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Connexus Credit Union Review 2024

Updated January 2, 2024
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At a glance

4.0
Rating: 4 stars out of 5
Bankrate Score
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CDs

Rating: 3.3 stars out of 5

Checking

Rating: 4.6 stars out of 5

Savings

Rating: 2.9 stars out of 5

MMA

Rating: 4.4 stars out of 5

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
Sponsored offers
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
3.90
%
APY
APY
Info Icon
As of 12/8/2024
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer:
Bank logo
Member FDIC
Savings Account
3.90
%
APY
APY
Info Icon
As of 12/8/2024
Rating: 4.2 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer:
Bank logo
Member FDIC
Savings Account
3.80
%
APY
APY
Info Icon
As of 12/8/2024
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.

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

  • Checkmark Icon

    The credit union is easy to join, including for consumers outside of the Midwest region.

  • Checkmark Icon

    Minimum deposit requirements for the savings and checking accounts are either low or nonexistent.

  • Checkmark Icon

    No monthly service or maintenance fees are charged.

  • Checkmark Icon

    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.

CTA We want to know what you think about Connexus Credit Union

We want to know what you think about Connexus Credit Union

Do you have experience with Connexus Credit Union? Let us know your thoughts.

Connexus Credit Union banking products

2.9
/5
Rating: 2.9 stars out of 5
SCORE BREAKDOWN
APY offering:
0.10%
Rating: 1 stars out of 5
1/5
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Minimum balance for APY:
$100.00
Rating: 4 stars out of 5
4/5
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Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info Icon
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info Icon
Access to funds:
Great
Rating: 5 stars out of 5
5/5
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FEATURES
Invest Rate Icon
0.10% APY
Info Icon
Savings Icon
$100 minimum balance for APY
Loan Icon
$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

  • Checkmark Icon

    No monthly fees are charged.

  • Checkmark Icon

    A low minimum deposit is needed to open the account and earn the listed APY.

  • Checkmark Icon

    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.

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

    Connexus Credit Union
    APY
    APY
    Info Icon
    National average APY
    How do we get this data?
    Info Icon

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

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.

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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
Connexus Credit Union Logo
NCUA Insured
Bankrate score
Rating: 2.9 stars out of 5
2.9
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Most comparable
Alliant Credit Union savings account
Alliant Credit Union Logo
NCUA Insured
Bankrate score
Rating: 4.4 stars out of 5
4.4
Info Icon
Read review
Search for or select a bank:
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Bankrate score
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Read review
APY
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0.10% 3.10%
Minimum balance for APY
$100.00 $100.00
Estimated earnings
Info Icon
$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.
  • There are no monthly fees.
  • Customers need just $100 to start earning interest.
  • You can earn a competitive APY with the High-Rate Savings account.
  • You can set as many as 19 different savings goals through additional savings accounts.
    N/A
  • There’s a $5 minimum balance requirement.
  • Connexus’ savings account earns a very low yield.
  • There’s a $5 per month inactivity fee.
  • You need to keep at least a daily average of $100 in the High-Rate Savings account to earn interest.
  • There’s a $1 charge for paper statements.
  • You need to keep at least $5 in the High-Rate Savings account to keep the account open.
    N/A

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

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.

Connexus Credit Union customer reviews

CTA Connexus Credit Union has 22 reviews

Connexus Credit Union has 22 reviews

Dive into community reviews below and see what others think about Connexus Credit Union.

4.1 Star Icon
22 ratings
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Score breakdown
5 stars
36%
4 stars
45%
3 stars
14%
2 stars
0%
1 star
5%
Score by category
Overall Rating 4.1 / 5
Competitiveness of APY 4.3 / 5
Amount of fees 4.3 / 5
Customer support 4.2 / 5
Website / Mobile app 4 / 5
Verified Badge Icon Bankrate methodology disclosure

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

See what users like you are saying about Connexus Credit Union.
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Anonymous account holder
September 13, 2024
Great service, everyone was very attentive to me and helped me through my experience. Great financial institutions, worked best for me, helped me in the long run.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
The fees and costumer support. It's really good.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
Connexus Credit Union Bank is overall a great bank with good customer service, product availability, digital experience, and convenience. However, sometimes the fees for things could throw you off, but there are always offers. I choose Connexus Credit Union because my dad uses it, I have heard great things about it, and it is closest to where I live.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 4 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
They’re customizable and attentive to their cliente. Excellent overall. Services readily available and customer service is top tier.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
That you can trust it and it is safe. Flexibility, sustainability, trusting.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
Always check your account for fees. I love it I can go anywhere anytime with no extra fees.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 3 / 5
Anonymous account holder
September 13, 2024
Very good thanks I way very good quality. Make better taxes make the comedy better.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
It is reliable and they jave good customers service. I feel safe knowing that my information is secure and they dont charge a lot of fees.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
It's dependable for what it's worth. It's a credit union. They accepted me as a client. They were also very convenient for me to bank with.
Score by category
Amount of fees 3 / 5
Competitiveness of APY 3 / 5
Customer support 3 / 5
Website / Mobile app 3 / 5
Anonymous account holder
September 13, 2024
A strategic savings account. Very helpful staff branches are too few and far away.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5