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.
|1.60%||$5k||-||Connexus Credit Union||24 Month CD Special|
|1.42%||$5k||-||Connexus Credit Union||12 Month CD Special|
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.
As stated on Connexus’ Disclosure Page, 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The penalty will equal 90 days dividends on the amount withdrawn subject to penalty.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The penalty we may impose will equal 180 days dividends on the amount withdrawn subject to penalty.
Headquartered in Wausau, Wisconsin, Connexus Credit Union offers membership through a variety of ways:
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, families, retirees, students, and alumni of the following companies and organizations qualify for membership: Air Line Pilots Association Union, Aqua Finance, Aspirus Inc, ATK, Cincinnati Bell, Convergys, Honeywell, Liberty Mutual, Marketplace Home Mortgage, Marshfield Clinic, North Central Technical College, and TSI Incorporated.
Residency - Members of the following communities are eligible to join:
Minnesota – Brooklyn Center, Crystal, Golden Valley, Hopkins, Minneapolis, New Hope, Robbinsdale, and St. Louis Park.
New Hampshire – Dover and Portsmouth.
Ohio – Cincinnati metro area and Fairfield.
Wisconsin – Rothschild, Schofield, Wausau, and Weston.
Complete eligibility details are listed Connexus’ Membership page.
Joining Connexus can be done either online, or in person at any of the eight Wisconsin branches located in Wausau (6) and Weston (2), or two Ohio branches both located in Cincinnati (2). Connexus also has branches for Liberty Mutual employees only in Dover and Portsmouth, New Hampshire; Fairfield, Ohio; and Wausau, Wisconsin. As the result of a merger, Connexus has acquired four branches in Minnesota, located in Brooklyn Center, Golden Valley, and Minneapolis
Opening these Top Yield Share Certificates can be initiated online. but applications must be received by March 14, 2017, for the stated APYs to be guaranteed. DA members have stated that in the past they were contacted the same day they submitted an application. The Top Yield Share Certificates can also be opened at any branch location or by phone (800.845.5025).
Credit Union Overview
Connexus Credit Union (NCUA Charter # 66538) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 7.32% (excellent), based on September 30, 2016 data. In the past year, Connexus increased its total non-brokered deposits by $274.56 million, an excellent annual growth rate of 29.67%. Please refer to our financial overview of Connexus Credit Union 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 19 years, through acquisitions, mergers, and expansion, Connexus increased its membership to over 271,300 members, with over $1.5 billion in assets.
How the Share Certificates Compare
When compared to the 193 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 Top Yield Share Certificate APY currently ranks first second.
When compared to the 190 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 Top Yield Share Certificate APY currently shares the top spot with CDs from Veridian Credit Union, Partner Colorado Credit Union, and Fort Knox Federal Credit Union.
The above rates are accurate as of 1/25/2017.