Connexus Credit Union Boosts 24-Month CD To 3.20% APY

POSTED ON BY

Deal Summary: Share Certificates – 12-month (2.80% APY), 24-month (3.20% APY), 36-month (3.35% APY), 42-month (3.35% APY), 60-month (4.00% APY), $5k minimum deposit.

Availability: Easy membership requirement

I was going to start this blog post with a quick history of Connexus Credit Union’s (Connexus) recent lack of competitive CDs, but let’s just skip to the good part: Connexus is back with some great rates, with the 24-month Share Certificate now earning 3.20% APY and the 60-month Share Certificate jumping up to 4.00% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
4.00%$5k-Connexus Credit Union60 Month Certificate
3.35%$5k-Connexus Credit Union36 Month Certificate
3.35%$5k-Connexus Credit Union42 Month Certificate
3.20%$5k-Connexus Credit Union24 Month Certificate
2.80%$5k-Connexus Credit Union12 Month Certificate
Rates as of November 13, 2018.

The minimum opening deposit for any Share Certificate is $5k, with no stated balance cap. In the past, Connexus required a checking relationship when opening a Share Certificate, but that is no longer the case.

In the past year, there is have been few rate increases for these Share Certificates, with APYs that were decidedly not impressive. Yesterday’s across-the-board rate increases (ranging from 30 and 75 bps) have restored Connexus to its former position as a rate leader.

All the Share Certificates are available as IRAs (Traditional and Roth), earning the same APYs with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
4.00%$5k-Connexus Credit Union60 Month IRA Certificate (Traditional, Roth)
3.35%$5k-Connexus Credit Union36 Month IRA Certificate (Traditional, Roth)
3.35%$5k-Connexus Credit Union42 Month IRA Certificate (Traditional, Roth)
3.20%$5k-Connexus Credit Union24 Month IRA Certificate (Traditional, Roth)
2.80%$5k-Connexus Credit Union12 Month IRA Certificate (Traditional, Roth)
Rates as of November 13, 2018.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

If your account has an original maturity of one year or less:
The penalty will equal 90 days dividends on the amount withdrawn subject to penalty.

If your account has an original maturity of more than one year, but less than five years:
The penalty will equal 180 days dividends on the amount withdrawn subject to penalty.

If your account has an original maturity of five years or greater:
The penalty will equal 365 days dividends on the amount withdrawn subject to penalty.

Funding and Maturing Funds

In a Live Chat, CSR stated that a Share Certificate can be funded through ACH, wire transfer, or by check. There is a 10-day grace period before a Share Certificate automatically renews. At maturity, a check can be issued at no charge or funds can be transferred into another Connexus account. An outgoing ACH transfer is possible, but

An ACH outgoing has a limit of $25,000 for a $10 fee, otherwise for
amounts over $25,000 there is a $20 fee for an outgoing wire to another account.

Thanks to the DA readers, Capper and SYC, for their Forum posts about Connexus’ rate increases.

Availability

Headquartered in Wausau, Wisconsin, Connexus Credit Union offers a way for almost any US citizen or alien resident to join.

Easy membership – Membership in Connexus Credit Union is open to virtually anyone by joining the Connexus Association, with a one-time $5 donation that will directly benefit one of many supported organizations.

Employment or Affiliation – Employees, retirees, family members, or members of 16 companies and organizations qualify for membership.

Residency – Individuals who live in any of the following communities are eligible to join:

    Minnesota – Brooklyn Center, Crystal, Golden Valley, Hopkins, Minneapolis, New Hope, Robbinsdale, or St. Louis Park.

    Ohio – Cincinnati metro area.

    Wisconsin – Rothschild, Schofield, Wausau, or Weston, or the counties of Admas, Juneau, Portage, Waushara, or Wood

Relationship – “Spouses, family members, and those living in the same household of an existing member” also qualify.

Complete eligibility details are listed Connexus’ Membership Eligibility page.

Joining Connexus and/or opening a Share Certificate can be done either online, or in person at any of the eight full-service Wisconsin branches located in Wausau (6) and Weston (2), or the two public Ohio branches, both located in Cincinnati. Connexus also has branches exclusively for Liberty Mutual employees in Dover and Portsmouth, New Hampshire; Fairfield, Ohio; and Wausau, Wisconsin. As the result of a merger with Endura Financial Federal Credit Union, Connexus has four branches in Minnesota, located in Brooklyn Center, Golden Valley, and Minneapolis

Credit Union Overview

Connexus Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.62% (excellent), based on June 30, 2018 data. In the past year, Connexus increased its total non-brokered deposits by $118.56 million, an excellent annual growth rate of 8.7%. Please refer to our financial overview of Connexus Credit Union (NCUA Charter # 66538) for more details.

Founded in 1935, the Credit Union was originally established to serve the employees of Employer’s Mutual, the predecessor of Wausau Insurance (1980). In 1998, Wausau Insurance was acquired by Liberty Mutual Insurance and membership was extended to all Liberty Mutual employees and retirees nationwide. Over the next 20 years, through acquisitions, mergers, and expansion, Connexus increased its membership to more than 326,700 members, with over $1.8 billion in assets.

How the Share Certificates Compare

When compared to 212 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Connexus Credit Union's 24-month Share Certificate APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
3.20% APY24-Month Share CertificateConnexus Credit Union
3.15% APY24-Month CDGreenwood Credit Union
3.10% APY2-Year CDKS StateBank

When compared to 184 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Connexus Credit Union's 60-month Share Certificate APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
4.00% APY60-Month Share CertificateConnexus Credit Union
3.75% APY60-Month CDGreenwood Credit Union
3.51% APY60-Month Share CertificateUnited States Senate Federal Credit Union

When compared to 206 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Connexus Credit Union's 36-month Share Certificate APY currently share the top spot with Greenwood Credit Union’s 30-month CD.

Interest RateCD Length of TermCredit Union/Bank
3.35% APY36-Month Share CertificateConnexus Credit Union
3.33% APY33-Month CD SpecialGreat Lakes Credit Union
3.25% APY41-Month Bump Up CD SpecialVeridian Credit Union

When compared to 213 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Connexus Credit Union's 12-month Share Certificate APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
3.00% APY12-Month CDGreenwood Credit Union
2.80% APY12-Month Share CertificateConnexus Credit Union
2.75% APY14-Month CD SpecialFort Knox Federal Credit Union

When compared to 173 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Connexus Credit Union's 42-month Share Certificate APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
4.08% APY4-Year Share CertificateGarden Savings Federal Credit Union
3.35% APY42-Month Share CertificateConnexus Credit Union
3.25% APY48-Month Online Promo CDM.Y. Safra Bank

The above rates are accurate as of 11/7/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Boston CD rates, Cincinnati CD rates, Minneapolis CD rates, Wausau CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
4% CD
4% CD   |     |   Comment #1
any thoughts about Connexus on this 4% cd?
Rate Troll
Rate Troll   |     |   Comment #2
With 3% 1 year CD's available, that's 0.25% more per year for this 5 year CD.
If the FED dot plot is to be believed, that spread will disappear in a year.
Last year this would have looked great.
Now, not so much.
Dunmovin
Dunmovin   |     |   Comment #3
100 basis points for 4 extra years...better than most
Fred
Fred   |     |   Comment #5
On 100K that's an extra 1K a year interest. Based on every mathematical model I'm aware of, that's a great deal.
gregk
gregk   |     |   Comment #11
What relevant "mathematical models" are you aware of, Fred?
#15 - This comment has been removed for violating our comment policy.
#17 - This comment has been removed for violating our comment policy.
#18 - This comment has been removed for violating our comment policy.
Russian Troll
Russian Troll   |     |   Comment #4
Lock in at 3.2% for 24 months is a bad deal. 25 basis point move next month and the possibility of 100 basis points more next year equal wait!
Dunmovin
Dunmovin   |     |   Comment #6
Lost opportunity cost?
Russian Troll
Russian Troll   |     |   Comment #8
None from my prospective because I put a large chunk in the market on the latest dip. Up at least 5% so far and I'll be looking for the next topping phase to cash out!
Mathematical Hand Model
Mathematical Hand Model   |     |   Comment #14
Based upon the FED's current dot plot for funds rate estimates, 0.25% per quarter looks reasonable.
Using second order DiffyQ against Advancial's current 3, 6 and 12 month CD's the 3 month CD outperforms the 6 and 12 month CDs. I'd hazard to guess that if a 3 month CD beats a 12 month CD, that a 4% CD with a 48 month term is going to underperform over time. Until the FED stops raising rates, the CD ladder favors short-term rates. This is especially true due to the flattened yield curve.

One of these days, I'm going to have to learn how to use DiffyQ within a spreadsheet.
If for no other reason than to verify my handwritten chicken scratchings of derivative functions.
fred oaks
fred oaks   |     |   Comment #16
This is actually common cents, no spreadsheet required.

"Until the FED stops raising rates, the CD ladder favors short-term rates. This is especially true due to the flattened yield curve."
QED
QED   |     |   Comment #7
Concurrent availability of the Garden State four year CD deal is not helping Connexus move this five year CD at slightly lower YTM. Were it not for Garden State I would be all over this puppy. But as things stand now . . . not so much.
#9 - This comment has been removed for violating our comment policy.
Decency not MAGA
Decency not MAGA   |     |   Comment #12
Good to see some 4% CDs peeking out now.
My funds are presently elsewhere at a few places (including Sharonview, where it's been 4% since March).

But for those of you who are looking, you'll have to decide which is the right one. On paper, I'd think Garden Savings looks better (4yrs vs 5yrs -- and only 180day EWP vs 365day EWP for Connexus). But Garden is slower, smaller, and more backwards than Connexus (might take a while to get everything done at Connexus). Still, if the EWP is important, Garden might be worth trying, as Garden's is half of what it is at Connexus, though I suspect Connexus would be a lot easier/faster to get your CD finished.

As for future prognosticating, I personally have found that trying to guess what the future will hold is useless. If I have money I want to put in a CD, I'll do so, instead of driving myself crazy trying to guess the future. That way, my money is actually doing something today. It's also why laddering, and a mild EWP is helpful (in case something shockingly good better up, otherwise I just hold to term).

It took 8 full months since Sharonview for other decent 4% offers to start popping up, but glad to see them again!
Decency not MAGA
Decency not MAGA   |     |   Comment #13
sorry, meant that it might take a while to get everything done at Garden, not Connexus.
Anonymous
Anonymous   |     |   Comment #19
Just tried to open a CD and they do a "soft pull" on your credit report - Transunion. Unless I unfreeze the credit report they will not open the CD. I chose not to - too much trouble.
Connexus CU Has 12-Month CD and 60-Month CD
Deal Summary: Share Certificates – 12-month (2.50% APY), 24-month (2.60% APY), 36-month (2.75% APY), 42-month (3.00% APY), 60-month (3.25% APY), $5k minimum deposit.

Availability: Easy membership requirement

Connexus Credit Union (Connexus) was a prolific producer of competitive CDs during 2015 and 2016. Beginning in 2017, rates dropped, Share Certificate Specials dried up, and Connexus was no longer a rates race leader. This past January, Connexus made a strong showing by raising the rates on all its Share Certificates, and more importantly, offered the first nationally available...

Continue Reading
Connexus Credit Union (Easy Membership) Hikes 60-Month CD
Deal Summary: Share Certificates – 60-month (3.00% APY), 36-month (2.30% APY), 24-month (2.27% APY), 12-month (2.01% APY), $5k minimum deposit.

Availability: Easy membership requirement

For much of 2015 and 2016, you were almost guaranteed to find top CD rates at Connexus Credit Union (Connexus). Starting in 2017, Connexus’ rates dropped, its Share Certificate Specials dried up, and Connexus was no longer in the rates race. Connexus has come back strong raising the rates on all its Share Certificates, and more importantly, now has the first nationally...

Continue Reading
Connexus CU Offers $100 Best Buy® E-Gift Card With New Checking

Deal Summary: $100 Best Buy® E-Gift Card when opening a new checking account between March 27, 2016 and May 21, 2017

Availability: Easy membership requirement

Yesterday, I wrote about Connexus Credit Union's (Connexus) new Share Certificate deals, and briefly touched on Connexus' new checking bonus. As promised, here's a more detailed look at that $100 Best Buy® E-Gift Card.

It’s been five months since Connexus offered a bonus when opening a new checking account. Now through May 21, 2017, the Credit Union is offering a $100 Best Buy®...

Continue Reading
Connexus Credit Union Adds Top-Rate 12-, 24-, And 36-Month CDs

Deal Summary: Share Certificates: 12-mo, 1.50% APY; 24-mo, 1.70% APY; 36-mo, 2.00% APY; $5k minimum deposit.

Availability: Easy membership requirement

About two weeks ago, Connexus Credit Union’s (Connexus) removed its limited-time Top Yield Share Certificates from the product line. That void has been filled with three very competitive Share Certificates, which have APYs that currently rank near or at the top of all nationally available CDs.

The minimum opening deposit is $5k, with no stated balance cap. Unlike some of Connexus’s prior Share Certificate promotions, no checking...

Continue Reading
Connexus CU (Easy Membership) Adds Two Limited-Time CD Specials
Availability: Easy membership requirement

In October, Connexus Credit Union (Connexus) offered two limited-time Share Certificates, that required an active checking account to earn the highest APY.

Good news – Connexus has added two new limited-time Top Yield Share Certificates that do not require active checking. The minimum opening deposit is $5k, with no stated balance cap.

This offer is valid for applications received through March 14, 2017. While not available for business, organization, or IRA accounts, the Top Yield Share Certificates are available as trust accounts.

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.