The certificate rates as of 7/25/09 include a 2.00% APY for 6 months, 2.50% APY for 12 months and 3.50% APY for 60 months. Minimum deposit is $500 for regular certificates and $2,000 for IRA certificates. Dividends are computed daily and posted quarterly. You can specify that the dividends to be transferred to your Connexus savings, checking or money market account. There's an online application. Funding can be done by transferring money from your Connexus checking, savings or money market account. You can also mail in a check. CD details are listed in the credit union's account information document. Early withdrawal penalty is 90 days of dividends for the 6-month and 1-year CD. For the 60-month CD it's one year of dividends on the amount withdrawn. Grace period at maturity is 10 calendar days.
The above rates are listed at the credit union's deposit rates page as of 7/25/09.
In addition to competitive CDs and money market accounts, Connexus also offers two reward checking accounts (see post) and a competitive health savings account (see post).
Membership is open to members of the Connexus Association. According to the credit union's About Us Page:
anyone can join Connexus Credit Union by first becoming a member of our Connexus Association.
I've been told that the Connexus Association requires a one-time $5 donation, and membership into Connexus Credit Union requires a $5 deposit in the savings account.
The credit union is headquartered in Wausau, Wisconsin. Branches are located in Wisconsin, Ohio and New Hampshire. It appears Connexus started out as an employees credit union for Liberty Mutual Insurance. Most of their branches are in Liberty Mutual offices.
Connexus Credit Union has some decent ratings for safety and soundness: 4 stars (excellent) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 3/31/09 financial data. The credit union is federally insured by the NCUA (Charter # 66538).