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Communitywide Federal Credit Union CD review

Become a member and earn up to 2% APY.’s rating: 4.4 / 5.0


CommunityWide Federal Credit Union has 11 branches in Indiana, and mostly serves a midwestern customer base. But if you qualify for membership through affiliation with one of their partners, you can earn some of the highest interest rates available on CDs, online or off.

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1-year APY


3-year APY


5-year APY


Star rate4.4
6-month APY1%
1-year APY1.25%
18-month APY1.45%
2-year APY1.7%
30-month APY0%
3-year APY1.8%
4-year APY1.9%
5-year APY2%
Early withdrawal penaltyEarly withdrawal penalty not advertised
Minimum deposit to open$1,000
Interest compoundingDaily

Review by

Heather Petty is a personal finance writer at Finder specializing in home loans, banking and insurance. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing has been featured on MSN, and, among others. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She holds a bachelor’s degree in English with a minor in journalism from the University of Nevada, Reno.

Expert review

If you qualify, becoming a member of the CommunityWide Federal Credit Union may be worth it for the high CD interest rates alone. A CD with CommunityWide is best for those who want more control on their investment. You’ll have access to the interest you earn on your CD and it doesn’t auto-renew when it matures.

How do I open a Communitywide Federal Credit Union CD account?

Sign up for a Communitywide Federal Credit Union CD in nine steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. Click Open an Account from the home page.
  3. Review the account requirements and click Begin.
  4. Select the type of ID you’ll use for the account and upload images of the front and back. Click Continue.
  5. Enter your personal information and click Continue.
  6. Select the CD you want to open and click Continue.
  7. Enter your funding information and click Continue.
  8. Read and accept the account disclosures and click Continue.
  9. Review your information and click Submit to finish your application.


You must meet the following requirements to qualify for a CommunityWide account:

  • At least 18 years old
  • US resident or citizen
  • Not subject to back up withholding
  • Not currently under an ID theft alert
  • Member of the credit union

Required information

Have the following information ready before you apply:

  • Driver’s license or state-issued ID
  • Social Security number
  • Current email address
  • Bank information
  • $1,000 minimum deposit

Funding options

Use one of the following methods to fund your account:

  • Debit card
  • ACH bank transfer

Benefits of a Communitywide Federal Credit Union CD

In addition to no monthly fees, you can expect the following benefits on your CommunityWide CD account:

  • High APY rates. CommunityWide has some of the highest rates for CDs. And if you find higher rates elsewhere, the bank will try to match them.
  • No automatic renewal. Choose whether to reinvest your funds in a new CD term or withdraw the funds.
  • Access to your interest. Choose to have your interest compound with your certificate, be deposited into another CommunityWide account, or transferred to an external bank account.

What to watch out for

Keep the following drawbacks in mind before you apply:

  • Limited membership. You’ll need to join CommunityWide to open a CD. To become a member, you must qualify through your association with a partner or as a family member, employee, retiree or donor member of one of more than 40 corporations.
  • High early withdrawal penalties. If you withdraw funds before your CD matures, you pay twice the amount of interest you would have made for the remainder of the term on your withdrawal amount. The penalty is subtracted from the withdrawal amount you request.

But if you do need to access your money before the CD matures, you’ll pay twice the amount of interest. If you think you’ll need to dip into your CD, look for one with a lower early withdrawal penalty.

Compare with other CDs

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CIT Bank Term CDs
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State Exchange Bank CD
Locally-owned independent community bank. FDIC insured. No fees.
Ponce Bank CD
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Compare up to 4 providers

How do I cash in my CD?

CommunityWide CDs don’t automatically renew, so every time your CD matures, you need to choose from the following options within the 10-day grace period:

  • Choose to renew your CD. Notify the credit union that you want to renew your CD and select the term for your new account.
  • Do nothing. If you fail to contact the credit union within the grace period, your money is deposited into the account you specified when you enrolled.
  • Withdraw or add funds. Choose to add funds to your CD account before renewing it or withdraw the funds. You need at least $1,000 in your CD to renew it.
  • Close your account. Withdraw your money and close the CD, or do nothing and your money is deposited into a separate account.

How to contact CommunityWide Federal Credit Union customer service?

Contact CommunityWide customer service in four ways:

  • Email
  • Fill out a comment form on the website
  • Visiting one of the Indiana branches
  • Call 1-800-729-6808 on Monday, Thursday and Friday from 9 a.m. to 5:30 p.m., Tuesday and Wednesday from 10 a.m. to 5:30 p.m. and Saturday from 9 a.m. to noon.

What other savings products does CommunityWide Federal Credit Union offer?

CommunityWide offers four other savings accounts:

  • Savings accounts. With a $5 minimum deposit, you can earn 0.50% APY either with their standard savings account, or a short-term, goal-driven account.
  • IRA accounts. CommunityWide offers both traditional and Roth IRA accounts, as well as IRA CD accounts. Each account earns 1.0% APY and requires a $2,000 minimum deposit.
  • Monthly Funds account. A high-rate account that only requires a $1 minimum deposit. You earn 0.70% APY, but you can only withdraw funds during the first five days of every month or you incur a withdrawal penalty equal to seven days of interest.
  • Quarterly Funds account. With a $1 deposit, you can earn 1% APY, but you can only withdraw funds during the first five days of every quarter or you incur a withdrawal penalty equal to 30 days’ interest.

Frequently asked questions

CDs ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

Read the full methodology of how we rate CDs.

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