Connexus Credit Union

Connexus Credit Union (easy membership requirement) has restructured its Money Market Account for new accounts effective 7/1/21. Existing accounts will change on 10/1/21.

Connexus has 7/1 rate decrease for Money Market for new and old customers. For new customers, the MM account will no longer require active checking. However CSR said that for existing customers they won't get the requirement for active checking removed until 10/01/21. Unfortunately the website doesn't mention this later date for existing customers and the CU said that they will work on getting this fixed A.S.A.P.. I failed to ask the CSR if the later date was only for existing customers that already have a money market account or if all existing customers. 7/1/21 Money Market rates for all new customers and old customers with active checking. 1K to < 10K now 0.25% was 0.25% with active checking and 0.15% w/o 10K to < 20K now 0.25% was 0.45% with active checking and 0.25% w/o 20K to < 50K now 0.60% was 0.60% with active checking and 0.35% w/o 50K to<100K now 0.60% was 0.85% with active checking and 0.40% w/o 100K+ now 0.85% was 1.00% with active checking and 0.50% w/o Forg

Supply and demand at work. Connexus has lowered its CD rates across the board today or earlier after a recent post by Ken. Its 60 Months CD is no longer a rate leader @1.41%, was 1.56%. The others rate cuts: 12 months 0.91%, was 1.01% 24 months 1.01%, was 1.11% 36 months 1.11%, was 1.26% 48 months 1.31%, was 1.46% https://www.connexuscu.org/rates/#deposit-rates