Connexus Credit Union

Buyer Beware
- gmshedd - Wednesday, March 10, 2010 - 8:55 AM

Buyer beware. May be good for families who make high annual contributions and have many bills they can pay online, but not for singles, or for families who don't fund to the maximum. I have been very disappointed by the "gotchas" listed below.

HSA accounts at Connexus do NOT pay 4% UNLESS you have a balance over $15,000. This is not published anywhere (good marketing move)--you need to call, or find out the hard way when your interest payment is only about 2.3%. I'm still not sure if it is only the amount above $15,000 that collects the 4%, or whether it applies to the entire balance--I'll probably never find out, because it would take 4 years of maximum contributions (and only about $1,000 in total expenses over those 4 years) for a single person get a balance over $15,000!

HSA accounts are subject to a $5.95 online billpay inactivity fee if you don't use the online billpay function at least once every 90 days. It isn't trivial to arrange a regularly occurring bill that can be paid online, so think about it before you act.

If you open a new HSA account, you will also need to open a normal savings account with a minimum deposit of $5. If you fund both accounts with a single check that includes the annual maximum HSA contribution $5 for the normal savings account, be sure to specify that the entire check be deposited to the normal savings account first, then pay for any checks ($12.44) from the savings account, THEN transfer the remainder (less $5) to the HSA. Otherwise, you will end up over-funding the HSA (max $5) AND getting hit for unqualified distributions of $12.44 $5. After I pointed this out to Connexus, my overfunding situation and $5 distribution were changed, but the unqualified distribution of $12.44 for checks remained.

Be Careful When Opening Accounts At This Institution Based On The Rates They Are Advertising
- jeff - Monday, April 26, 2010 - 10:39 PM

Be careful when opening accounts at this institution based on the rates they are advertising. CD rates listed on their web site are for higher balances even though their minimum balance for a CD is $500. They have 3 rate tiers and only list the highest one on the web site.

This is very misleading and is unexepected from a credit union. You expect this type of behavior from a large bank. Make sure you call the credit union first. Their staff are very friendly and will give you the correct rate based on the balance. This is the only reason I gave them two stars instead of one.

Couldn't Be Happier!
- wausaubanker - Tuesday, March 15, 2011 - 5:08 PM

I have been banking with Connexus for years I really couldn't be happier!

To start, this is a business! Of course they will advertise the very best rates....doesn't every business do that? And the "gotchas" people are listing are their way of rewarding loyalty...those who are making Connexus their primary financial by opneing an active checking are benefitting by getting the best rate. They aren't just going to hand out the very best rates to the random people who just open one account with them. I actually am happy, since I think it's a bit more fair to those who are loyal to Connexus. People who are getting upset are not looking at Connexus' moves from a business standpoint.

I am continually getting great rates and they always have awesome promos, like a referral program.

Their loans are also great, I just refinanced at 2.99% with no payments for the first 90 days. I filled out a loan comparision form, which is free and only a few questions long, and got $25 just for filling it out!

Above all else, I love the customer service here! I used to go through a local bank, and I grew accustomed to being treated without any enthusiasm, etc. The first time I went through the Drive Up at Connexus, I was blown away! Today, I am greeted by name and everyone is always smiling, and they make sure my questions are answered. If I ever have an issue, they figure out what went wrong and go above that and make sure we take the right steps so it won't happen again.

If you are looking for amazing financial products with customer service to match, Connexus is your choice. I have gone from someone who only looks at the numbers on a rate sheet to fully appreciating what a banking experience can be!

Almost All The High Yield Rates Are ONLY Available With Active Checking Account
- prmc - Sunday, October 24, 2010 - 2:46 PM

I opened an account with them but the rate keep dropping very fast.  It's not good for those who don't use debt card for more than 10 times per month. The rate I got from them for YES money market account are as follows(not list on their website): 

$50,000 to $100,000+ --> 1.00%;   $20,000 to $49,999.99 --> 0.75%;  

$10,000 to $19,999.99 --> 0.50%; $1,000 to $9,999.99 --> 0.25% 

The rate list on their website: Deposit Rates | Connexus Credit Union Online | Wausau | Wisconsin - WI

Great Customer Service At Connexus Credit Union
- pearlbrown - Monday, February 18, 2013 - 1:30 PM

I have been a member of this credit union for four years.  Without exception, every CSR I have spoken with over that time has been pleasant, polite, professional and very helpful.  When I have needed additional documents to complete my transactions, they have Emailed them promptly, and even followed up to ask if I had any questions.   

Three years ago, I opened an IRA CD with them, and the process was simple and straightforward.  Two weeks ago, I contacted the credit union to begin the process of transferring those funds at maturity.  I was mentally prepared for an experience as frustrating as it has been in the past at other institutions, but happily, it was totally different at Connexus.  The associate explained the paperwork requirements and the process to me clearly, and was friendly, pleasant, and very easy to work with.   She sent me the necessary paperwork promptly, I completed it, scanned and Emailed it in return, and she confirmed all info was legible.  The CD matured today, and to my very pleasant surprise I received an Email from her confirming the details of how the funds had been handled.  No other institution has ever done that before.

I have recommended Connexus to friends and their experience has been equally positive.   Although our accounts only have modest balances, we have all found their customer service is consistently terrific. 

Connexus Front Line Staff Can't Be Beat
- GJackson - Wednesday, April 18, 2012 - 2:56 PM

Since moving back to Wausau in 1999 I have been a member of Connexus Credit Union. I have always found the front line and drive through staff to be SO friendly. You never feel like a "number" but truly feel appreciated to be a member of their credit union. When we have had mortgage needs; buying two homes and then building another they have always had products to meet our needs.

 

Seconding "Beware" And "Be Careful"
- A_Hamilton - Saturday, March 24, 2012 - 9:53 PM

I too had issues with Connexus.  Mine involves fees which the CSR either knew or should have known in advance as we spoke of what I wanted from the account and my frequency of use (or lack thereof).

If you are not diligent with this Credit Union, meaning if you do not want to hunt for any changes Connexus may or may not have made on a WEEKLY basis, then I would recommend steering clear.  You'd be better off going to Bank of America or Wells Fargo... if you know what I mean.

Poor Customer Service
- offended - Tuesday, June 12, 2012 - 1:33 PM

Beware: The auto bill pay you can set up will take the $$ out sooner than the date you understood it was coming out. This happened to us and it threw our account off and we incurred bank charges. I called to explain this and asked that these be reveresed and the rep I spoke with was CONDESCENDING and told me what she would have done, telling me I should not write checks if I don't have the $$ in the account. This lady made me very uncomfortable.

Our balance was low and I had set up for the deductions to come out ON PAY DAY, when the funds would be in there. They came out several days early.  I did not appreciate being talked to this way as it is completely unprofessional and inappropriate. 

We are good customers with excellent credit ratings and have several accounts and loans through Connexus. This has put a bad taste in my mouth and most likely will move all our business to our other bank.

Great Rates AND Great Service
- BillGreen - Wednesday, April 25, 2012 - 1:33 PM

I agree with previous posters that take full advantage of their relationship with Connexus.  They are always willing to help figure out the best way to take care of your finances.  Also, it's way easier to only deal with one financial institution instead of keeping money at several different ones!

Keep up the great work Connexus!

Friendly And Informative
- haner - Monday, June 20, 2011 - 2:45 PM

Just recently opened a checking and savings account and from the time I met with staff I felt very comfortable.  The staff was very knowledgable and helped assist me in making my banking transition smooth and effortless. 

I was able to take advantage of a special checking rate offer and have been back to visit on several occasions even though I do all my banking online through their online banking.  Very happy with the move.

Requires "Active Checking Account"
- budryerson - Thursday, May 2, 2013 - 1:43 PM

According to their website, "The below (CD) rates require an active checking account." And by "active" they mean direct deposit, minumum monthly transactions, etc., etc., etc. So unless you're ready for all that, this is not a good investment.