Connexus Credit Union 24-Month CD Earns 2.40% APY

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Deal Summary: Share Certificates – 24-month (2.40% APY), 36-month (2.50% APY), $5k minimum deposit

Availability: Easy membership requirement

Just about a year ago, Connexus Credit Union’s (Connexus) 60-month Share Certificate had just come off a three-week stint at 4.00% APY. At the time, many hoped the 4.00% was a harbinger of good things to come; unfortunately, rates haven’t turned out exactly as anticipated.

Connexus hasn’t maintained its reputation as a prolific producer of rate-leading CDs. Rates began to drop in 2017, Share Certificate Specials disappeared, and Connexus was no longer a leader of the rates pack. In January 2018, Connexus made a comeback of sorts, by raising the rates on all its Share Certificates, and more importantly, offering the first nationally available 3.00% 5-year CD. With the exception of the 4.00% offered last November, consistently great rates at Connexus are now memories.

While not rate leaders, two of Connexus’ Share Certificate are currently offering competitive rates. The 24-month (2.40% APY) and 36-month (2.50% APY) can be opened with a minimum $5k deposit and there are no stated balance caps.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.31%$5k-Connexus Credit Union36 Month Certificate
2.21%$5k-Connexus Credit Union24 Month Certificate
Rates as of December 14, 2019.

Even though the 12-month and 60-month APYs aren’t as competitive, they still merit a mention.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.41%$5k-Connexus Credit Union60 Month Certificate
2.01%$5k-Connexus Credit Union12 Month Certificate
Rates as of December 14, 2019.

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

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.41%$5k-Connexus Credit Union60 Month Certificate
2.31%$5k-Connexus Credit Union36 Month Certificate
2.21%$5k-Connexus Credit Union24 Month Certificate
2.01%$5k-Connexus Credit Union12 Month Certificate
Rates as of December 14, 2019.

As stated in the FAQs, the Early Withdrawal Penalty reads as follows:

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The penalty will equal 180 days dividends on the amount withdrawn subject to penalty.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The penalty will equal 365 days dividends on the amount withdrawn subject to penalty.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

According to CSR, 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. Maturing funds can be distributed by check (fee free) or transferred into another Connexus account. An outgoing ACH transfer is possible, but there are limitations:

If the amount is $25,000 or under an ACH could be processed with a $10 fee.
Anything over $25,000 would need to be wired and a $20 fee would apply.

Availability

Headquartered in Wausau, Wisconsin, Connexus Credit Union offers almost any US citizen or resident alien (with a valid Social Security number) a way 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 metro area.

    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 Share Certificate can be done either online, or in person at any of the eight full-service Wisconsin branches located in Wausau (5), Weston (2), and Wisconsin Rapids, or the two Ohio branches open to the public, 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 now has four branches in Minnesota, located in Brooklyn Center, Golden Valley, and Minneapolis.

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.

As a member of the CO-OP Shared Branching network, Connexus provides its members with access to more than 5,600 shared branches throughout the country.

Credit Union Overview

Connexus Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.79% (excellent), based on June 30, 2019 data. In the past year, Connexus increased its total non-brokered deposits by $748.42 million, an excellent annual growth rate of 50.52%. 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 21 years, through acquisitions, mergers, and expansion, Connexus increased its membership to more than 361,000 members, with over $2.6 billion in assets.

How the Share Certificates Compare

When compared to 205 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $5k or less and are available nationally, Connexus Credit Union's 24-month Share Certificate APY currently ranks fourth.

Interest RateCD Length of TermCredit Union/Bank
2.50% APY2-Year e-CDHome Loan Investment Bank
2.45% APY21-Month Simple CD SpecialDow Chemical Employees’ Credit Union
2.43% APY29-Month CDHughes Federal Credit Union
2.40% APY24-Month Share CertificateConnexus Credit Union

When compared to 202 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $5k or less and are available nationally, Connexus Credit Union's 36-month Share Certificate APY currently ranks sixth.

Interest RateCD Length of TermCredit Union/Bank
2.70% APY36-Month Simple CD SpecialDow Chemical Employees’ Credit Union
2.60% APY36-Month Certificate SpecialWheelhouse Credit Union
2.58% APY36-Month CDHughes Federal Credit Union
2.50% APY36-Month Share CertificateConnexus Credit Union

The above rates are accurate as of 11/27/2019.

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


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RICKNY
RICKNY   |     |   Comment #13
I thank this site for the 5% 10 year Penfed CD, The Connexus 4% , MACU at 3.51% (now maxed) and now PSECU at 3.25% right in time as some other CDs mature that were paying in the high 2%.. Most of my funds have been in the 10 year 5% Penfed but it will soon mature. I did load up on Connexus 4% for 5 years. I do not qualify for Navy so not an option for me.

My munis are also doing well. Still have some 5% but they will be called in a few years the way rates are. Lowest muni paying me 3.5% tax free. The Muni market has been disappointing lately.

I didn't predict any of these rates but when I have a CD mature I'm always looking at my options and DA is a great resource.
decades
decades   |     |   Comment #40
Am thankful for the 4.21% Achieva 5yr cd. The sharonview 4% cd and about 20 add on cds at GTE, MACU and PSEU.
centuries
centuries   |     |   Comment #41
Yikes. How much taxes do you owe on all that interest?
SYC
SYC   |     |   Comment #42
It is now at 2.21% APY from 2.40%.
Connexus Credit Union Ups 60-Month CD Rate to 3.40% APY
Deal Summary: Share Certificates – 60-month (3.40% APY), 36-month (3.10% APY), $5k minimum deposit

Availability: Easy membership requirement

Connexus Credit Union (Connexus) raised the rates on its Share Certificates (SC) yesterday, making its 60-month SC (3.40% APY) the rate leader for nationally available 5-year CDs. The other new competitive rate belongs to the 36-month SC, which now earns 3.10% APY. The minimum opening deposit for any Share Certificate is $5k, with no stated balance cap.

Connexus Share Certificates are offered as IRAs (Traditional and Roth), earning...

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Connexus Credit Union's 60-Month CD Now Earns 3.63% APY
Deal Summary: Share Certificates – 60-month (3.63% APY), 36-month (3.35% APY), $5k minimum deposit

Availability: Easy membership requirement

Two months ago, Connexus Credit Union (Connexus) caught the attention of DA readers by raising the rate on its 60-month Share Certificate (SC) to 4.00% APY. That rate lasted about three weeks before dropping to 3.50% APY, where it remained until today. The new 3.63% APY makes the 60-month SC a rate leader in the nationally available 5-year CD category.

Connexus also added 15 bps to its 36-month...

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Connexus Credit Union Boosts 24-Month CD Rate
UPDATE 11/23/2018: 60-month Share Certificate rate lowered. Other Certificate rates also lowered.

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...

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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...

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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

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