit Union Overview

CommunityWide Federal Credit Union has an overall health grade of "B+" at, with a Texas Ratio of 17.81% (above average) based on December 31, 2019 data. In the past year, CommunityWide has increased its total non-brokered deposits by $42.96 million, an excellent annual growth rate of 13.82%. 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 18th largest credit union, CommunityWide has nearly 53,000 members and assets in excess of $474 million.

How the Share Certificate Compares

When compared to 181 similar length-of-term CDs tracked by, that require a similar minimum deposit and are available nationwide, CommunityWide Federal Credit Union's 6-month Share Certificate APY currently ranks second.

The above rates are accurate as of 6/18/2020.

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 savings accounts, savings accounts, 1-year CD rates, nationwide deals

  |     |   Comment #1
As a CommunityWide member I can recommend this credit union. The people there are nice and they treat you right.

Only fly in the ointment at CommunityWide comes up should your relationship with them become less active. Unlike with other financial institutions which require account activity at least once a year for you to stay out of trouble, CommunityWide's rule calls for account activity every three months. Otherwise it's all good at CommunityWide.
  |     |   Comment #2
I like the Logo they use
Hand holding the Sun (future)?
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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Top 5-Year CD Rate at Communitywide Federal Credit Union - Easy Membership

It has become difficult in finding 2% CDs these days. Fortunately, there are still a few credit unions that continue to offer a 2.00% APY 5-year CD, and I have reviewed 4 easy-to-join credit unions that are still offering 2%. I've come across a new one. It's Communitywide Federal Credit Union, and in addition to a 2.00% APY 5-year CD, it's also offering two competitive special CDs: a 1.70% APY 49-month CD and a 2.00% APY 59-month CD. Minimum deposit is $2,000. These rates are listed in the credit union's...

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2.20% CDs with Terms from 6 to 18 Months at Communitywide FCU in Indiana - Local Only
Communitywide Federal Credit Union has a certificate special with a 2.20% APY for terms of 6 to 18 months. It also has competitive rates on its regular CDs including a 3.20% APY 48-month CD and a 3.50% APY 60-month CD. These rates are listed at the credit union's dividends page as of 12/16/09.

Eligibility for membership is primarily based on employee groups. However, donor members of two organizations also appear to allow a person to be eligible. Please refer to the credit union's membership page for the full details.

Branches are located...

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