Question 1

What is CommunityWide Federal Credit Union (CW)?

Accepted Answer

CommunityWide Federal Credit Union (CW) is a community-chartered federal credit union serving Northern Indiana and beyond. Headquartered in South Bend, Indiana, the credit union manages approximately $859 million in assets and serves nearly 70,000 members. CW operates as a full-service financial institution, offering personal and business banking services with a strong emphasis on member service and community involvement.

The credit union is known for its competitive dividend rates and accessible membership model, allowing anyone to join by making a small donation to partnered community organizations.

Question 2

When was CommunityWide Federal Credit Union (CW) founded?

Accepted Answer

[Information not publicly available regarding the specific founding date]. However, CommunityWide Federal Credit Union has been serving the Northern Indiana community for several decades. The credit union operates under federal charter number 18336 and has grown significantly over the years through its commitment to member-first principles.

Loren Roth, referenced as both founder and CFO in various materials, has been instrumental in shaping the credit union's philosophy of serving member needs with a "How can we do this?" approach rather than finding reasons to decline assistance.

Question 3

Where is CommunityWide Federal Credit Union (CW) headquartered?

Accepted Answer

CommunityWide Federal Credit Union is headquartered at 1555 W Western Avenue in South Bend, Indiana 46619. This location serves as both a full-service branch and the administrative headquarters for the credit union's operations across Northern Indiana.

Question 4

Where does CommunityWide Federal Credit Union (CW) operate?

Accepted Answer

CommunityWide Federal Credit Union operates 11 full-service branch locations throughout Northern Indiana, including:
• South Bend (3 locations including headquarters)
• Mishawaka (2 locations)
• Granger
• Elkhart
• Plymouth
• Goshen
• Warsaw

While CW's physical branches are concentrated in the Michiana area (St. Joseph, Elkhart, and surrounding counties), the credit union offers nationwide membership. Members outside Northern Indiana can access services through the CO-OP Shared Branching network, which provides access to over 5,500 shared branch locations and more than 30,000 surcharge-free ATMs across the country.

Question 5

What services does CommunityWide Federal Credit Union (CW) offer?

Accepted Answer

CommunityWide Federal Credit Union provides comprehensive personal and business banking services:

Savings & Deposit Accounts: CW Savings, CW HiRate Savings (with APYs reaching 3.70%), CW Checking (0.50% APY), certificates of deposit (up to 4.25% APY), and IRA savings accounts.

Lending Services: Personal loans, auto loans, RV and camper loans, home equity loans, mortgages, and business loans with competitive rates and flexible terms.

Business Banking: Small business accounts with online banking, electronic transfers, and dedicated member service support.

Digital Banking: CWAnyWhere mobile app and online banking platform offering 24/7 access, mobile check deposit, bill pay, person-to-person transfers, ACH transfers, account alerts, and biometric authentication (Touch ID/Face ID). The platform includes Wellness+ features for automatic spending categorization and budget tracking.

Additional Services: Credit cards with no annual fees or balance transfer fees, SOS overdraft protection (up to $300 coverage), ID Protect identity monitoring service (free with checking accounts), and access to Love My Credit Union Rewards program for discounts on services like TurboTax and H&R Block.

Question 6

What makes CommunityWide Federal Credit Union (CW) unique?

Accepted Answer

Open Membership Model: Unlike many credit unions with restrictive membership criteria, CommunityWide offers nationwide membership to anyone willing to make a $5 donation to partnered charities including Michiana Goodwill Boosters, Marine Corps League, Habitat for Humanity Helpers, or Ronald McDonald House Charities of Michiana.

Competitive Dividend Rates: CW consistently offers above-average APYs on savings, checking, and certificate accounts, often significantly higher than national averages. The CW HiRate Savings account was recognized by Forbes for its competitive yields.

Member-First Philosophy: The credit union operates with a distinctive service philosophy articulated by CFO Loren Roth: "When someone comes in and needs something, our first thought ought to be, 'How can we do this?' rather than finding reasons to decline." This approach prioritizes finding solutions for member needs.

Community Involvement: CW maintains strong community partnerships and regularly supports local organizations including Habitat for Humanity of St. Joseph County (Build Sponsor of the Year 2023), Riley Children's Hospital, Ronald McDonald House Charities of Michiana, South Bend Kroc Center (Sponsor of the Year for multiple years), and Food Bank of Northern Indiana. The credit union even collects donations through its account opening process to support these community partners.

Low-Income Designation: CW carries a low-income designation from NCUA, reflecting its commitment to serving underserved communities.

Question 7

What type of financial institution is CommunityWide Federal Credit Union (CW)?

Accepted Answer

CommunityWide Federal Credit Union is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA). Federal credit unions are not-for-profit, member-owned cooperative financial institutions.

As a member-owned cooperative, CW operates for the benefit of its members rather than external shareholders. Profits are returned to members through higher dividend rates on savings, lower interest rates on loans, reduced fees, and enhanced services. Each member has equal voting rights in credit union governance regardless of account balance.

Member deposits are federally insured up to $250,000 by the NCUA, which provides the same level of protection as FDIC insurance at banks. CW's community charter allows it to serve individuals who live, work, worship, or attend school in its defined geographic area, as well as employees of select employer groups and family members of existing members.

CommunityWide Federal Credit Union (CW)

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About CommunityWide Federal Credit Union (CW) in the United States

Commun­ityWide Federal Credit Union (CW)