will work with it's members to achieve
your'e financial goals
CommunityWide is promoted as an online bank. NOT! It is impossible to transfer money to other accounts if you have bank accounts that are not a MEMBER CU. If you live in another city, you have to physically go to a MEMBER CU to get your money. I was told to "just go in to bla, bla, bla." I do not JUST do anything in a wheelchair which is EXACTLY why I needed an online service!
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.
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%
- 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.
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!
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.