Everwise Credit Union


Overview / Commentary
574-232-8012
110 S Main St
South Bend, IN 46601

Everwise Credit Union is headquartered in South Bend and is the largest credit union in the state of Indiana. It is also the 72nd largest credit union in the nation. It was established in 1931 and as of December of 2023, it had grown to 691 employees and 303,315 members at 52 locations. Everwise Credit Union's CD rates are 51% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Everwise Credit Union is open to individuals who live or work in northern Indiana and in the southwest Michigan. (Counties and Membership requirements are listed in the online application).
See current membership details

Reviews (8)

A modern credit union that cares

Posted by: |

My husband and I came to Teachers Credit Union over a decade ago after having a bad breakup with one of the big banks. We left because the fees we were being charged were ridiculous, the customer service was lacking and we expected to buy a house soon so we really needed a good relationship with a bank. TCU came highly recommended from a friend so we opened a checking and savings account with them. The rate of return on our savings is good, but you could find better with a big bank if you shopped around. Our checking account earns a minimal interest as well. We are given a .5% rebate on the use of our debit card, which is very handy - and the rebate is doubled if it is used toward products offered by the credit union, such as travel services or mortgages, etc. All of that said, the online banking is excellent and so is the mobile app. We use mobile check deposit with a picture frequently. The employees are possibly the best feature about TCU. They always bend over backwards to be helpful. The credit union takes security very seriously, as we get calls frequently (especially in the 4th quarter of the year) to let us know about any unusual activity on our account and they have alerted us fraudulent activity before that necessitated shutting down our card. But, they reissue cards at the branch, so you don't have to wait to get one in the mail. We're very pleased with the service and convenience from Teachers Credit Union.

Decent Credit Union

We have been with TCU and while about 8 yrs and So far it's been a slow downhill ride. We notice that the credit union has been slow to keep up with modernizing and slow to implement changes.

We will be considering changing to another local credit union.

Stay Away From This Bank!!!

I've banked with Teachers Credit Union now Everwise since 2018. I submitted an application for a loan in the amount of $3500 - $4000. I was denied the loan due to 1 collection and a debt write off which are old!!! The Underwriter is biased.. I'm closing my accounts and going to another bank that will appreciate me!! There was a time when I deposited my payroll check and was viewed as a criminal!!

Not a very good credit union.

Posted by: |

I used to have an account at Teacher's Credit Union I closed it down about two years ago because I was not satisfied with them at all. When I banked with them I had a checking and savings account and always had to wait in an incredibly long line. Even if they weren't busy I still had to wait a long time. They are a very slow credit union. Like most banks and credit unions out there they charge you to hold an account with them, which I don't like. The last time I was there I had canceled my checking account through them and wanted to deposit a check into my savings account and they said they had to charge me because I no longer had a checking account through them so I canceled my savings account too. I would not recommend them to anyone.

Everwise Destroys Credit Rating In Error And Does Not Fix It

Posted by: |

My 10-year mortgage had one last payment due on December 1, 2023. I decided to turn off the automatic payment scheduled and instead I sent it a little early, on November 24. The payment went through, and I heard nothing from the Credit Union. December 3 the Credit Union informed Experian that the account was paid off. January 2 the Credit Union reported to Experian that my mortgage payment was past due by at least 90 days. I called that day and spoke with someone named Scarlett. She looked it up and stated that because the payment was a little early it was not recorded. She said she was crediting me the late charge and back-dating the payment. She said I had $26.32 due to cover the county fees to close the mortgage. I submitted that payment same day. She also said she was emailing the person that did the credit reporting to have the late payment removed, because it was not in fact late. I now have the county paperwork in hand confirming that there is no longer a mortgage on my home. On February 3 I was informed that the Credit Union had reported that my mortgage was at least 90 days delinquent over due by at least 90 days. I called the Credit Union again and was brushed off with the statement that they would get back to me. They have not. This all has caused my credit score to drop about 130 points.

Everwise Should Be Ashamed To Call Themselves A CU

EXTREMELY EXTREMELY EXTREMELY DISAPPOINTED in and with Everwise. They took over Teachers Credit Union, which my elderly parents had been with for years, didnt update their system per the truck payment that was AUTOMATICALLY coming out every month for 5 years with NO PROBLEMS, NO LATE FEES or anything!!!! The truck, after 5yrs of autopayments, was to be paid off in December.

Last night, they were woken to Everwise sending a local recovery to repossess their truck!!! The tow truck driver even brought a gun. I took them to the bank the next day, and the MANAGER did not know why they stopped taking payments. We requested that he speak to folks higher than him and they also didnt know why. For 4hrs we tried to come to a resolution, and could not other than to completely pay the truck off, pay the towing company $634 dollars to get their truck back. Now they have to somehow try and recoup the $634 for a truck that they have paid ON TIME religiously for 5yrs!!!!! This NEVER happened with Teachers CU, and NO communication came to them that Everwise was not getting payments and again, they dont know why. The lack of communication, professionalism, knowledge etc was an epic failure here which lead to a VERY stressful day.

My parents have another large account at Everwise which they are going to immediately move to another bank and close out with Everwise. Extremely disappointing that elderly people have to deal with this!!!

Worst Bank Ever!

Posted by: |

Trying to setup a deposit account is completely ridiculous and trying to make a loan payment is even worse! No one wants to help you in any way shape or form here! After not getting my deposit account verified from this bank I missed loan payment. Unaware that loan payment didn't process, these fine people put a repossession on my car! So when I tried to call and make a payment over the phone and try AGAIN to get deposit account set up, they say " Oh, we cannot accept any payment from you right now. You will need to have cash or some sort of certified check in hand and bring to the bank in person. "
That's just GREAT because the closest location is only 45 minutes away!!!
NEVER EVER DO ANY BUSINESS WITH THIS BANK!

Frustrating Unprofessionalism

I have been with Teachers Credit Union (TCU) for 9 years. For the first 6 years, I never had a single issue with the bank. After I graduated from college and moved to Chicago, and stopped having a face-to-face relationship with the tellers and bankers, things really went south quickly.

Last year, when I called the institution after having a fraudulent check written and cashed from my checking account, I was initially told by the customer representative that "my voice didn't sound like the picture of the account holder" and that she could not give me any information. In other words, my voice sounded like a woman's and because my driver's license shows that I am a man, they did not think that it was actually me calling (even though I verified my member number, my address, and last 5 of my SSN). By the end of the call, it came to light that the rep interpreted my call as another attempt to defraud the account. When I called back to speak to a manager, the manager was more unprofessional than the front-line rep was. Ultimately, the check amount was credited back to my account, after having to spend my own money to get documents notarized and faxing them over.

This year, when I lost my debit card, and someone proceeded to use it for fraudulent transactions (almost $500 worth) the credit union refused to credit my account and return my money to me. Even though I submitted a police report, they told me that I had to call the merchants myself and try to get refunds that way. Some of the merchants ultimately did not provide refunds, as that responsibility, they asserted, lies with the bank. I am currently working with NCUA to get the rest of my funds returned to me, 6 weeks after the fraud took place.

There have been other miscellaneous quality issues of the years as well. A lot of TCU's problems started when they went from Visa debit cards to MasterCard. I can't tell you how many times I had to get my debit card replaced (and wait several days for its arrival) because the black magnetic strip stopped working. Additionally, after they transitioned to a new website and app a back around 2015, the quality of their online banking decreased drastically. If you check the App Store, for instance, you will see how low of a rating their app has. When they replaced Finance Works with My Money Manager (M3), that was another blow to the experience as the M3 platform rarely works as it should.

Overall, if you live in the Northern Indiana / Southwest Michigan area, and are able to work with the bank face-to-face, it is not a bad place to keep your money. However, if you move out of that area, I would not recommend keeping your account as their call center and online banking experiences are sub-par at best.



Health
B+

Health Grade Components

Overall
NCUA #60060
Year Chartered1931
Employees691
Primary Regulator
Profit Margin
Return on Assets - YTD0.67%
Return on Equity - YTD9.09%
Annual Interest Income$227.5MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$5.17B$4.87B
LoansQ4 2023vs Q4 2022$4.14B$3.85B
DepositsQ4 2023vs Q4 2022$4.28B$4.17B
Equity CapitalQ4 2023vs Q4 2022$376.4MM$364.9MM
Loan Loss AllowanceQ4 2023vs Q4 2022$63.7MM$31.7MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$27MM$9.4MM
Real Estate OwnedQ4 2023vs Q4 2022$251K$141K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Everwise Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Everwise Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%--HSA Checking
0.25%*$10k*-Tiered IRA
OTHER TIERS: 0.10% Up to $10k
0.25%--IRA Share
0.15%*$100k*-Primary Share
OTHER TIERS: 0.05% $2.5k - $10k | 0.10% $10k - $100k
0.15%*$100k*-Choice Savings
OTHER TIERS: 0.05% $2.5k - $10k | 0.10% $10k - $100k

Everwise Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.26%*$100k*-Premium Money Market Account
OTHER TIERS: 0.75% Up to $100k

Everwise Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*-$10kUltimate Checking
OTHER TIERS: 0.10% $10k+
0.15%*$50k*-World Checking
OTHER TIERS: 0.05% Up to $50k

Everwise Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.12%$500-16 Month CD Special
5.07%$500-10 Month CD Special
4.51%$500-37 Month CD Special
3.04%$500-72 Month CD
2.93%$500-60 Month HSA Certificate
2.84%$500-60 Month CD
2.73%$500-36 Month HSA Certificate
2.65%$500-36 Month CD
2.22%$500-24 Month CD
1.62%$500-18 Month CD
1.41%$500-12 Month HSA Certificate
1.36%$500-12 Month CD
1.19%$500-6 Month CD

Everwise Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.15%$500-16 Month IRA Special
5.10%$500-10 Month IRA Special
4.53%$500-37 Month IRA Special
3.06%$500-72 Month IRA
2.86%$500-60 Month IRA
2.68%$500-36 Month IRA
2.25%$500-24 Month IRA
1.65%$500-18 Month IRA
1.39%$500-12 Month IRA
1.22%$500-6 Month IRA
Locations

Availability



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