It’s been several months since I’ve had occasion to write about Connexus Credit Union (Connexus), but that has changed - now through October 22, 2016, members can Earn an Easy $100 bonus when opening a new Xtraordinary or MyRewards checking account.
|1.75*%||-||$25k||Connexus Credit Union||Xtraordinary Checking|
|1.35*%||-||$25k||Connexus Credit Union||MyRewards Checking|
Earn an Easy $100 Requirements
- Use promo code CHECKING$100 when applying.
- Open a new Xtraordinary or MyRewards checking account with a minimum $1k deposit.
Earn an Easy $100 Limitations
- Connexus members with an existing checking account do not qualify for this offer.
- Limit of one $100 bonus per member.
- Checking account must be opened by October 22, 2016.
- $100 bonus will be deposited “upon the first successful recurring electronic direct deposit transaction established and posted into the new Connexus checking account.”
Xtraordinary Checking earns 1.75% APY on qualify balances up to $25k; 0.25% APY on qualifying balances over $25k; and 0.20% APY on non-qualify balances. Qualifying requirements are:
- Enroll in eStatements
- At least 15 monthly debit card transactions
- Have one direct deposit
- Have one third-party online bill payment
MyRewards Checking earns 1.35% APY on qualify balances up to $25k; 0.25% APY on qualifying balances over $25k; and 0.20% APY on non-qualify balances. Qualifying requirements are:
- Enroll in eStatements
- At least 10 monthly debit card transactions
- Have one direct deposit or ACH automatic debit
Thanks to DA reader, pinkterror, for posting the $100 Checking Bonus in the Forum.
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 nine Wisconsin branches located in Wausau (7) and Weston (2), or the two Ohio branches, both located in Cincinnati. Connexus also has branches for Liberty Mutual employees only in Dover and Portsmouth, New Hampshire; Fairfield, Ohio; and Wausau, Wisconsin.
In conjunction with a recent merger, Connexus has acquired four branches in Minnesota, located in Brooklyn Center, Golden Valley, and Minneapolis (2).
Opening a checking account and applying for the $100 bonus can be done online, in any of the above mentioned 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 6.97% (excellent), based on March 31, 2016 data. In the past year, Connexus has increased its total deposits by $245.96 million, an excellent annual growth rate of 26.78%. 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 18 years, through acquisitions, mergers, and expansion, Connexus increased its membership to over 245,000 members, with over $1.3 billion in assets.
How the $100 Bonus Compares
One way of determining the relative value of the $100 bonus would be to incorporate the $100 into the potential maximum earnings of the Xtraordinary and MyRewards checking accounts.
The Xtraordinary checking account could potentially earn $437.50 ($25k x 1.75%) in a year; add the $100 bonus, and the resulting interest rate becomes 2.15%.
The MyRewards checking account could potentially earn $337.50 ($25k x 1.35%) in a year; add the $100 bonus, and the resulting interest rate becomes 1.75%.
The above rates are accurate as of 9/3/2016.
Other Bank Promotions and Bonuses
Interested in other promotions and bonuses? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.