Connexus Credit Union Review
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At a glance
Overview
Connexus Credit Union’s low fee deposit accounts include a checking account that earns interest, a feature you won’t find at many financial institutions. But those looking for a high-yield savings account or CDs that require a low minimum deposit should look elsewhere.
Highlights:
Free Checking Highly Rated AppHighlights:
CDs
Checking
Savings
MMA
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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.
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.
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.
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.
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.
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.
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 compared to what you can find at other credit unions and online banks, as well as low for money market accounts with a balance of less than $20,000.
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The minimum deposit requirement for traditional CDs is steep at $5,000.
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Other banks may offer CDs for as low as a $500 minimum.
Connexus Credit Union banking products
Connexus Credit Union savings overview
Pros
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No monthly fees are charged if your account remains active.
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Only a $100 minimum deposit is needed to open the account and earn the listed APY.
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The account includes a contactless Visa debit card.
Cons
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The savings account yield is lower than the national average.
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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.
Rate history for Connexus Credit Union's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Connexus Credit Union CD overview
Pros
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The CDs earn competitive rates.
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Connexus offers a decent range of term lengths.
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A bump-up CD offers the option to increase your rate once during the term.
Cons
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Some savers may find the $5,000 minimum deposit unaffordable.
Rate history for Connexus Credit Union's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Connexus Credit Union money market overview
Pros
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The minimum opening deposit is manageable.
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Check writing is available.
Cons
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A significant balance is needed in order to earn a competitive yield.
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After four withdrawals have taken place in a month, a $6 fee is charged for each additional one.
Connexus Credit Union checking overview
Pros
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There’s no minimum deposit to open a checking account, but each Connexus member is required to open a regular savings account and deposit at least $5.
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No monthly maintenance fees are charged for any of the checking accounts.
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Xtraordinary checking customers can get ATM surcharge fees refunded up to $25 a month.
Cons
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Xtraordinary account holders must meet certain criteria to earn interest.
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Accounts with no activity in 90 days and a month-end balance of less than $100 will be charged a $5 fee.
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 (money market account only) | $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 seeking assistance can call the credit union Monday, Tuesday, 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 during the same hours.
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. 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."
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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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