Connexus Credit Union

Connexus Credit Union Reviews

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About Connexus Credit Union

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Based in Wisconsin, Connexus Credit Union is a national institution offering a variety of financial products and services. Members can open savings and checking accounts with no monthly fees, as well as share certificates with competitive interest rates. Connexus also offers mortgage and auto loans and provides access to over 5,000 shared branches and over 67,000 surcharge-free ATMs nationwide.

Pros & Cons

  • No monthly savings and checking account fees
  • Competitive APYs on share certificates
  • Out-of-network ATM surcharge rebates
  • Low APY for savings accounts
  • Membership required

What is Connexus Credit Union?

Connexus Credit Union is a not-for-profit financial institution that offers a wide range of financial products and services to its members. It manages over $5.2 billion in assets and has over 670 employees.

The credit union is known for offering several promotions and specials. For instance, Connexus members can get up to $700 off mortgage closing costs and a $200 cash bonus for taking out a personal loan (as of publication).

Because Connexus is member-owned and emphasizes digital banking, it’s able to offer competitive rates and lower fees than many traditional banks. It’s also insured by the National Credit Union Administration (NCUA), which means members’ deposits are federally insured up to $250,000.

How does Connexus Credit Union work?

Connexus Credit Union operates under a not-for-profit model, which means that any profits generated are reinvested back into the institution to benefit its members. It serves over 445,000 members across all 50 states. Membership is open to anyone who makes a one-time $5 donation to the Connexus Association.

Members can open various types of accounts, including checking, savings, money market and share certificate accounts.

One notable product from Connexus Credit Union is its high-yield checking account, which offers an interest rate that is much higher than what most traditional banks’ checking accounts offer. This account also has no monthly fees and provides free in-network ATM access nationwide.

Connexus Credit Union products and services

With Connexus Credit Union, members can enjoy access to these products and services:

Checking accounts
Connexus Credit Union offers three different checking account options:
  • The Xtraordinary Checking account earns up to 1.75% annual percentage yield (APY) when you enroll in e-statements and use the account’s debit card to make at least 15 purchases or spend at least $400 each month. It also comes with $25 in monthly ATM rebates.
  • The Innovative Checking account is a basic account that comes with free overdraft transfers from a linked account and a free debit card, but no APY.
  • The Teen Checking account earns 2% APY on the first $1,000 in your teen’s account and from 0.43% to 2% APY on balances over that (as of publication).

Connexus also has a tax-advantaged Health Savings Account (HSA) for medical expenses. It’s open to anyone with a high-deductible health plan, as defined by the IRS.

Savings accounts
With Connexus Credit Union, you’ll find two types of savings accounts:
  • The Member Share Savings account is a basic savings account that requires a minimum daily balance of $100 to earn 0.25% APY (as of publication).
  • The Holiday Club Savings account allows members to save money throughout the year for holiday expenses.

The credit union also has an educational app called Connexus Jr. , which helps teach kids about spending, saving and giving. It also allows parents to assign chores and pay allowances.

Money market accounts
Connexus Money Market Accounts earn anywhere from 0.25% to 4.51% APY (as of publication), depending on your balance. The accounts require a $1,000 minimum opening deposit, and you must maintain a minimum $1,000 balance to earn interest. These accounts have no monthly fee and come with up to four free withdrawals per month.
Share certificates
Connexus offers share certificates, bump-up share certificates and jumbo share certificates with varying term lengths and high yields. These certificates guarantee returns and offer up to 5.16% APY (as of publication).

Members can fund their share certificates through ACH, wire transfer, check or internal transfer, and dividends are compounded and credited quarterly. Jumbo certificates require a $100,000 minimum deposit. All other certificates require at least $5,000.

Credit cards
Connexus Credit Union offers eight different personal credit cards to choose from:
  • Everyday Rewards+ Card: Earn up to four points per $1 spent on eligible purchases and a bonus of 15,000 points ($150 value) when you spend $500 within the first 90 days of account opening.
  • Platinum Card: Take advantage of a 0% introductory annual percentage rate (APR) for purchases and balance transfers made within the first 18 billing cycles.
  • Max Cash Preferred Card: Earn 5% cash back on up to $2,000 in quarterly purchases made within two spending categories of your choice.
  • Travel Rewards+ Card: Earn up to four points per $1 spent on eligible purchases and a bonus of 25,000 points ($250 value) when you spend $2,000 within the first 120 days of account opening.
  • Reserve Rewards+ Card: Earn up to six points per $1 spent on eligible purchases and a bonus of 50,000 points ($500 value) when you spend $4,500 within the first 90 days of account opening.
  • College Real Rewards Card: Earn 1.5 points for every $1 spent on eligible purchases.
  • Max Cash Secured Card: Earn 5% cash back on up to $2,000 in quarterly purchases made within two spending categories of your choice. It’s a great card for those who want to earn cash back while improving their credit score.
  • Secured Card: Check your credit score for free while you gradually build your credit.

Connexus also has four business credit cards to choose from.

Connexus Credit Union offers a variety of loans to help members achieve their financial goals. The loans include:
  • New and used auto loans
  • Recreational vehicle (RV) loans
  • Personal loans
  • Home equity loans
  • Mortgage loans
  • VA home loans
  • Student loans

Connexus Credit Union fees

Connexus doesn’t charge any monthly fees for its checking or savings accounts. It doesn’t charge its members fees when they use out-of-network ATMs, and its Xtraordinary Checking account comes with up to $25 per month in rebates for fees charged by the out-of-network ATMs themselves.

Connexus does, however, charge the following fees:

  • Up to 1.5% for international ATM and debit transactions
  • $5 per month for account inactivity
  • $6 per money market account withdrawal in excess of four withdrawals per month
  • $4 for paid overdrafts, up to two times per day
  • $4 for each returned overdraft
  • $9 for returned deposits
  • $9 for stop payment requests
  • $20 for outgoing domestic wire transfers
  • $50 for outgoing international wire transfers

Connexus Credit Union FAQ

How much money can I deposit into my Connexus bank account?

The daily limit for Connexus bank account deposits is typically $2,500. However, it may vary depending on your account.

Where is Connexus available?

Connexus has brick-and-mortar branches in Illinois, Minnesota and Wisconsin, but its services and products are available to residents in all 50 states. It’s also part of the Co-op Shared Branch network, which gives members the option to visit the brick-and-mortar branches of other credit unions near them to get banking help.

Who can join Connexus Credit Union?

Membership in Connexus Credit Union is open to anyone who lives in certain areas of Illinois, Minnesota, Ohio or Wisconsin. Membership is also open to current and former employees and students of select companies and schools, as well as members of certain organizations. Anyone who makes a $5 donation to the Connexus Association can also become a member.

How can I contact Connexus Credit Union?

Connexus Credit Union’s customer service is available from 7 a.m. to 7 p.m. on Monday, Tuesday, Wednesday and Friday; from 9 a.m. to 7 p.m. on Thursday; and from 8 a.m. to 1 p.m. on Saturday (Central Time). You can reach customer service by calling, starting a live chat, emailing or scheduling a consultation. Connexus also has physical branches located in Illinois, Minnesota and Wisconsin for in-person banking needs.

Is Connexus Credit Union legit?

Connexus Credit Union is a legitimate credit union. Deposits held in Connexus Credit Union accounts are insured by the NCUA.

Connexus Credit Union is best for individuals who are looking for money market accounts and share certificates with high APYs, as well as for those who prefer online banking and mobile app services over in-person banking.

However, some of its accounts require minimum balances or have other activity requirements to earn competitive yields or avoid fees, so it's important to review a Connexus account’s details before opening it.

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Connexus Credit Union Company Information

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Connexus Credit Union