Connexus Credit Union is a full-service credit union that offers many financial products. It also offers reduced fees, better APYs, and free financial education, yet many of the same services as traditional banks. This credit union is great for fee-free checking, teen bank accounts, and high-rate certificates. However, Connexus CD rates are modest, so look elsewhere for superior savings alternatives.

Anyone can join Connexus Credit Union by paying $5 to the association. Read on to learn everything about the Connexus Credit Union.

Connexus Credit Union Account Fundamentals

Connexus Credit Union offers the following online bank accounts:

Checking

Their primary bank account is Connexus Credit Union Xtraordinary Checking. It can pay 1. 75% on balances beneath $25,000 and 0.25% on balances above $25,000 if you make 15 debit card purchases or spend $400 each month. Although credit score union dividends are computed in addition to interest, they're called dividends.

No minimum balance is needed to earn dividends. You can only earn dividends or ATM rebates if you meet debit card use requirementsthere is no monthly cost for this account. Account members can get $25 per month in domestic ATM fee rebates. Its competitive APY and big maximum balance make this one of the best checking accounts. If you want a simple bank account without month-to-month charges, the Innovative account is unfastened and would not yield dividends or refund ATM prices.

Savings

The basic Connexus credit union HELOC Member Share Savings Account earns 0.25% APY with a $100 minimum daily balance. This is significantly below the top high-yield savings accounts. To keep your savings account active, you must always have $5, which represents your credit union share.

If you want cash, this financial savings account may be worth thinking about regardless of its low yield. All Connexus financial savings account customers can get an unfastened debit card and use over 67,000 surcharge-free ATMs. Even pinnacle financial savings money owed rarely have debit playing cards. Connexus Credit Union HELOC provides digital banking with text and e-mail alerts and a mobile app for check deposits and savings purposes. Set up an instantaneous transfer every payday to keep for cease-of-year holidays with the Holiday Club financial savings account.

Money Market Account

Customers with active checking accounts and Connexus rates can open a Connexus money market account. The Connexus Credit Union Money Market Account gives access and dividends. You can withdraw or transfer four times each month without fees.

As your account balance rises, the blended APY lowers. Dividends begin at:

• 0.25% for $1,000$19,999.99 balances
• 2.41% for $20,000$99,999.99 balances
• 2.91% for $250,000$499,999.99 balances

Pros of Connexus Credit Union

Benefits Simple Signup

If you don't meet the Connexus Association's family, employment, school, group, or community participation requirements, you can still join by giving $5.

No Monthly Fees

No recurring fees apply to Connexus Credit Union deposit accounts. However, certificate and checking account interest connexus rates are substantially higher than national norms.

Cooperative Availability

Although Connexus credit union HELOC is a regional bank, its members can use ATMs and pooled co-op locations nationwide.

Cons of Connexus Credit Union

Low Savings Rates

Connexus's competitors offer higher-yielding savings accounts, but their highest APY is lower than the average national rate of interest, 0.51%.

High Minimum Deposit

To get Connexus's great money market rate, deposit $20,000 minimum. On the other hand, connexus has a $5,000 minimum deposit, while competitors typically pay only $1,000.

Inactivity Cost

A $5 monthly inactivity fee may be applied if an account sits ignored for twelve months or fails to meet monthly conditions, such as a savings account minimum balance.

Access on the Go

At Connexus Credit Union HELOC, members can use online and mobile banking abilities, including mobile deposit, bill pay, and private bills. The app is for iOS and Android and has 4.7 ratings on Google Play and the App Store.

Moreover, Connexus has branches and ATMs in many states, such as Wisconsin, Minnesota, Ohio, and New Hampshire. Its clients have to get to use more than 67,000 surcharge-free ATMs and 5,000 shared credit union locations.

Also, the credit union doesn't charge for ATMs outside its network. Xtraordinary account holders can get up to $25 per month back from ATM providers if they meet the account's monthly requirements. Free Visa debit card with Connexus checking and savings accounts. Replacement cards are free.

Connexus Credit Union Alternatives

Connexus vs. Alliant

Connexus and Alliant Credit Union offer many banking services at reasonable Connexus CD rates. Alliant Credit Union High-Rate Savings has 3.10% APY on $100+ balances and 80,000+ fee-free ATMs. If you want a better ROI on a CD or checking account, Connexus is your go-to place.

Synergy vs. Connexus

Synergy Credit Union offers checking, savings, student, and domestic loans. Synergy's membership signup is more complicated than Connexus's. You have to fill out an online form and wait one to 2 business days for a response. After becoming a member, you could open the Synergy Credit Union High-Interest Savings Account and earn more than Connexus' 0.25% APY on percentage savings money owed.

Connexus vs. PenFed

The credit union PenFed offers attractive Connexus rates on online checking, savings, money market, and certificate accounts like Connexus. Connexus CD accounts demand a $5,000 initial deposit, whereas PenFed Credit Union Money Market Certificates require $1,000 ($500 for education CDs). Both financial institutions provide attractive Connexus CD rates, but Connexus' high initial deposit may need more time to convince investors.

Final Verdict

Connexus Credit Union has fee-free banking, competitive money market Connexus CD rates, and many ATMs nationwide. Large ATM rebates and a high APY make its Xtraordinary Checking account appealing. However, the savings account yield is lower than competitors, and the money market account requires greater minimum deposits for top rates. Alliant or Synergy may be superior for high-yield savings or reduced deposit requirements. Connexus is good for checking and money market accounts, but connexus rates may be better elsewhere.