Connexus Credit Union Restructures Money Market Account


Deal Summary: Money Market Account, 0.85% APY ($100k+), 0.60% APY ($20k+), 0.25% APY ($1k+), $1k minimum opening deposit.

Availability: Easy membership requirement

As DA reader, bwrensch, noted in a recent Forum post, Wisconsin-based Connexus Credit Union (Connexus) restructured its Money Market Account (MMA) at the beginning of the month. In addition to offering a lowered top rate (0.85% APY), the MMA now has just three rate tiers, with the $50k and $10k tiers having been eliminated.

0.85*%$100k-Connexus Credit UnionMoney Market Account
OTHER TIERS: 0.25% $1k - $20k | 0.60% $20k - $100k
Rates as of September 27, 2021.

The other big change is the elimination of the active checking requirement, effective July 1, 2021 and applicable to newly opened MMAs. The MMA landing page doesn’t make any mention of the active checking requirement being removed, which might be confusing for existing MMA owners. As CSR stated in a Live Chat, “the absence of any mention of active checking means that requirement is gone.”

As bwrensch mentioned in his Forum post, existing MMA customers who have active checking will continue to earn 1.00% APY on balances of $100k+ through September 30, 2021. According to CSR, the rate will be lowered to 0.85% APY on October 1, 2021, with active checking no longer a requirement. “We [will] have the same rates for everyone now.”

The MMA can be opened with a minimum $1k deposit. There is no penalty or service fee if the balance falls below $1k after opening, but a minimum daily balance of $1k must be maintained to earn any interest. Four fee-free withdrawals or transfers may be made each month, with a $9 fee for each withdrawal/transfer beyond the allowed four. There is a monthly $5 inactivity fee for MMA with no activity in 12 months and a month-end balance of less than $100.

Xtraordinary Checking

The Xtraordinary Checking has been one of the staples of Connexus’ product line since its debut in 2009. While maintaining its original qualifying balance cap of $25k, the APY gradually fell from the initial 3.65% APY to the current 1.75% APY. Although 1.75% APY is low for an RCA, the rate has remained constant since May 2012. Qualifying balances of $25k earn 0.25% APY, with non-qualifying balances not earning any interest.

1.75*%-$25kConnexus Credit UnionXtraordinary Checking
OTHER TIERS: 0.25% $25k+
Rates as of September 27, 2021.

The monthly qualifying requirements have not changed and include,

  • At least 15 debit card transactions per month or $400 in debit card spending
  • Receive eStatements

The Xtraordinary Checking account has no monthly maintenance fees, minimum balance requirement, or minimum opening deposit. Nationwide ATM fees will be reimbursed up to $25k per month, if qualifying requirements are met. As a member of the CO-OP Shared Branching and ATM networks, Connexus provides its members with access to more than 6,000 shared branches throughout the country.


Headquartered in Wausau, Wisconsin, Connexus Credit Union’s field of membership (FOM) provides a way for almost any U.S. citizen or resident alien, with a valid Social Security number, to join.

Easy membership requirement – 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 (including Liberty Mutual Insurance) qualify for membership.

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

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

    Ohio – Cincinnati or Norwood

    Wisconsin – counties of Adams, Clark, Juneau, Langlade, Lincoln, Marathon, Portage, Shawano, Taylor, Waushara, or Wood

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

Complete eligibility details are listed Connexus’ Membership Eligibility page.

Joining Connexus and/or opening a Money Market Account can be done online. While Connexus has 12 branch locations in four states, seven of the branches are currently closed until further notice due to COVID-19 precautions. The branches that are open to walk-in traffic include four full-service Wisconsin branches located in Stevens Point, Wausau (2), and Wisconsin Rapids, and the Brooklyn Center, Minnesota branch location.

Note: According to the FAQs, “It can take up to three business days for an application to be approved or denied.

You will also be asked to make a $5 deposit into your savings account to establish your membership. That deposit is yours to withdraw should you decide to cancel your Connexus Credit Union membership.

In addition to participating the CO-OP Shared Branch and ATM networks, Connexus also a member of the MoneyPass ATM network.

Credit Union Overview

Connexus Credit Union has an overall health grade of "A" at, with a Texas Ratio of 9.74% (excellent), based on March 31, 2021 data. In the past year, Connexus increased its total non-brokered deposits by $353.97 million, an excellent annual growth rate of 14.93%. 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 22 years, through acquisitions, mergers, and expansion, Connexus increased its membership to more than 383,000 members, with over $3.4 billion in assets.

How the Money Market Account Compares

When compared to the Money Market Accounts tracked by that are nationally available and require a large balance, Connexus Credit Union’s Money Market Account APY currently ranks first.

Looking for the best Money Market Account rates, either nationwide or state specific? Please refer to our Money Market Account Rates Table page.

How the Xtraordinary Checking Compares

When compared to the High Yield Rewards Checking Accounts tracked by that are available nationally available and have maximum qualifying balances of at least $25k, Connexus Credit Union’s Xtraordinary Checking APY currently ranks third.

To search for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

The above information and rates are accurate as of 7/21/2021.

Related Pages: Boston money market accounts, Cincinnati money market accounts, Minneapolis money market accounts, Wausau money market accounts, money market accounts, reward checking accounts, nationwide deals

  |     |   Comment #1
Forgetting the checking account now-you-see-if-now-you-don't, what do those that use Connexus think about their service and ethics? There are some negative comments on this site, but they seem one-off circumstances and I'm wondering about general attitudes, if any. Thanks.
  |     |   Comment #2
Be aware that inactivity fees, charged PER MONTH, could be onerous for small accounts.
"Inactivity Fee applies to: Checking Accounts (members age 18 and over) with no activity in 90 days and month-end account balance under $100. Health Savings Accounts and Money Market Accounts with no activity in 12 months and month-end balance under $100. Savings Accounts (members age 18 and over) with no activity in 12 months, no other accounts or loans, and month-end balance is under $100."
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Availability: Easy membership requirement

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Availability: Easy membership requirement

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Availability: Easy membership requirement

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