-
Financial Rates:
3.0
-
Customer Service:
5.0
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- Variety of personal deposit accounts
- Low opening requires amounts
- Business accounts available
- Online CDs offers competitive rates
Cons:
- Cannot open all accounts online
- Tiered interest rates for MMA
- Low interest rates
- High yield accounts have high opening sum
-
Financial Rates:
4.0
-
Customer Service:
5.0
-
Website Experience:
4.5
-
Bank Fees:
5.0
Pros:
- Competitive interest rates
- No monthly maintenance fees
- Free ATMs and fee reimbursements
- Variety of accounts available
Cons:
- Must become a member of credit union
- CDs have high opening required amounts
- Tiered interest rates for money market
- Requirements for checking interest rates
Home Savings offers a variety of personal deposit accounts. They offer interest earning and free checking accounts. They offer a checking account for students and those over 50 years old. They offer a holiday savings account and savings accounts for kids and youth. Home Savings offers an online savings account and CDs. The CDs range from 28-days to five-year terms.
Most accounts have low opening requires amounts. The online savings account requires $50 to open. The holiday savings and youth savings accounts require $10 to open. Most checking accounts requires $25 to open. The interest earning checking does require $100 and must be opened in a branch location. The regular CDs require $500 to open.
Home Savings offers a variety of business accounts. They offer checking and savings accounts for small or commercial businesses. Lending options, money market accounts, and deposit services are also offered for businesses. You must visit a branch location to open business accounts.
Home Savings offers two CDs, for new investments, with competitive rates. The terms are an 18-month and 36-month CD. Money deposited in these CDs cannot be from other accounts in Home Savings accounts. The interest rates are competitive with other online CD accounts. These CDs require $500 to open and can be opened online.
Not all Home Savings accounts can open online. Some accounts require visiting a branch location, including the interest-earning checking account. Visit a branch to open the holiday savings account and savings accounts for kids.
The MMA and the Platinum savings accounts have tiered interest rates. These accounts require a $100,000 balance to earn the best rates. Balances lower than $100,000 still earn interest, just lower rates.
Most Home Savings accounts do not offer competitive interest rates. Some accounts have tiered interest rates. Other accounts have interest rates similar to typical brick and mortar bank rates. Only a few accounts offer rates competitive with online accounts.
The high yield Home Savings accounts have high required opening amounts. The Platinum savings account requires $5,000 to open. The money market account requires $10,000 to open. The money market account can be opened online. To open the Platinum Savings requires a branch location.
The interest rates for most Connexus accounts are competitive. The CDs and checking accounts offer rates competitive with other online accounts. The HSA and money market account also offer competitive rates. These rates are higher than typical brick-and-mortar bank rates. The Connexus regular saving account does 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 HSA account has a fee and the business checking account does as well, if your balance falls below $200.
The Connexus Xtraordinary checking account offers ATM fee reimbursements. ATM transactions are free at any Connexus, CO-OP, and MoneyPass ATMs. The Xtraordinary checking allows up to $25 in ATM fee refunds. You must meet the account requirements to earn the ATM refund.
Connexus Credit Union offers a good variety of personal deposit accounts. They offer:
- Xtraordinary checking account
- Teen checking account
- Money market account
- Savings account
- CD terms of 12, 24, 36, 48, and 60-months
- Holiday savings account
- Health savings accounts
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 also qualify. You can 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 receive approval.
The CDs 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. The interest rates are competitive for each term length.
The Connexus money market account has tiered interest rates. To earn the most competitive rates requires an account balance of $100,000. Balances below $100,000 still earn interest, just not the most competitive rate.
The Connexus checking accounts have requirements you must meet to earn competitive rates. Those include eStatements, one direct deposit, and one online bill payment each month. 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, but you do not earn the best rates.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.