At a glance

4.2

Bankrate Score

CDs

Checking

Savings

MMA

Overview

Connexus Credit Union could meet the needs of consumers looking for low-fee banking or an interest checking account with a fairly competitive yield. However, those looking for a high-yield savings account or CDs that require a low minimum deposit should look elsewhere.

Highlights

Free Checking
Highly Rated App

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Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

Member FDIC

Savings Account

4.30

%

APY

APY, or annual percentage yield, is the yearly return on a bank or investment account.

As of 4/19/2024

Bankrate Savings rating = 4.9/5

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

$1

Min. balance for APY

View offer

Promoted offer:

Member FDIC

Savings Account

5.00

%

APY

APY, or annual percentage yield, is the yearly return on a bank or investment account.

As of 4/19/2024

Bankrate Savings rating = 4.9/5

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

$0

Min. balance for APY

View offer

Promoted offer: Plus, no monthly fees and unlimited free external transfers

Member FDIC

Savings Account

4.35

%

APY

APY, or annual percentage yield, is the yearly return on a bank or investment account.

As of 4/19/2024

Bankrate Savings rating = 4.9/5

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

$0

Min. balance for APY

View offer

Promoted offer:

Overall

Connexus Credit Union members have access to more than 5,000 branches across the country, and accounts can also be opened online. Members can choose from a full range of accounts including certificates of deposit (CDs), free and interest-bearing checking, as well as savings and money market accounts. While some rates are well above national averages, yields for the savings account and some money market tiers are not competitive.

Pros

The credit union is easy to join, including for consumers outside of the Midwest region.
Minimum deposit requirements for the savings and checking accounts are either low or nonexistent.
No monthly service or maintenance fees are charged.
It offers a highly rated mobile app that includes bill pay, mobile check deposit and more.

Cons

The yield is relatively low on savings accounts, as well as on money market accounts with a balance of less than $20,000.
The minimum deposit requirement for traditional CDs is fairly steep.

Connexus Credit Union banking products

2.9

/5

See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:

0.10%

1/5

Minimum balance to earn interest:

$100.00

4/5

Monthly service fee:

$0.00

5/5

Minimum balance to avoid fee:

$0.00

5/5

Access to funds:

Great

5/5

FEATURES

0.10% APY

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of 4/19/2024

$100 minimum deposit to open

Connexus Credit Union savings overview

Opening a savings account is required to maintain membership at Connexus Credit Union. The account charges no monthly fee, and the minimum deposit is just $5. The annual percentage yield (APY) is on par with the national average, but well below what the most competitive banks and credit unions offer. To earn interest, a minimum daily balance of $100 must be maintained.

In addition to the basic savings account, Connexus offers a holiday club account that pays the same yield.

Pros

No monthly fees are charged.
A low minimum deposit is needed to open the account and earn the listed APY.
The account comes with a contactless Visa debit card.

Cons

The savings account yield is low compared to many other banks.
A $5 inactivity fee will be charged to accounts with no activity in 12 months and a month-end balance of less than $100.

Rate history for Connexus Credit Union's Savings account

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Connexus Credit Union

APY

National average APY

How do we get this data?

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Connexus Credit Union

APY

National average APY

How do we get this data?

Compare Offer

Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

Member FDIC

Savings Account

4.30

%

APY

APY, or annual percentage yield, is the yearly return on a bank or investment account.

As of 4/19/2024

Bankrate Savings rating = 4.9/5

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

$1

Min balance for APY

View offer

Promoted offer:

4.3

/5

See methodology Compare CD rates

SCORE BREAKDOWN

APY offering:

5.01% - 1 yr

5/5

Minimum deposit:

$5,000.00

3/5

Range of term lengths:

1 yr – 5 yrs

4/5

Early withdrawal penalty:

Good

4/5

Offer no-penalty or bump-up CDs:

No

0/5

Offer IRA CDs:

Yes

5/5

FEATURES

3.51% – 5.01% APY

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of 4/19/2024

$5,000 minimum deposit to open

1 year – 5 years

Connexus Credit Union CD overview

Connexus offers six traditional CDs with terms ranging from one year to five years. Rates for these CDs are competitive, but each requires a minimum opening deposit of $5,000. Higher yields are available for those who deposit $100,000 or more.

A bump-up CD is also available, which allows you to bump the rate once during its two-year term.

Pros

The CDs earn competitive rates.
Connexus offers a decent range of term lengths.
A bump-up CD offers the option to increase your rate once during the term.

Cons

Some savers may find the $5,000 minimum deposit unaffordable.

Rate history for Connexus Credit Union's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Connexus Credit Union

APY

National average APY

Term length

How do we get this data?

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Connexus Credit Union

APY

National average APY

Term length

How do we get this data?

4.4

/5

See methodology Compare MMA rates

SCORE BREAKDOWN

APY offering:

4.26%

4/5

Minimum balance to earn interest:

$1,000.00

4/5

Monthly service fee:

$0.00

5/5

Minimum balance to avoid fee:

$0.00

5/5

Check writing:

Yes

5/5

Debit/ATM access:

Good

4/5

Connexus Credit Union money market overview

The Connexus money market account offers tiered APYs, providing savers who have bigger balances with higher yields. Account holders must deposit at least $1,000 to earn any APY (which is on par with the national average), and balances of $20,000 or more are rewarded with a competitive APY.

Checks are included with the Connexus money market account. Making more than four withdrawals in a month results in a $6 fee for each additional withdrawal.

Pros

The minimum opening deposit is manageable.
Check writing is available.

Cons

A significant balance is needed in order to earn a competitive yield.
After four withdrawals have taken place in a month, a $6 fee is charged for each additional one.

4.6

Bankrate Score

Compare top checking rates

Connexus Credit Union checking overview

Connexus Credit Union has a few checking account options: a noninterest-bearing Innovative checking account (the product scored for this review), an interest-bearing Xtraordinary checking account and a teen checking account for those who are 10 to 17 years old. None of the accounts charge a monthly fee.

The Innovative account is the credit union’s basic checking account that requires no minimum balance. You’ll have access to more than 67,000 fee-free ATMs with no reimbursement for any surcharges resulting from use of out-of-network ATMs.

With the Xtraordinary checking account, there is an opportunity to qualify for rebates for ATM surcharge fees. But to earn interest, account holders must enroll in e-statements and spend at least $400 or make 15 purchases using a debit card per month.

Pros

There’s no minimum deposit to open a checking account, but each Connexus member is required to open a regular savings account and deposit at least $5.
No monthly maintenance fees are charged for any of the checking accounts.
Xtraordinary checking customers can get ATM surcharge fees refunded up to $25 a month.

Cons

Xtraordinary account holders must meet certain criteria to earn interest.
Accounts with no activity in 90 days and a month-end balance of less than $100 will be charged a $5 fee.

Compare Offer

Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

Member FDIC

Checking Account

0.50

%

APY

APY, or annual percentage yield, is the yearly return on a bank or investment account.

As of 4/19/2024

Bankrate Checking rating = 4.9/5

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

$0

To open

$0

To avoid fees

View offer

Compare more: Bankrate's best CD rates

Bank fees

Fee	Charged?
Overdraft fee	$4
Non-sufficient funds fee	$4
Monthly maintenance fee	None
Out-of-network ATM fee	None
Excessive transaction fee	$6
Inactivity fee	$5

Find out: Tips to avoid common bank fees

Customer experience

Physical presence. Connexus Credit Union operates several branch locations in Wisconsin, Illinois and Minnesota. There are also more than 5,000 shared branches available to members and more than 67,000 surcharge-free ATMs accessible through the Co-op and MoneyPass networks.

Customer support. Members needing assistance can call the credit union Monday through Wednesday and Friday between 7 a.m. and 7 p.m., and Thursday from 9 a.m. to 7 p.m., as well as on Saturdays between 8 a.m. and 1 p.m, Central time. A live chat option is also available online.

Mobile app. Connexus offers a highly rated mobile app that allows for mobile check deposit and bill pay. It also allows you to track your spending, savings goals and budget all in one place. A mobile app called Connexus Jr. is available to help teach kids up to age 12 about money management. Members do not have access to Zelle or other peer-to-peer payment services.

About Connexus Credit Union

Connexus Credit Union offers products and services to more than 440,000 members across the country. It’s headquartered in Wausau, Wisconsin, and was founded in 1935. The credit union operates a handful of Connexus branches in the Midwest, and members can also make transactions at more than 5,000 additional branches of other credit unions in its network.

Membership at Connexus depends on where you live or work and whether you’re associated with certain groups. Anyone who doesn’t live within one of the communities Connexus serves can join by becoming a member of the Connexus Association, a nonprofit provider of grants, scholarships and resources to promote financial literacy and education.

How does Connexus Credit Union compare to other banks?

Connexus Credit Union vs. Alliant Credit Union

Both Connexus and Alliant offer a large swath of consumer banking products, including credit cards, savings accounts, certificates of deposit and checking accounts. However, Connexus offers one extra type of deposit account: a money market account.

Alliant Credit Union offers higher yields for its savings accounts and CDs, and you can open a CD with just $1,000, compared to the $5,000 requirement at Connexus. However, Connexus offers a much higher yield on its interest-bearing checking account.

Learn more: The best credit unions of 2024

Connexus Credit Union FAQs

Connexus Credit Union is best for consumers looking for a credit union that offers deposit accounts for little-to-no fees and an interest-bearing checking account with a competitive yield.
Yes. Connexus Credit Union was established in 1935 and has been NCUA insured since 1985.
There’s a $5 per month inactivity fee for accounts with no activity in 90 days (or 12 months for the savings account) and a month-end account balance under $100.
Connexus’ mobile deposit limit is $2,500.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Date	Connexus Credit Union APY	National average APY
04/16/2024	0.10%	0.58%
04/09/2024	0.10%	0.58%
04/02/2024	0.10%	0.58%
03/26/2024	0.25%	0.57%
03/19/2024	0.25%	0.57%
03/12/2024	0.25%	0.57%
03/05/2024	0.25%	0.57%
02/27/2024	0.25%	0.58%
02/20/2024	0.25%	0.58%
02/13/2024	0.25%	0.58%
02/06/2024	0.25%	0.58%
01/30/2024	0.25%	0.58%
01/23/2024	0.25%	0.58%
01/16/2024	0.25%	0.58%
01/09/2024	0.25%	0.58%
01/02/2024	0.25%	0.58%
12/26/2023	0.25%	0.57%
12/12/2023	0.25%	0.57%
12/05/2023	0.25%	0.57%
11/28/2023	0.25%	0.60%
11/21/2023	0.25%	0.60%
11/14/2023	0.25%	0.60%
11/07/2023	0.25%	0.60%
10/31/2023	0.25%	0.58%
10/24/2023	0.25%	0.58%
10/17/2023	0.25%	0.58%
10/10/2023	0.25%	0.58%
10/03/2023	0.25%	0.58%
09/26/2023	0.25%	0.57%
09/19/2023	0.25%	0.57%
09/12/2023	0.25%	0.57%
09/05/2023	0.25%	0.57%
08/29/2023	0.25%	0.54%
08/22/2023	0.25%	0.54%
08/15/2023	0.25%	0.54%
08/08/2023	0.25%	0.54%
08/01/2023	0.25%	0.54%
07/25/2023	0.25%	0.54%
07/18/2023	0.25%	0.54%
07/11/2023	0.25%	0.54%
07/04/2023	0.25%	0.54%
06/27/2023	0.25%	0.49%
06/20/2023	0.25%	0.49%
06/13/2023	0.25%	0.49%
06/06/2023	0.25%	0.49%
05/30/2023	0.25%	0.46%
05/23/2023	0.25%	0.46%
05/16/2023	0.25%	0.46%
05/09/2023	0.25%	0.46%
05/02/2023	0.25%	0.46%
04/25/2023	0.25%	0.43%

Date	Connexus Credit Union APY	National average APY
04/16/2024	3.56%	1.42%
04/09/2024	3.56%	1.42%
04/02/2024	3.56%	1.42%
03/26/2024	3.56%	1.43%
03/19/2024	3.56%	1.43%
03/12/2024	3.56%	1.43%
02/27/2024	3.56%	1.42%
02/20/2024	3.56%	1.42%
02/13/2024	3.56%	1.42%
02/06/2024	3.56%	1.42%
01/30/2024	3.56%	1.43%
01/23/2024	3.56%	1.43%
01/16/2024	3.56%	1.43%
01/09/2024	3.56%	1.43%
01/02/2024	3.56%	1.43%
12/26/2023	3.56%	1.43%
12/12/2023	3.56%	1.43%
12/05/2023	4.16%	1.43%
11/28/2023	4.16%	1.45%
11/21/2023	4.16%	1.45%
11/14/2023	4.16%	1.45%
11/07/2023	4.16%	1.45%
10/31/2023	4.16%	1.46%
10/24/2023	4.16%	1.46%
10/17/2023	4.16%	1.46%
10/10/2023	4.16%	1.46%
10/03/2023	4.16%	1.46%
09/26/2023	4.16%	1.43%
09/19/2023	4.16%	1.43%
09/12/2023	4.16%	1.43%
09/05/2023	4.16%	1.43%
08/29/2023	4.16%	1.38%
08/22/2023	4.16%	1.38%
08/15/2023	4.16%	1.38%
08/08/2023	4.16%	1.38%
08/01/2023	4.16%	1.38%
07/25/2023	4.16%	1.35%
07/18/2023	4.16%	1.35%
07/11/2023	4.16%	1.35%
07/04/2023	4.16%	1.35%
06/27/2023	4.16%	1.33%
06/20/2023	4.16%	1.33%
06/13/2023	4.16%	1.33%
06/06/2023	4.16%	1.33%
05/30/2023	4.16%	1.30%
05/24/2023	4.16%	1.30%
05/23/2023	4.16%	1.30%
05/16/2023	4.16%	1.30%
05/09/2023	4.16%	1.30%
05/02/2023	4.16%	1.30%
05/01/2023	3.91%	1.30%
04/25/2023	3.61%	1.30%

Connexus Credit Union Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

Connexus Credit Union banking products

Connexus Credit Union savings overview

Pros

Cons

Rate history for Connexus Credit Union's Savings account

Connexus Credit Union CD overview

Pros

Cons

Rate history for Connexus Credit Union's CD accounts

Connexus Credit Union money market overview

Pros

Cons

Connexus Credit Union checking overview

Pros

Cons

Bank fees

Customer experience

About Connexus Credit Union

How does Connexus Credit Union compare to other banks?

Connexus Credit Union vs. Alliant Credit Union

Connexus Credit Union FAQs

Who is Connexus Credit Union best for?

Is Connexus Credit Union safe?

What is the inactivity fee for Connexus Credit Union?

What is the mobile deposit limit for Connex Credit Union?

Review methodology

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