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Connexus Credit Union Review

How does your bank stack up?

  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon

Pros:

  • Competitive interest rates
  • No monthly maintenance fees
  • ATM fee reimbursements
  • Variety of accounts available

Cons:

  • Must become a member
  • CDs have high opening required amounts
  • Tiered interest rates for money market
  • Requirements for checking interest rates

What You Need to Know

The interest rates for most Connexus accounts are competitive. Their CD and checking accounts offer rates competitive with other online accounts. These rates are much higher than typical brick and mortar bank rates. The Connexus saving accounts do not offer rates competitive with other online accounts.

The personal deposit accounts with Connexus do not have monthly maintenance fees. There are no required amounts to keep in accounts to avoid fees. The checking, money market, and savings accounts are completely free. The HAS account has a fee and the business checking account if your balance falls below $200.

Two Connexus checking accounts offer ATM fee reimbursement. ATM transactions are free at any Connexus ATM. The Xtraordinary checking allows for six free ATM withdrawals from non-Connexus ATMs. The MyRewards allows four ATM withdrawals. If you exceed this amount, Connexus will reimburse you up to $25 in surcharges each month.

Connexus Credit Union offers a good variety of personal deposit accounts. They offer three checking accounts, money market account, and CDs. They offer a traditional savings account, one for youth, and a holiday savings account. Each of these accounts can open online.

To open Connexus accounts, you must first become a member of the credit union. Employees of certain businesses or residents of certain cities qualify to become members. Relatives of members qualify. You can also become a member with a one-time $5 donation to the Connexus Association. Just because you apply does not mean you qualify to become a member. It can take up to three business days to hear if you are approved or not.

The CD accounts through Connexus Credit Union all have high opening balances. Each of the CD terms requires $5,000 to open. Their CDs include 12, 24, 36, 42, or 60-month terms. There are no fees for these CDs unless you withdraw the money before the CD reaches maturity.

The Connexus money market account has tiered interest rates. To earn the most competitive rates requires an account balance of $100,000. Balances below this amount still earn interest, just not the most competitive rate.

The Connexus checking accounts have set requirements to earn competitive rates. That includes eStatements, one direct deposit, and one online bill payment. You must also make a set amount of debit card transactions each month. If you meet these requirements, you earn the competitive rates. If you do not meet them, you are not charged a fee, you just do not earn the best rates.

Cool Things

Financial Wellness

The Connexus Credit Union website offers a financial wellness section. Here you can get financial advice from experts at GreenPath Financial Wellness. They offer courses on budgeting, credit reports and scores, and home buying. Someone can help you set up a debt management plan. You can read articles on a variety of financial topics. Their website offers financial calculators and a blog.

History

Connexus Credit Union is a member-focused company. They offer personal deposit accounts and lending options to their members. There are online options to open accounts if you do not live by a local branch location.

Connexus has more than 320,000 members from across the United States. Their assets are more than $1.95 billion. They offer branch locations in four different states and employ more than 300 people.

Awards and Recognition

  • Top Credit Union of 2018 by Nerdwallet
  • 2018 Best Credit Union Runner-up by Kiplinger
  • Five-Star Rating from BauerFinancial

Giving Back

In 2017, Connexus Credit Union and the Connexus Association donated $25,000. The money went to help those affected by the recent hurricanes. They also worked with the Red Cross to have a donation site through their website. Connexus employees contacted members to help them resolve their financial issues.

Connexus donated $2,000 to the Never Forgotten Honor Flight association. Through this organization, veterans fly to Washington D.C. to see the war memorials. This organization started in 2009.

Frequently Asked Questions

Is Connexus Credit Union FDIC insured?

Yes. Connexus Credit Union is backed by the National Credit Union Association. The NCUA is an agency of the United States government. It protects funds deposited in credit unions, up to $250,000 per customer, per credit union. The money deposited in NCUA insured credit unions means money is backed by the full faith and credit of the United States government.

How do I access my money?

Access your money through debit or ATM cards, checks, or electronic transfers. You can access your money through bill pay or person to person payments. Connexus also offers Apple Pay, Samsung Pay, and Android Pay.

Does Connexus Credit Union offer mobile banking?

Yes. With the mobile app, you can check account balances, transfer money, and deposit checks. You can pay bills and send money to others with the Person to Person payments.

Is Connexus Credit Union free?

Yes. There are no monthly maintenance fees for any personal deposit accounts. The checking, savings, and money market accounts are free. The only accounts with fees are an HSA account and a business checking account.

Is Connexus Credit Union a good bank?

The interest rate on Connexus checking accounts and CDs are competitive. They offer online accounts with no monthly maintenance fees. There are requirements to earn the competitive checking account rates. Only a few business accounts are available.

Is Connexus Credit Union secure online?

Connexus Credit Union offers security measures that comply with federal law. Their computers have safeguards, and their buildings and files are secure. They limit the information employees can see.

Does Connexus Credit Union offer competitive interest rates?

Yes. The checking account and CDs offer competitive rates. The savings account rates are not competitive with other online accounts. The money market account offers competitive rates, but the rates are tiered. To earn the most competitive rate requires a balance of $100,000.

Can I use Connexus Credit Union for my business accounts?

Connexus Credit Union offer a business checking account and business credit cards. No other business accounts are available.

How is Connexus online banking different from the online banking my bank offers?

The interest rates for the accounts are much higher than typical bank rates. You can access everything for your account online.

Do Connexus Credit Union checking accounts pay interest?

Yes. Two of the Connexus Credit Union checking accounts earn interest. To earn interest, you must meet the set requirements. Those include having eStatements, direct deposit, and online bill pay. You must also have a set number of debit card transactions. If you meet those requirements, the interest rates are competitive.

How do I reach customer service?

Reach customer service through phone, email, mail, online chat, or fax. You can follow Connexus on Facebook, LinkedIn, or YouTube.

Does Connexus Credit Union offer bill pay?

Yes. Bill pay is available with Connexus checking accounts. It is free if you use the service at least once every 90 days. If you do not use it that often, there is a fee of $5.95 each month.

Can I deposit cash?

Yes, at a local branch location.

How long do transfers take?

Deposits made before a set time fund the same business day. After the set time, deposits will fund the next business day. If the full deposit cannot fund on the first business day, the first $200 of the deposit will be. The rest of the amount will fund the next business day.

Can I sign up for direct deposit to Connexus Credit Union accounts?

Yes. Money can be directly deposited into Connexus Credit Union accounts. Having a direct deposit helps you qualify for the highest interest rates on checking accounts.

Credit Union Contact Information

PO Box 8026 Wausau, WI 54402-8026
800-845-5025

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