Connexus Credit Union is a member-owned financial cooperative based in Wausau, Wisconsin.
Connexus has a physical presence in Wisconsin, Illinois, and Minnesota and a nationwide digital banking platform to serve members in all 50 states. They provide deposit products, credit cards, home and auto loans, and other financial services.
Connexus was founded in 1935 as a credit union servicing employees and families of local insurance companies in Wausau.
Today, Connexus claims over $5.2 billion in assets and houses nearly 450,000 members across all 50 states.
In this post, we’ll cover everything Connexus is doing to serve those members, from products to pricing to pros and cons.
Connexus Credit Union Checking Accounts
Connexus offers three different checking accounts, with unique features available in each one.
Connexus checking accounts don’t have any monthly fees or minimum balance requirements. Each account includes a Visa debit card and free monthly statements.
Xtraordinary Checking Account
This impressive rate applies to the first $25,000 of your balance when you make 15 debit card purchases or spend $400 or more each month.
The portion of your balance above $25,000 still earns interest with a 0.25% APY when you meet the above qualifications.
Xtraordinary also includes up to $25 out-of-network ATM fee reimbursements per month for ATMs in the United States.
Innovative Checking Account
Innovative Checking is a more basic option and doesn’t pay an APY. This account also isn’t eligible for out-of-network ATM fee reimbursement.
Since all Connexus checking accounts are free, there isn’t much reason to choose this option over Xtraordinary.
Teen Checking Account
Teen Checking is an interest-bearing checking account for teens that earns a 2.00% APY with no qualifying requirements on the first $1,000 balance. Any balance over $1,000 earns a 0.25% APY.
Teen Checking is open to members aged 10 to 17 and automatically converts to an Innovative checking account when the member turns 18.
Connexus Credit Union Savings Accounts
Here are the current savings account options you can find with Connexus Credit Union:
Member Share Savings Account
Member Share is a traditional savings account with a 0.25% APY on all balances as long as you have a $100 average daily balance. There’s no maximum balance threshold, but you must open the account with at least $%. You can also request an ATM card to access your funds easily.
You can easily link your Member Share account to your Connexus checking account for quick transfers. You’ll also have 24/7 access to your savings from any device.
A Member Share Savings account is required for membership with Connexus.
Holiday Club Account
Holiday Club is a unique savings account that helps you stash money away for the holiday season. Here’s how it works:
When you open an account, you can link it to direct deposit and choose how much of your paycheck you save.
On or after October 1st, you can access the funds in the account for holiday spending.
The account automatically renews yearly, and you can change your deposit amount by calling the credit union. Holiday Club earns an APY of 0.25%, with no maximum limit.
Connexus Credit Union Money Market Account
Connexus’ Money Market option is a high-yield account that earns more the higher your balance grows.
You must open the account with at least $1,000. There isn’t a penalty for balances falling below $1,000, but it won’t earn interest unless your average daily balance is at least $1,000.
Connexus MMA APY Tiers:
- $0 to $999.99: 0.00% APY
- $1,000 to $19,999: 0.25% APY
- $20,000 to $99,999.99: 3.01% APY
- $100,000 to $249,999.99: 4.01% APY
- $250,000 to $499,999.99: 4.26% APY
- $500,000 to $999,999.99: 4.51% APY
- $1,000,000+: 4.76% APY
Connexus Credit Union Share Certificates (CDs)
Share Certificates are the credit union version of a Certificate of Deposit, or CD. With Connexus, you can open a Share Certificate with an initial deposit of at least $5,000.
Term lengths range from 12 to 60 months; the longer you commit your funds, the higher your APY.
Connexus CD Rates and Terms:
|1 Year CD
|2 Year CD
|3 Year CD
|4 Year CD
|5 Year CD
Connexus Credit Union Credit Cards
Connexus offers many credit card options. Some have no annual fee, and those that do offer rewards.
Keep reading to see how they compare.
1. Everyday Rewards+ Credit Card
The Everyday Rewards+ credit card includes a 0% introductory APR for the first six months.
Cardholders earn 4x points on dining and takeout, 2x points on grocery, gas, and streaming services, and 1x on all other purchases. All points are unlimited.
You can redeem the points for travel, cashback, and other rewards, and they currently have a bonus offer of 15,000 points if you spend $500 within the first 90 days.
This card has no annual fee.
2. Platinum Card
Platinum is a debt-management card with a 0% intro APR for your first 15 billing cycles.
This applies to purchases and balance transfers, so you’ll have time and flexibility to take care of monthly payments. This card has no annual fee.
3. Max Cash Preferred
Max Cash Preferred is a cash rewards card that earns 5% cashback in two select categories per quarter, up to $2,000. You’ll earn another 2% back in a third category for everyday spending of your choosing and 1% on everything else. Both the 1% and 2% categories are unlimited.
When you sign up for a new Max Cash Preferred card, there’s a $150 bonus when you spend $500 or more in the first 90 days, and you’ll get a 0% APR on balance transfers for your first 12 months.
This card has no annual fee.
4. Travel Rewards+ Card
The Travel Rewards+ card pays 4x unlimited points on travel, gas, charging stations, and entertainment. You also earn 1.5x points on all other purchases.
You can earn 25,000 bonus points if you spend $2,000 in the first 120 days.
This card has a $0 annual fee for the first year, but then $99 annually after the first year.
5. Reserve Rewards+ Card
The Reserve Rewards+ card pays 6x unlimited points on travel booked through the Connexus Reward Center and 2x unlimited points on everything else.
You can earn 50,000 bonus points if you spend $4,500 in the first 90 days. The card has an annual fee of $390.
6. College Real Rewards
College Real Rewards is a points-based card that earns 1.5 points (equal to 1.5% cashback) on eligible purchases.
There’s a 0% intro APR for your first six billing cycles on balance transfers and purchases, and you’ll get a 2,500-point bonus when you use your card for the first time.
This card doesn’t have an annual fee.
7. Max Cash Secured Card
Use the Max Cash Secured card to improve your credit and earn rewards simultaneously. You earn up to 5% back on two categories you choose quarterly, up to $2,000. You also earn 2% cashback on an everyday purchase category of your choosing and 1% cashback (unlimited) on everything else.
This card doesn’t have an annual fee.
8. Secured Card
The Connexus Secured Card is a good fit for anyone looking to improve or establish their credit score.
There are no points or rewards, but you can safely manage your credit report with a limit that’s dictated by the balance in your linked savings account.
This card has no annual fee.
Connexus Credit Union Features
Here are the top features you will get as a member of Connexus Credit Union:
13 Physical Locations
Connexus currently operates 15 brick-and-mortar branches across three states — Wisconsin, Minnesota, and Illinois.
All of these branches are full-service for members.
5,000+ Shared Branches
If you don’t live near a Connexus branch, you can use a shared branch. Shared branching refers to a nationwide credit union network allowing members to access certain financial services.
The specific services offered will vary from branch to branch, but loan payments, money orders, withdrawals, and deposits are commonly available.
However, you won’t be able to open a new account or take out a new loan at any shared branches.
67,000 Free ATMs
Connexus is part of the CO-OP and MoneyPass ATM networks, so members can enjoy surcharge-free access to more than 67,000 ATMs nationwide.
Just look for either network’s logo on an ATM or head to the Connexus website or app to find one.
Since Connexus’ in-person presence is relatively limited, members outside of its service area can mostly think of it as an online-only credit union.
The Connexus digital banking platform lets you use bill pay, transfer funds, and review your accounts online.
The Connexus mobile banking app gives you full access to every aspect of your accounts. You’ll have the same digital banking features, plus mobile deposits, custom notifications, and savings goal trackers.
Current members seem to be raving about the app’s functionality — with a rating of 4.7 stars (out of 5) in the App Store and 4.7 stars (out of 5) in the Google Play Store.
As a credit union member, you’ll have access to certain perks, including the following.
- Extra cash
- Lower fees
- Higher yields
- Lower rates
Connexus Jr. is a free mobile app that aims to teach kids up to 12 years old about personal finance and money management.
The app is separate from the Connexus banking app; you don’t need a Connexus account to access it.
Connexus Credit Union Fees
Connexus is a low-cost credit union for the most part. You’ll need to look out for only a few common fees.
- Overdraft Fees: Connexus charges a $4 fee for paid or returned overdrafts with a maximum of 2 fees per account per day. There are a couple of different options for overdraft protection, including linked savings or a line of credit. The credit line comes with an 18.00% APR, so your best bet is generally to opt for a transfer from your savings, which is fee-free.
- ATM Fees: Connexus doesn’t charge any fees for domestic ATM use, but depending on your account, you might end up paying out-of-network fees. Xtraordinary Checking is the only account that reimburses for ATM fees, so any other account will be subject to the fee the ATM charges.
- Wire Transfer Fees: Incoming wires are free with Connexus, but if you have to send one out, you’ll pay $20 if it’s domestic and $50 for international.
Connexus membership eligibility is offered to those who belong to certain organizations or live in certain communities.
You can check out the full list of member organizations here, as well as the towns and counties in Minnesota, Ohio, and Wisconsin that qualify.
Family members of existing members are also eligible to join.
If you don’t belong to a member organization or live in Connexus’ service area, don’t worry — you can still qualify for membership by joining the Connexus Association, which requires just a one-time $5 donation.
Once you become a member, you can open an account online, over the phone, or in person with an appointment.
To apply, you’ll need a government-issued ID, your physical address, Social Security number, and date of birth.
However, Connexus may offer promotions in the future, like most credit unions, so stay tuned to see the latest promotions offered.
As a digital-forward financial institution, Connexus highly emphasizes a safe and secure online banking experience.
It has a dedicated fraud monitoring team to keep tabs on any unusual activity and plenty of helpful resources to help protect yourself.
The Connexus mobile app utilizes Touch ID and Face ID, multi-factor authentication, and automatic log-outs. If your debit card is lost or stolen, they have a 24-hour contact center to help you.
Finally, like all accredited credit unions, Connexus accounts are protected by the National Credit Union Administration (NCUA), so your funds are covered for up to $250,000.
Connexus’ Member Contact Center is available 7 AM to 7 PM Monday – Wednesday, 9 AM to 7 PM Thursday, 7 AM to 7 PM Friday, and 8 PM to 1 PM on Fridays. All times are Central time.
You can call them at 800-845-5025 or use the live chat on the website.
There’s also the option to send an email or make an appointment to speak with someone in the branch.
Pros & Cons
- High-yield checking account
- Solid Money Market and Certificate rates
- Very few fees
- Excellent mobile app
- No sign-up bonus
- Few physical branches
- Somewhat low savings APR
Alternatives to Connexus Credit Union
If you like what you hear about Connexus but want to see what else is out there, check out other nationwide credit unions including the following:
Both options have similarly simple eligibility requirements, along with full-service digital banking.
If you want to compare Connexus to the options traditional banks, consider online banks like:
Frequently Asked Questions
Is Connexus Credit Union legitimate?
Yes, Connexus is a legitimate credit union. It’s backed by the NCUA, so you can feel secure that your money is protected.
Who can join Connexus Credit Union?
Anyone with $5. Even if you live outside of Connexus’ service area, you can become a member with a one-time donation of $5 to the Connexus Association.
Is Connexus FDIC-insured?
No, only banks are backed by the FDIC, while credit unions are NCUA members, which serve the same function.
Is Connexus Credit Union Right For You?
Connexus has been named one of the best credit unions around by multiple outlets in recent years.
Considering its low fee schedule, competitive rates, and first-rate mobile platform, this shouldn’t come as a surprise.
The primary complaints against Connexus are its comparatively low savings APRs (which could be mitigated by savvy use of its other accounts) and the lack of a vast branch network. But overall, there is a lot to like with Connexus.
Whether or not you choose Connexus as your new financial partner, now you know what to expect as you move forward.
And remember that banks and credit unions should help you build your savings, rather than the other way around.