Connexus Credit Union members can take advantage of the best CD rates in the nation. The credit union offers a variety of terms and conditions, so it’s easy to find what suits your needs best. As far as interest rates go, Connexus has you covered with this 2.60% APY certificate!
Connexus Credit Union is offering up to 2.60% APY on their CD rates! The best part is that there are no fees associated with this CD account. Read more in detail here: best cd rates.
connexuscu.org picture credit
Connexus Credit Union began as an employee-only credit union in Wausau, Wisconsin, serving people and families linked with Employers Mutual, which subsequently became the insurance behemoth Liberty Mutual.
Connexus credit union, like many other credit unions that have survived the test of time, has grown via acquisition. They bought a lot of smaller credit unions throughout the years, which enabled them to expand their membership eligibility to what it is now.
Connexus credit union now has over $2.8 billion in assets and slightly under $2.5 billion in consumer deposits, serving over 360,000 members in all 50 states.
Connexus credit union has also earned national recognition for continuously providing high deposit rates on both variable and fixed rate accounts, as well as exceptional customer service.
This article will teach you:
Connexus Credit Union provides IRA CDs as well as conventional CDs with periods ranging from 12 months to 5 years. The APYs on their IRA CDs and ordinary CDs are presently the same for their respective periods.
The NCUA (FDIC counterpart for credit unions) insures Connexus Credit Union’s deposit products up to $250,000 per depositor or $500,000 for joint accounts.
A $5,000 minimum deposit is required for all of their certificates of deposit.
According to recent FDIC statistics, the current national average for a 12 month CD and a 60 month CD is merely 0.17 percent APY and 0.32 percent APY, respectively.
After your deposit matures, you’ll have a 10-day grace period during which you may withdraw or deposit money without penalty.
You will be charged the following early withdrawal fees if you need to take money from this deposit before it matures:
- You’ll pay 90 days’ worth of dividends for the 12-month certificate.
- You’ll pay 180 days’ worth of dividends for the 24-month and 36-month certificates.
- You’ll pay 365 days’ worth of dividends for the 60-month certificate.
If you meet the following criteria, Connexus Credit Union can give you some very attractive Money Market Interest Rates:
- maintain a $50,000 or higher daily active balance in your account, and
- a current bank account with them, and
- Make a $5 deposit into a basic Regular Savings or Youth Savings account.
If you’re new to Connexus Credit Union and already have a checking account, keeping it active will be the most difficult requirement to achieve.
An active checking account with Connexus Credit Union is defined as a single checking account with Connexus under the same membership with:
- Each month, a direct deposit of net pay, such as salary, wages, government benefits, or a pension, is paid to the account;
- ten (10) checks, ACH withdrawals, and/or debit card transactions cleared by the final business day of each month;
- By choosing to receive electronic statements ATM withdrawals are not included.
Money Market Interest Rates
|From $0 to $999.99.00 to $999.99||0.00%|
|$1,999.99 – $19,999.99||0.25%|
|$20,999.99 – $99,999.99||1.00%|
To put the APYs above into perspective, the current national average for a money market account is just 0.08 percent.
A $1,000 minimum deposit is required to open a money market account with Connexus credit union. Interest and credit are compounded monthly. This account does not need a monthly maintenance charge.
Aside from the checking account requirement, Connexus credit union’s money market accounts include a few additional peculiar regulations.
- A cash withdrawal of at least $250 is required.
- This account allows you to write checks (if you purchase a box of checks for $16.90/100 checks), but you are only allowed three per month. After the third check, each check will cost $29.95.
In addition, you are limited to six transactions every month. Check, ACH, digital transfer, and telephone transfer are all examples of this. According to Federal Regulation D, this is standard practice for money market and demand deposit accounts. If you need to get past these restrictions, you may use an ATM or a Connexus branch to make limitless transactions. Connexus is part of a nationwide shared branch network with approximately 6,000 branch sites.
If you have a balance of $5,000 or more in your Connexus Credit Union Health Savings Account, you may get some of the best rates in the nation right now.
Connexus credit union’s HSA (Health Savings Account) allows you to save money before taxes for eligible medical costs that may occur in your life. These accounts pay out high dividends, and if you don’t utilize your money, it will roll over from year to year.
To be qualified for a Connexus credit union HSA account, you must satisfy the following criteria:
- A High Deductible Health Plan (HDHP) covers you (HDHP)
- You have no additional health coverage than what is indicated on IRS.gov under “Other health coverage.”
- You are not a Medicare beneficiary.
- No one may claim you as a dependant on their tax return.
Limitations on Contribution
Contributions may be made by either you or your employer up to the legal maximum amount. Individuals aged 55 and over are eligible for a $1,000 catch-up contribution.
Rates for Health Savings Accounts
|From 0 to $99.99||0.00%|
|From $100 to $499.||0.50%|
|Between $500 and $2,499.99||1.00%|
|between $2,500 and $4,999.99||1.00%|
|From $5,000 to $14,999.99||1.50%|
Connexus Credit Union serves consumers all around the country. There are four ways to join. The first three methods are the simplest and quickest, followed by the fourth method, which is simply a loophole that allows any US citizen to join. The following are the four pathways to membership:
- Members of one of the following groups, or employees, retirees, family members, or members of one of the following groups, or
- Residents of one of the communities listed below, or
- Spouses, family members, and those sharing a home with an existing member, or
- The Connexus Association has members. A $5 gift is all that is required.
Applying for membership is a simple procedure. You will require:
- Valid driver’s license, state identification card, or passport
- Valid Social Security Number in the United States
- Account details for any accounts you want to cancel or transfer funds from.
Connexus credit union gets your attention if you appreciate top-notch rates from a member-centric credit union. CNN Money, Kiplinger, PC Magazine, BankRate, the AARP, and others have all praised them for their unusually high rates and excellent service.
Both their Apple and Android native applications have received great ratings in their respective app stores. Apple received a 4.7 out of 5 star rating, whereas Android received a 4.7 out of 5 star rating.
However, one of their top earning accounts (the money market account) has some potentially challenging requirements. If you can create and maintain an active checking account with them (which is required to open their money market account), you’ll be rewarded with some of the finest money market returns available.
Connexus Credit Union is a financial institution that offers checking, savings, CDs and more. Connexus Credit Union has competitive CD rates with no minimum balance requirements. Reference: connexus credit union checking.
- federal credit union cd rates
- connexus credit union reviews
- connexus,ira cd rates
- connexus credit union merger
- connexus credit union application status