Connexus Credit Union: 2026 Home Equity Review

Affordability: 3.4 stars

Connexus earns a 3.4 out of 5 for affordability due to its higher standard rates, closing costs and other fees associated with its loans.

• APR: While Connexus offers a low introductory APR for the first six months, its standard APR is slightly above Bankrate’s national average.
• Fees: Connexus Credit Union doesn’t charge an annual fee for any of its home equity products. However, it does charge $175 to $2,000 in closing costs, depending on the property's location. The institution also charges a $15 returned loan payment fee, a $15 fee for loan payments made by phone or debit card and a $15 fee for ACH payments by phone (although one-time ACH transfers online are free)

Availability: 5 stars

Connexus Credit Union scores a perfect 5 out of 5 for availability, primarily due to its small loans and availability throughout most of the country.

• Licensing: Connexus is licensed to provide home equity products in every state except Alaska, Hawaii, Maryland and Texas.
• Credit score: You'll need a 640 credit score to qualify for Connexus’ home equity products, well within the minimum range that most home equity lenders require.
• Loan minimum: Connexus’ loans start at $5,000, a low sum by home equity financing standards.

Borrower experience: 4.2 stars

Despite its highly transparent rates, Connexus earns a 4.2 out of 5 for borrower experience because it has limited branch locations and no fixed-rate HELOC option. 

• Rate transparency: Connexus lists the rates and repayment amounts for its home equity loans by rate term, and the introductory rates and subsequent rates for its HELOCs. 
• Convenience: Anyone is eligible to join Connexus Credit Union and then apply for a loan online or a branch, or book a call with a customer service rep. Membership is required to borrow, but you can join simply by making a $5 donation to the Connexus Association. Without a donation, you can also become a member if you live in one of 40 communities in Illinois, Wisconsin, Ohio or Minnesota, are related to a current member or are associated with one of more than 20 participating groups.
• Customer service: If you’re interested in getting a home equity loan or line of credit from Connexus, you can start the process online, by email or by phone at 800-845-5025. The credit union’s call center and live chat are open from 7 a.m. to 7 p.m. CT Monday through Wednesday; 9 a.m. to 7 p.m. CT Thursday; 7 a.m. to 7 p.m. CT Friday; and 8 a.m. to 1 p.m. CT Saturday.
• Fixed-rate options: Connexus offers a fixed-rate home equity loan, but no rate locks on its HELOCs.

Connexus Credit Union gets an A+ rating from the Better Business Bureau but is not accredited by the organization. The company earns a low 1.4 customer rating on the BBB, with most reviewers complaining about deceptive practices. On Trustpilot, Connexus gets a 2-star rating, with most users citing poor communication.