According to their website, "The below (CD) rates require an active checking account." And by "active" they mean direct deposit, minumum monthly transactions, etc., etc., etc. So unless you're ready for all that, this is not a good investment.
Be careful when opening accounts at this institution based on the rates they are advertising. CD rates listed on their web site are for higher balances even though their minimum balance for a CD is $500. They have 3 rate tiers and only list the highest one on the web site.
This is very misleading and is unexepected from a credit union. You expect this type of behavior from a large bank. Make sure you call the credit union first. Their staff are very friendly and will give you the correct rate based on the balance. This is the only reason I gave them two stars instead of one.
I too had issues with Connexus. Mine involves fees which the CSR either knew or should have known in advance as we spoke of what I wanted from the account and my frequency of use (or lack thereof).
If you are not diligent with this Credit Union, meaning if you do not want to hunt for any changes Connexus may or may not have made on a WEEKLY basis, then I would recommend steering clear. You'd be better off going to Bank of America or Wells Fargo... if you know what I mean.
I opened an account with them but the rate keep dropping very fast. It's not good for those who don't use debt card for more than 10 times per month. The rate I got from them for YES money market account are as follows(not list on their website):
$50,000 to $100,000+ --> 1.00%; $20,000 to $49,999.99 --> 0.75%;
$10,000 to $19,999.99 --> 0.50%; $1,000 to $9,999.99 --> 0.25%
The rate list on their website: Deposit Rates | Connexus Credit Union Online | Wausau | Wisconsin - WI
Beware: The auto bill pay you can set up will take the $$ out sooner than the date you understood it was coming out. This happened to us and it threw our account off and we incurred bank charges. I called to explain this and asked that these be reveresed and the rep I spoke with was CONDESCENDING and told me what she would have done, telling me I should not write checks if I don't have the $$ in the account. This lady made me very uncomfortable.
Our balance was low and I had set up for the deductions to come out ON PAY DAY, when the funds would be in there. They came out several days early. I did not appreciate being talked to this way as it is completely unprofessional and inappropriate.
We are good customers with excellent credit ratings and have several accounts and loans through Connexus. This has put a bad taste in my mouth and most likely will move all our business to our other bank.
I have been a member of this credit union for four years. Without exception, every CSR I have spoken with over that time has been pleasant, polite, professional and very helpful. When I have needed additional documents to complete my transactions, they have Emailed them promptly, and even followed up to ask if I had any questions.
Three years ago, I opened an IRA CD with them, and the process was simple and straightforward. Two weeks ago, I contacted the credit union to begin the process of transferring those funds at maturity. I was mentally prepared for an experience as frustrating as it has been in the past at other institutions, but happily, it was totally different at Connexus. The associate explained the paperwork requirements and the process to me clearly, and was friendly, pleasant, and very easy to work with. She sent me the necessary paperwork promptly, I completed it, scanned and Emailed it in return, and she confirmed all info was legible. The CD matured today, and to my very pleasant surprise I received an Email from her confirming the details of how the funds had been handled. No other institution has ever done that before.
I have recommended Connexus to friends and their experience has been equally positive. Although our accounts only have modest balances, we have all found their customer service is consistently terrific.
I agree with previous posters that take full advantage of their relationship with Connexus. They are always willing to help figure out the best way to take care of your finances. Also, it's way easier to only deal with one financial institution instead of keeping money at several different ones!
Keep up the great work Connexus!
No after hours or convenient locations, really no locations where I am that i don't have to drive 20 mins. or take off work early or use my lunch time no after hours deposit options. Decided to stop letting me pay my bills with this account with no notice so now i can pay a lot of bills online because of the declined payments. UNACCEPTABLE. Im waiting for my last DD and Im out.
Since moving back to Wausau in 1999 I have been a member of Connexus Credit Union. I have always found the front line and drive through staff to be SO friendly. You never feel like a "number" but truly feel appreciated to be a member of their credit union. When we have had mortgage needs; buying two homes and then building another they have always had products to meet our needs.
This CU used to be a great place to do banking. However, during my divorce, things changed. First I needed my ex-wife removed from loans that she would not be responsible for. I was informed I had to get a LOC loan at nearly 20% to pay off the one loan (had two months left to pay) or it would not happen. On another loan I was told I had to pay down before they would re-write the terms of the loan, which I did. After I paid this amount down I was informed by another loan officer I could have my ex-wife removed from these loans by simply filling out a form and having it approved by the loan officer. Why was I not told this on the previous occasions by the other loan officer? Is it a disconnect in training or is it something more than that? The divorce was difficult enough, being treated like a piece of garbage when you need help makes it that much worse.
Just recently opened a checking and savings account and from the time I met with staff I felt very comfortable. The staff was very knowledgable and helped assist me in making my banking transition smooth and effortless.
I was able to take advantage of a special checking rate offer and have been back to visit on several occasions even though I do all my banking online through their online banking. Very happy with the move.