The fifteen‐membered NNNNN macrocycle Me5PACP (Me5PACP=1,4,7,10,13‐pentamethyl‐1,4,7,10,13‐pentaazacyclopentadecane) stabilized the [CaH]+ fragment as a dimer with a distorted pentagonal bipyramidal coordination geometry at calcium. The hydride complex was prepared by protonolysis of calcium dibenzyl with the conjugate acid of Me5PACP followed by hydrogenolysis or treating with nOctSiH3 of the intermediate calcium benzyl cation. The calcium hydride catalyzed the hydrogenation and hydrosilylation of unactivated olefins faster than the analogous calcium complex stabilized by the twelve‐membered NNNN macrocycle Me4TACD (Me4TACD=1,4,7,10‐tetramethyl‐1,4,7,10‐tetraazacyclododecane). Kinetic investigations indicate that higher catalytic efficiency for the Me5PACP stabilized calcium hydride is due to easier dissociation of the dimer in solution when compared to the Me4TACD analogue.