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203-603-5700
PO Box 477
North Haven, CT 06473-0477

Connex Credit Union is headquartered in North Haven and is the 5th largest credit union in the state of Connecticut. It is also the 529th largest credit union in the nation. It was established in 1940 and as of March of 2014, it had grown to 98 employees and 48,820 members. Connex Credit Union has a A+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in New Haven, Hartford or Middlesex County. - See Details

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Reviews (4)

Great Bank

I have been with this bank for over 25 years.They are all very friendly and knowledgable.I never get fees for checking or savings.They even pay me 2% on my checking account.

Great Service

Connex offers great personal service and their access to the Allpoint ATMs is great!

Terrible Bank, Terrible Employees

THIS BANK IS ABSOLUTELY HORRIBLE AND CLUELESS.

I went to open a "unbank" checking account with them and realized that I was going to be charged for checks...so I called to close the account immediately, hoping this could be done before the checks were ordered, etc.

Their customer services representatives are rude and not helpful. They don't understand the processes of the bank one bit so it's impossible for them to actually help you when you have an issue.

I still haven't resolved the issue with them.

Low Limit On Debit Card, Does Not Authorize Car Rentals

A terrible bank to do business with. Unless you are looking to have a little savings account they can be ok. If you are looking for an everyday banking go to a major financial institution. I have three accounts and I will be closing two of them.



Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Connex Credit Union had $3.99 million in non-current loans and owned real-estate with $53.05 million in equity and loan loss allowances on hand to cover it. This gives Connex Credit Union a Texas Ratio of 7.52% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Connex Credit Union experienced no significant changes from 4.55% as of March 31, 2013 to 7.52% as of March 31, 2014, resulting in a negative change of 65.21%. This indicates that the balance sheet and financial strength for Connex Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Connex Credit Union has increased its total deposits by $22.98 million, resulting in 6.99% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Connex Credit Union has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Connex Credit Union has $415.55 million in assets with $53.05 million in equity, resulting in a capitalization level of 12.77%, which is excellent.

Institution Statistics

Overall
NCUA #68511
Year Chartered1940
Employees98
Primary Regulator
Assets and Liabilities
Assets$415.55 million
Loans$251.21 million
Deposits$351.60 million
Equity Capital$50.02 million
Loan Loss Allowance$3.03 million
Unbacked Noncurrent Loans$3.80 million
Real Estate Owned$187,000
Historic Data - March 2013
Assets$391.09 million
Equity Capital$48.41 million
Loan Loss Allowance$2.99 million
Unbacked Noncurrent Loans$3.80 million
Real Estate Owned$161,000
Profit Margin - Quarterly
Net Interest Margin1.06%
Return on Assets0.18%
Return on Equity1.46%
Interest Income$3.32 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Connex Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Connex Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$20k-IRA Share Account
0.10%$25-Health Savings Account
0.10%$25-Health Checking Account
0.05%$25-Regular Share Account
0.05%$25-Business Savings Account

Connex Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$100k-Money Market Share Account with Your Choice Checking
0.30%$2k-Mini Money Market Share Account
0.30%$100k-Business Money Market Account
0.25%$100k-Money Market Share Account

Connex Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.25%$25$25kUnbank Checking - Qualified Balances
0.10%--Business Checking Account
0.05%$25-Your Choice Checking Account
0.05%$25-Unbank Checking - Non-Qualifying Accounts

Connex Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.35%$500$250k60 Month Share Certificate with Your Choice Checking
1.25%$500$250k60 Month Share Certificate
1.20%$100k$250k40 Month Special Share Certificate with Your Choice Checking
1.10%$100k$250k40 Month Special Share Certificate
1.10%$500$250k48-59 Month Share Certificate with Your Choice Checking
1.00%$500$250k48-59 Month Share Certificate
0.85%$500$250k36-47 Month Share Certificate with Your Choice Checking
0.75%$500$250k36-47 Month Share Certificate
0.70%$100k$250k26 Month Special Share Certificate with Your Choice Checking
0.60%$100k$250k26 Month Special Share Certificate
0.50%$100k$250k13 Month Special Share Certificate with Your Choice Checking
0.45%$500$250k24-35 Month Share Certificate with Your Choice Checking
0.40%$100k$250k13 Month Special Share Certificate
0.35%$500$250k24-35 Month Share Certificate
0.30%$500$250k12-23 Month Share Certificate with Your Choice Checking
0.25%$500$250k6 Month Share Certificate with Your Choice Checking
0.20%$500$250k12-23 Month Share Certificate
0.20%$500$250k3 Month Share Certificate with Your Choice Checking
0.15%$500$250k6 Month Share Certificate
0.10%$500$250k3 Month Share Certificate

Connex Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.35%$500$250k60 Month IRA Certificate with Your Choice Checking
1.25%$500$250k60 Month IRA Certificate
1.20%$100k$250k40 Month Special IRA Certificate with Your Choice Checking
1.10%$100k$250k40 Month Special IRA Certificate
1.10%$500$250k48-59 Month IRA Certificate with Your Choice Checking
1.00%$500$250k48-59 Month IRA Certificate
0.85%$500$250k36-47 Month IRA Certificate with Your Choice Checking
0.75%$500$250k36-47 Month IRA Certificate
0.70%$100k$250k26 Month Special IRA Certificate with Your Choice Checking
0.60%$100k$250k26 Month Special IRA Certificate
0.50%$100k$250k13 Month Special IRA Certificate with Your Choice Checking
0.45%$500$250k24-35 Month IRA Certificate with Your Choice Checking
0.40%$100k$250k13 Month Special IRA Certificate
0.35%$500$250k24-35 Month IRA Certificate
0.30%$500$250k12-23 Month IRA Certificate with Your Choice Checking
0.20%$500$250k12-23 Month IRA Certificate
Locations


Connex Credit Union Locations
Branch Office620 W Main StBranford, CT 06405-3420
Branch OfficePO Box 477North Haven, CT 06473-0477
Branch Office2 Whitney Ave Whitney Grove SquareNew Haven, CT 06510
Branch Office849 Boston Post RdGuilford, CT 06437-2752
Branch Office212 Boston Post RdOrange, CT 06477-3220
Branch Office970 N Colony RdWallingford, CT 06492-5900
Branch Office2100 Dixwell AveHamden, CT 06514-2406