• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
APY GUY: Maximize Your Savings & Earnings

APY GUY: Maximize Your Savings & Earnings

MENUMENU
  • Saving and Spending
    • CDs
      • CD Rates Forecast 2022 – Will Rates Go Up in October and November?
      • Capital One CD Rates
      • Ally Bank CD Rates
      • Chase CD Rates
      • Citibank CD Rates
      • Discover Bank CD Rates
      • US Bank CD Rates
      • Fidelity CD Rates
      • Edward Jones CD Rates
      • Charles Schwab CD Rates
      • Navy Federal Credit Union CD Rates
      • Vanguard CD Rates
    • Savings
      • Best High Yield Online Savings Accounts for 2023
      • Affirm Savings
      • Aspiration Spend & Save
      • Bask Bank High Interest Savings
      • Citi Accelerate Savings
      • Citizens Access Online Savings Account – 2.35% APY!
      • Fitness Bank Savings Review – Now up to 3.60% APY!
      • LendingClub High Yield Savings – Now 2.75% APY!
      • Smarty Pig
      • Synchrony High Yield Savings Account – Now 2.45% APY!
      • UFB Direct Savings Account – Now 3.01% APY!
      • Alternatives to CDs and Savings
    • Checking & Debit
      • 25+ Best Debit Cards for Kids & Teens [December, 2022]
      • Best Bank Promotions & Cash Bonuses for 2022
      • Citibank Checking Account Bonuses
      • Huntington Bank Bonuses
      • PNC Bank Bonuses
      • Truist Bank Bonuses
      • Wells Fargo Checking Account Bonus
      • Chase First Banking
      • Fidelity Youth Account
      • Verizon Family Money
      • Copper Banking
      • BusyKid
      • Greenlight
  • Investing
    • Real Estate
      • Top 8 Real Estate Crowdfunding Platforms for 2022
      • Yieldstreet Review 2022 – 9.71% Avg Annual Returns
      • CrowdStreet
      • Fundrise Review: Compare Annual Returns vs Competitors
    • Stocks & More
      • Best Stock Screening Service
      • MotleyFool
      • Stansberry Research
      • Seeking Alpha
      • Zacks Investment Research
      • Citi Personal Wealth Management
      • Robinhood Cash Management
      • Fidelity Cash Management
You are here: Home / CD Rates / Connexus Credit Union CD Rates – Up to 4.85% APY!

Connexus Credit Union CD Rates – Up to 4.85% APY!

editorial staff
December 5, 2022

image credit: connexuscu.org

Founded in 1935 in Wausau, Wisconsin, Connexus Credit Union got its start as an employee-only credit union serving individuals and families affiliated with Employers Mutual, which later became the insurance giant Liberty Mutual.

As with many credit unions that stand the test of time, Connexus credit union experienced growth through acquisition. Over the years they acquired a number of smaller credit unions that allowed them to broaden their membership eligibility to what it is today.

Today, Connexus credit union serves roughly 360,000 members in all 50 states with over $2.8 billion in assets and just shy of $2.5 billion in consumer deposits.

Connexus credit union has also been nationally recognized over the years for consistently offering high deposit rates on both variable and fixed rate accounts, as well as exemplary customer service.

In this post you'll learn:

  • Connexus Credit Union CD Rates + Account Details
  • CD Rates
  • Grace Period and Early Withdrawal Fees
  • Money Market Account Rate + Details
  • Money Market Rates
  • Health Savings Account Rates + Details
  • Contribution Limits
  • Health Savings Account Rates
  • Connexus Credit Union Eligibility
  • Final Thoughts

Connexus Credit Union CD Rates + Account Details

Connexus credit union offers both IRA CDs and standard CDs with terms ranging from 12 months to 5 years. Both their IRA CDs and standard CDs currently feature the same APYs for their respective terms.

Connexus Credit Union’s deposit products are federally insured by the NCUA (FDIC equivalent for credit unions) up to $250,000 per depositor or $500,000 for joint accounts.

All of their certificates of deposit require a minimum deposit of $5,000.

CD Rates

CD TermAPY
12 months4.51%
15 month Special4.85%
24 months4.01%
36 months3.71%
48 months3.51%
60 months3.51%

To put these offers in perspective the current national average for a 12 month CD and a 60 month CD sit at just 0.90% APY and 0.98% APY, respectively, according to recent FDIC data.

The 15 month Special CD will automatically renew into a 12 month CD if nothing is done during the grace period.

Grace Period and Early Withdrawal Fees

You’ll be given a 10 day grace period upon maturity of your deposit where you can either withdraw or deposit funds penalty free.

If you need to withdrawal money from this deposit prior to its maturity you will be subject to the following early withdrawal fees:

  • For the 12 month certificate, you’ll pay 90 days’ worth of dividends.
  • For the 24-month and 36-month certificates, you’ll pay 180 days’ worth of dividends.
  • For the 60-month certificate, you’ll pay 365 days’ worth of dividends.

Money Market Account Rate + Details

Connexus Credit Union offers some highly competitive money market rates if you:

  1. keep a high daily active balance in the account of $50,000 or more, and
  2. have an active checking account with them, and
  3. open a basic Regular Savings or Youth Savings account and fund it with at least $5.

Keeping an active checking account will likely be the hardest qualification to meet if you are new to Connexus Credit Union and already conduct checking elsewhere.

Connexus Credit Union defines an active checking account as a single checking account with Connexus under the same membership with:

  • Direct Deposit of net pay, including salary, wages, government benefits, or pension made to the account each month;
  • having ten (10) checks, ACH withdrawals, and/or debit card transactions clear the account by the last business day of each month;
  • and electing to receive eStatements. ATM transactions not included.

Money Market Rates

BalanceAPY
$0 to $999.990.00%
$1k – $19,999.990.25%
$20k – $99,999.992.01%
$100K – $249,999.992.51%
$250k – $499,999.993.01%
$500k – $999,999.993.41%
$1m +4.01%

To give the APYs above more context, the current national average for a money market account sits at just 0.29% APY currently.

The minimum deposit requirement for a money market account with Connexus credit union is $1,000. Interest is compounded monthly and credit monthly. There is no monthly maintenance fee associated with this account.

Outside of the checking account requirement there are a few other oddball rules tied to Connexus credit union’s money market accounts.

  1. If you make a cash withdrawal it must be at least $250.
  2. You may write checks with this account (if you order a box of checks for $16.90/100 checks), BUT you are allotted just three per month. Every check after the third will cost you $29.95 per check.

You can also only make a total of six transactions per month. This includes check, ACH, digital transfer or telephone transfer. This is par for the course for money market accounts and demand deposit accounts in general, per Federal Regulation D. If you need to get around these limits, you can make unlimited transactions through an ATM or at an in-person Connexus branch. Connexus is a part of a shared branch network featuring over 6,000 branch locations across the country.

Health Savings Account Rates + Details

Connexus Credit Union’s Health Savings Account features some of the most competitive rates in the country currently if you can maintain a balance of $5,000 or more.

A HSA (Health Savings Account) from Connexus credit union will allow you to put money aside on a pre-tax basis for qualified medical expenses that may arise in your life. These accounts earn impressive dividends and your money rolls over from year to year if you don’t use it.

To be eligible for an HSA account through Connexus credit union you must meet the following requirements:

  • You are covered under a High Deductible Health Plan (HDHP)
  • You have no other health coverage except what is permitted under “Other health coverage,” listed on IRS.gov
  • You are not enrolled in Medicare
  • You cannot be claimed as a dependent on someone’s tax return

Contribution Limits

20212022
Single$3,600$3,650
Family$7,200$7,300

Contributions can be made by either you or your employer up to the maximum limit specified by law. Individuals age 55 and older can make an additional $1,000 catch-up contribution.

Health Savings Account Rates

BalanceAPY
$0 to $99.990.00%
$100 to $499.990.50%
$500 to $2,499.991.00%
$2,500 to $4,999.991.00%
$5k to $14,999.991.50%
$15k +2.00%

Connexus Credit Union Eligibility

Connexus Credit Union offers its services to customers nationwide. It has four paths to membership. The first three are the easiest/fastest ways to join, followed by the fourth way which is essentially a loophole for any US citizen to join. The four paths to membership are as follows:

  • Employees, retirees, family members, or members of one of the following groups, or
  • Residents of one of the following communities, or
  • Spouses, family members, and those living in the same household of an existing member, or
  • Members of the Connexus Association. This just requires a one-time $5 donation.

Applying for membership is a straightforward process. You will need:

  • Valid Driver’s License/State ID/Passport
  • Valid United States Social Security Number
  • Account information for accounts that you would like to close and/or transfer money from.

Final Thoughts

If you value top-notch rates from a member-centric credit union, then Connexus credit union deserves your consideration. They’ve been nationally recognized for abnormally high rates and outstanding service by CNN Money, Kiplinger, PC Magazine, BankRate, the AARP and more.

Both their native apps for Apple and Android receive high marks in their respective app stores. Averaging a 4.7 star rating out of 5 for Apple and a 4.7 star rating out of 5 for Android.

That said, one of their highest yielding accounts (the money market account) comes with some potentially difficult hoops to jump through. However, if you are able to open and maintain an active checking account with them (the prerequisite to opening their money market account) you’ll be rewarded with some of the best yields available on the money market side.

ABOUT THE AUTHOR

editorial staff: A group of savers, investors, side-hustlers and entrepreneurs serve the editorial team with a combined 20 years experience in entrepreneurship, banking and blogging.
Read More

Filed Under: CD Rates, Money Market Tagged With: Connexus Credit Union

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

APY Updates

  • Ivy Bank Review – Deposit Rates up to 4.85% APY!
    January 27, 2023
  • Best CD Rates in New Jersey – Up to 4.60% APY!
    January 26, 2023
  • PenFed Credit Union CD Rates – Now up to 4.70% APY!
    January 26, 2023
  • Capital One CD Rates – Now up to 4.30% APY!
    January 25, 2023
  • Ameriprise Financial CD Rates – Now up to 4.40% APY!
    January 24, 2023
  • Webster Bank CD Rates – Now up to 4.25% APY!
    January 23, 2023
  • Flagstar Bank CD Rates – Now up to 4.00% APY!
    January 23, 2023

The Big Banks

  • Bank of America CD Rates
  • Capital One CD Rates
  • Citibank CD Rates
  • Chase Bank CD Rates
  • Wells Fargo CD Rates
  • U.S. Bank CD Rates

Noteworthy Credit Unions

  • Navy Federal Credit Union CDs and Savings
  • Patelco Credit Union CDs and Savings
  • PenFed CDs and Savings
  • Connexus Credit Union CDs and Money Market

Brokered CDs

  • Edwards Jones
  • Charles Schwab
  • Fidelity
  • Vanguard

Alternatives

  • 12 Alternatives to CDs and Savings Accounts

Real Estate Investment Platforms

  • Fundrise - up to 22% Returns
  • CrowdStreet - up to 17.1% Returns
  • Yieldstreet - Avg 10.61% Returns

Footer

Disclaimer

APY GUY strives to keep its information as accurate and up to date as possible. This information may be different than what you see at a bank, credit union or other financial institution. This applies to both in person visits and their website(s). Any financial products or services represented or discussed on this website are without warranty. When evaluating offers viewed on APYGUY.com, please read the financial institution’s Terms and Conditions.

About Us. Privacy Policy. Terms Of Use. How We Make Money.

Categories

Connect with Us:

  • Email
  • Facebook
  • LinkedIn
  • Twitter

Know of a fantastic APY offered by your local bank or credit union?

Don’t be shy, please share!

Send an email to hello@apyguy.com with the name of the institution, rate (APY) and type of product.

Our editorial staff will confirm the product, rate and APY (annual percentage yield) with the institution and publish it immediately for our viewers.

Copyright © 2023 - APYGUY: Maximize Your Savings & Earnings

Home>CD Rates>Connexus Credit Union CD Rates – Up to 4.85% APY!