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Connexus Credit Union Review 2022

Updated December 2, 2022
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At a glance

4.5
Rating: 4.5 stars out of 5
Bankrate Score
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CDs

Rating: 4.3 stars out of 5

Checking

Rating: 5 stars out of 5

Savings

Rating: 3.9 stars out of 5

MMA

Rating: 4.6 stars out of 5

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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.

Highlights

  • Free Checking
  • Low Min Deposit
  • Top CD Rates
Compare offers
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 4.5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

Connexus Credit Union has branch locations in the Midwest but offers deposit products and financial services to consumers from coast to coast.

Pros

  • Checkmark

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

  • Checkmark

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

  • Checkmark

    No monthly service or maintenance fees are charged.

  • Checkmark

    It offers a highly rated mobile app that includes bill pay, mobile check deposit and more.

Cons

  • Members don’t have many accounts to choose from within each product category.

  • The yields on savings accounts and money market accounts with a balance of less than $20,000 are modest.

Connexus Credit Union bank products

3.9
Rating: 3.9 stars out of 5
Bankrate Score

Connexus Credit Union savings overview

Opening a regular 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 APY is above the national average, but 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, youth savings and holiday club accounts are also available and pay the same yield.

Pros

  • Checkmark

    No monthly fees are charged.

  • Checkmark

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

Cons

  • The savings account yield is low compared to many other banks.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 4.5 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

Connexus Credit Union has several branch locations in Ohio, Wisconsin and Minnesota. There are also more than 6,000 shared branches available to members and more than 54,000 surcharge-free ATMs accessible through the CO-OP and MoneyPass networks. Members needing assistance can reach out through the credit union’s online live chat or call 7 a.m. to 7 p.m. Central time, Monday-Wednesday and Friday; 9 a.m. to 7 p.m., Thursday; and 8 a.m. to 1 p.m., Saturday.

Connexus members have access to several different perks, including a free financial consultation through the Connexus Investment Services Group program. All members also qualify for $1,000 of accidental death and dismemberment insurance coverage. Other services include debt management planning, housing counseling and online courses about budgeting, credit scores and homebuying.

Another plus is the access members have to a highly rated mobile app. Mobile check deposit and bill pay are available. Members cannot use Zelle, but the credit union has its own person-to-person payment system, and there are no fees for sending or receiving payments. Payments are limited to 10 a day, up to a total of $1,500.

About Connexus Credit Union

Connexus Credit Union offers products and services to 390,000 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 6,000 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.

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.