Connexus Credit Union (Connexus) is reinforcing its position as a prolific credit union with its three Share Certificate Specials: 12-month (1.33% APY), 18-month (1.43% APY), and 24-month (1.53% APY).
Unlike other Connexus Share Certificates, these Share Certificate Specials do not require a checking account relationship. The minimum opening deposit is $5K of new money, with no maximum balance cap.
This offer is valid for applications received through May 31, 2016. While not available for business, organization, or IRA accounts, all three Share Certificates are available as a trust accounts.
As stated on Connexus’ Disclosure Page, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of one year or less:
The penalty will equal 90 days dividends on the amount withdrawn subject to penalty.
If your account has an original maturity of more than one year, but less than five years:
The penalty we may impose will equal 180 days dividends on the amount withdrawn subject to penalty.
Thanks to DA reader, cumulus, for his Forum post about Connexus’ latest offerings.
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 sole Ohio branch 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 these CDs can be initiated online. but applications must be received by May 31, 2016, to be guaranteed the stated APYs. DA members have stated that in the past they were contacted the same day they submitted an application. The CDs can also be opened at any 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 9.81% (excellent), based on September 30, 2015 data. In the past year, Connexus increased its total deposit by $399.94 Million, an excellent annual growth rate of 76.1%. 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 202,200 members, with over $1.1 Billion in assets.
How the CDs Compare
When compared to the 134 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Connexus Credit Union's 12-month Share Certificate Special currently ranks second.
When compared to the 101 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Connexus Credit Union's 18-month Share Certificate Special currently ranks second.
When compared to the 129 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Connexus Credit Union's 24-month Share Certificate Special currently ranks first.
The above rates are accurate as of 3/2/2016.