Connexus Credit Union offers a fee-free high-yield checking account with no minimum opening deposit.

Connexus Credit Union offers a fee-free high-yield checking account with no minimum opening deposit.

Connexus Credit Union: A Smart Choice for Online Banking

Our team of experts is dedicated to helping you make smart decisions when it comes to managing your money. One institution that stands out in our best credit unions guide is Connexus Credit Union. As an online credit union, it offers a range of benefits and competitive interest rates on its accounts. Let’s take a closer look at what sets Connexus apart from the rest.

Overall Credit Union Rating

When it comes to overall satisfaction, Connexus Credit Union receives high marks. Customers appreciate the convenience and flexibility of online banking, combined with excellent customer service. With 15 branches in Illinois, Minnesota, and Wisconsin, Connexus is able to provide a seamless banking experience to its members.

Pros and Cons

Before diving into the specific account options offered by Connexus, let’s explore the pros and cons of banking with this credit union. Here’s what you need to know:

Pros:

• Competitive interest rates on accounts
• Easy access to your money with a debit card included
• No minimum opening deposit for certain accounts
• No monthly service fees or out-of-network ATM fees for checking accounts

Cons:

• Steep minimum opening deposit of $5,000 for share certificates
• Excess withdrawal fees for money market accounts

It’s important to weigh these pros and cons against your own financial needs and priorities to determine if Connexus Credit Union is the right fit for you.

Account Options

Connexus Credit Union offers a variety of accounts to cater to different financial goals and needs. Let’s take a closer look at some of the standout options:

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Connexus Credit Union Members Savings Account

The Connexus Members Savings Account requires a minimum opening deposit of just $5 and offers a decent interest rate. What sets this account apart is the inclusion of a debit card, providing easy access to your savings. This level of convenience is not commonly found in traditional savings accounts.

Connexus Xtraordinary Checking Account

For those seeking a high-yield checking account, look no further than Connexus Xtraordinary Checking Account. This account has no minimum opening deposit, monthly service fees, or out-of-network ATM fees. To unleash the full potential of this account, maintaining a balance below $25,000 and meeting certain criteria, such as subscribing to e-statements and making regular debit card transactions, can maximize the benefits.

Connexus Credit Union Share Certificate

If you have a substantial amount of money to deposit and are looking for high interest rates, Connexus offers share certificates to meet your needs. However, keep in mind that the minimum opening deposit for these certificates is $5,000. If this amount is beyond your current means, it may be worth exploring other options for certificates of deposit.

Connexus Credit Union Money Market Account

If you are able to maintain a high balance in your account, the Connexus Money Market Account offers a high interest rate. This account is ideal for individuals who can deposit at least $20,000. However, be aware of the limited number of free withdrawals allowed per month and potential excess withdrawal fees.

Membership and Accessibility

Joining Connexus Credit Union is straightforward and offers several eligibility options. To become a member, you can:

• Be employed or an alum of a group listed on their eligibility list
• Reside in specific communities or counties in Minnesota, Ohio, or Wisconsin
• Have a family member who is a current member
• Become a member of the Connexus Association by making an initial $5 donation

Once you become a member, you’ll have access to Connexus’ online banking platform and mobile app, which have received high ratings on both the Google Play Store and Apple Store. The credit union is also federally insured by the NCUA, offering peace of mind with up to $250,000 coverage for individual bank accounts.

Trustworthiness and Comparison

Connexus Credit Union has earned an A+ rating from the Better Business Bureau, indicating solid customer satisfaction and transparent business practices. While a good rating is important, it’s always helpful to hear from current members or read online reviews to get a better understanding of the credit union’s reputation.

In comparison to other credit unions, such as Alliant Credit Union and Wings Financial Credit Union, Connexus stands out in terms of its online banking offerings and competitive interest rates. All three institutions provide an easy path for membership through a simple donation of $5. Depending on your specific banking preferences, you’ll want to consider factors such as the highest interest rates on savings, minimum deposit requirements, and account options to make the best choice for your financial needs.

In conclusion, Connexus Credit Union offers the convenience and accessibility of online banking while providing competitive interest rates on its accounts. Whether you’re looking for a savings account with a debit card, a high-yield checking account, or investment options like share certificates, Connexus has you covered. With excellent customer service and a solid reputation, it’s no wonder Connexus is featured in our best credit unions guide.

• Connexus Credit Union
• Connexus Credit Union Savings Account
• Connexus Credit Union Xtraordinary Checking Account