Connexus Credit Union Review 2024
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
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
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.2/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
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
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The credit union is easy to join, including for consumers outside of the Midwest region.
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Minimum deposit requirements for the savings and checking accounts are either low or nonexistent.
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No monthly service or maintenance fees are charged.
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It offers a highly rated mobile app that includes bill pay, mobile check deposit and more.
Cons
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The yield is relatively low on savings accounts, as well as on money market accounts with a balance of less than $20,000.
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The minimum deposit requirement for traditional CDs is fairly steep.
Connexus Credit Union banking products
APY last updated between 12/1 and 12/7.
Connexus Credit Union savings overview
In addition to the basic savings account, Connexus offers a holiday club account that pays the same yield.
Pros
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No monthly fees are charged.
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A low minimum deposit is needed to open the account and earn the listed APY.
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The account comes with a contactless Visa debit card.
Cons
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The savings account yield is low compared to many other banks.
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A $5 inactivity fee will be charged to accounts with no activity in 12 months and a month-end balance of less than $100.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Connexus Credit UnionAPYAPY last updated between 12/1 and 12/7.APYAPY last updated between 12/1 and 12/7.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Bank fees
Fee | Charged? |
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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 |
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.
Bankrate staff insight
"Connexus is a good option for basic banking needs if you want the personalized service of a credit union and high APYs on basic products. Applying for an account was very simple, and I was approved within about two days," noted a Connexus checking account holder at Bankrate. "The online portal is simple, but straightforward and easy to use. I like that there are how-to articles within the app itself, guiding you on questions about transactions or showing how to link an external account."
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?
Compare different account types offered by Connexus. Annual percentage yields (APYs) shown were updated between Dec. 1, 2024 and Dec. 7, 2024.
Selected bank
Connexus Credit Union savings account
Bankrate score
2.9
Bankrate Savings rating = 2.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Alliant Credit Union savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Search for or select a bank:
Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Dec. 1, 2024 and Dec. 7, 2024.
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0.10% | 3.10% | |
Minimum balance for APY
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$100.00 | $100.00 | |
Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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$50 | $1,550 | |
The Connexus savings account is required to maintain membership in the credit union. Customers must maintain a minimum daily balance of $100 to earn interest, which is very low. There’s a $5 minimum balance requirement. | Alliant Credit Union has three savings accounts: a High-Rate Savings account, a Supplemental Savings account and a Kids Savings account. | |
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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.
Connexus Credit Union FAQs
Review methodology
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.
Connexus Credit Union customer reviews
Connexus Credit Union has 22 reviews
Dive into community reviews below and see what others think about Connexus Credit Union.
In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.
Community Reviews
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