Connexus Credit score Union: 2023 Banking Evaluate


Based mostly in Wisconsin, Connexus Credit score Union is a nationwide credit score union with few charges and better than common annual share yields on its checking and CD accounts. This credit score union has 16 branches throughout Wisconsin, Illinois and Minnesota and supplies entry to greater than 5,600 shared branches throughout the nation. 

Connexus Credit Union

Connexus Credit score Union

To develop into a member, you may must make a one-time $5 donation — until you qualify by means of your neighborhood, employer or one other group. However this payment could also be worthwhile for entry to aggressive APYs.

What we like

  • Excessive annual share yield for checking accounts and CDs
  • Good digital banking expertise
  • Spectacular digital assistant device
  • Interactive on-line device to show youngsters about cash
  • No upkeep charges
  • Low barrier to membership (a one-time $5 donation when you’re not in any other case eligible)

What we do not like

  • Excessive minimal stability necessities for increased yield cash market accounts
  • Should meet debit card necessities to qualify for high-yield checking charges
  • Lackluster financial savings account

Who’s Connexus suited to?

Connexus is price contemplating in order for you a aggressive APY for a checking account or CD. This credit score union has only a few charges, so it is also a good selection when you’re seeking to cut back your month-to-month upkeep charges. 

Checking account evaluation

Connexus affords two most important checking account packages for grownup members, together with a checking account for youngsters. Neither account has upkeep charges or a minimal stability requirement. The Xtraordinary account is the stand-out selection between the 2 as a result of it pays 1.75% APY. As well as, since Connexus is a part of the Co-op Shared Department Community and the MoneyPass Community, you may have entry to greater than 67,000 ATMs. Members with Xtradordianry checking accounts will also be reimbursed for as much as $25 for out-of-network ATM charges.

Checking account options

Checking account APY APY construction Necessities to earn APY Charges
Xtraordinary Checking 1.75% 1.75% APY on as much as $25,000; then 0.25% on all different funds 15 debit card purchases or $400 in complete debit card spending None
Progressive Checking None N/A N/A None
Teen 2.00% 1.985% APY on as much as $1,000; quantities above $1,000 will earn 0.25% None None

What we like

  • Earn up 1.75% APY on as much as $25,000 (0.25% on further funds) 
  • No minimal stability requirement
  • No account charges
  • $25 rebate on out-of-network ATM surcharges every month

What we do not like

  • Should meet debit card buy necessities to earn 1.75% yield (15 purchases or $400 in spending)
  • Not all checking accounts earn curiosity

Financial savings account evaluation

The principle financial savings account providing at Connexus pays 0.25% APY with no most stability threshold. You will not begin incomes curiosity till you’ve gotten no less than $100 in your account, nonetheless. This financial savings account is usually fee-free, however does cost a $5 month-to-month inactivity payment if you haven’t any transactions for 12 months. Whereas the APY for this account is decrease than different credit score unions and banks, Connexus does additionally supply a separate Vacation Membership financial savings account. This account additionally earns 0.25% APY and allows you to make deposits yr spherical — then helps you to entry your funds on October 1. 

Financial savings account options

  • 0.25% APY
  • $100 minimal stability requirement
  • $5 month-to-month inactivity payment if there is no exercise in your account for 12 months or longer

What we like

  • Low minimal stability requirement ($100) to earn curiosity
  • Skill to open a number of accounts for particular targets, together with a vacation account which helps you to save year-round and entry your funds on October 1

What we do not like

  • Comparatively low financial savings fee 
  • $5 month-to-month inactivity payment

CD account evaluation

Connexus affords aggressive charges for certificates of deposit. You may earn the very best APYs on shorter-term CDs spanning from 12 to 24 months, making Connexus a great financial institution to retailer cash for short-term financial savings targets. The minimal deposit requirement is $5,000, which is on par with many different banks, however be careful for early withdrawal charges. You may forfeit 90 days of curiosity on 1-year CDs, 180 days of curiosity for CDs higher than 1 yr however lower than 5 and 12 months of curiosity on 5-year CDs.

CD account options

CD time period APY
12-moth 4.51%
15-month 4.85%
24-month 4.01%
36-month 3.71%
48-month 3.51%
60-month 3.51%

What we like

  • Aggressive short-term CD charges

What we do not like

  • Curiosity compounds quarterly
  • $5,000 minimal deposit
  • Solely affords conventional CDs with penalties for early withdrawal

Cash market account

Connexus does supply a cash market account — nevertheless it’s not notably helpful until you intend to maintain lots of of hundreds of {dollars} on this account. It affords decrease yields than its checking account, in some instances, and a high-yield financial savings account at one other financial institution can give you a greater APY with out the excessive deposit requirement. Whereas the tiered fee construction goes as much as 4.01% APY, you’d must deposit $1 million or extra to realize this yield. You are additionally required to deposit no less than $1,000 to open an account — and in case your stability falls under $1,000, you will not earn any curiosity. 

Cash market account options

Account stability APY
$0–$999 0%
$1,000–$19,999.99 0.25%
$20,000–$99,999.99 2.01%
$100,000–$249,999.99 2.51%
$250,000—$499,999.99 3.01%
$500,000–$999,999.99 3.41%
$1 million and above 4.01%

What we like

  • Respectable APYs
  • As much as 4 free withdrawals every assertion interval

What we do not like

  • Curiosity is compounded month-to-month 
  • Excessive charges require steep deposits
  • You will not earn curiosity on in case your stability is underneath $1,000

The expertise at Connexus Credit score Union

There are a variety of the way to qualify for membership at this credit score union, however the best choice is to donate $5 to the Connexus Basis. Whereas credit score unions are inclined to lag behind huge banks on the subject of digital innovation, Connexus is retaining tempo with a number of the monetary giants. Members can use Connexus Help, a voice-activated assistant, by way of Amazon’s Alexa and Google Assistant, together with a highly-rated cell app.

Overdraft charges at Connexus Credit score Union

If you happen to overdraw your account, Connexus can cost you a $4 overdraft payment twice every day. Nonetheless, you may also hyperlink your financial savings account to your checking account to mechanically switch funds that can keep away from these charges in case your stability hits zero.

The way to contact Connexus Credit score Union’s customer support

Members can name the credit score union’s customer support division at 1-800-845-5025 throughout the next enterprise hours:

  • Monday: 7 a.m. – 7 p.m. CT
  • Tuesday: 7 a.m. – 7 p.m. CT
  • Wednesday: 7 a.m. – 7 p.m. CT
  • Thursday: 9 a.m. – 7 p.m. CT
  • Friday: 7 a.m. – 7 p.m. CT
  • Saturday: 8 a.m. – 1 p.m. CT

There’s additionally a web-based chat function on the Connexus web site or you may submit a request by means of a web-based kind to obtain a response inside one enterprise day.

About Connexus Credit score Union

Connexus Credit score Union relies in Wausau, Wisconsin, and the corporate has greater than 443,000 members throughout the US. The credit score union is a part of the Co-op Shared Department Community and the MoneyPass Community, which permit members to make use of greater than 5,600 branches and greater than 67,000 ATMs.

Supply hyperlink


Please enter your comment!
Please enter your name here