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Connexus CDs Review

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Connexus Credit Union, founded in 1935, began as an insurance company and now provides financial solutions to customers throughout the U.S. Connexus offers online banking, credit cards, auto loans, mortgages, and more. The company's Shared Certificates, its version of Certificates of Deposit (CDs), help customers earn money as they save. Connexus is based in Wausau, Wisconsin.
 
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How is Connexus CDs rated?

Breakdown

0.0/5
Types of CDs
4.0/5
Term Lengths and Features
4.0/5
Minimum Deposits, Fees, and Penalties
4.0/5
Customer Experience

Overall Rating: 3.9 / 5 (Very good)

Connexus Credit Union offers Share Certificates, its version of Certificates of Deposit (CDs), to customers throughout the U.S. Connexus CD's APY for a 60 month term is currently the highest in the nation. There is little information online about the company's financial ratings, but it has an A+ rating from the Better Business Bureau. There were only a few customer complaints online regarding the company, all of which Connexus answered and resolved. CD accounts are NCUA insured up to $250,000 and perspective customers can apply for an account online without the need to open a corresponding checking account. Aside from collecting dividends, early withdrawal from CD accounts will have a penalty. All penalties and fees are visually listed on the Connexus Credit Union website.

Connexus CDs Account Features

Term Lengths and Features - 4 / 5

Connexus CDs are available in terms ranging from 12 months to 60 months, and up to a 3.25% APY. Interest is compounded quarterly and customers can opt to receive the dividends via check or directly. To open an account, customers must deposit at least $5,000.
Type of Rate (Traditional)
Fixed
Types of CDs
Traditional CD
Interest Compounded
Quarterly
Term Range
Terms range from 12 months (1 year) to 60 months (5 years), each term with its own respective APY rate.
Minimum Deposit Amount
$5,000
Maximum Balance Limit
not specified
CD Calculator
No

Connexus CDs Fees and Penalties

Minimum Deposits, Fees, and Penalties - 4 / 5

Dividends are credited to the customer's account and may be collected directly or via check. No other withdrawals are permitted. If customers choose to withdraw from their CD account before its maturity date, they will receive a penalty. Penalties equate to 90 days of dividends amount if the account is under a year, 180 days of dividends if under 5 years, and 365 days of dividends if more than 5 years.
Early Withdrawal Penalty
Yes, ranging 90-365 days amount of dividends may be withdrawn depending on term length

Connexus CDs Financial Strength and Reputation

Customer Experience - 4 / 5

Connexus Credit Union does not have much information online regarding its financial strength. There were only 10 online complaints regarding the company, all of which Connexus answered and resolved. The Better Business Bureau gave Connexus an A+ rating for its timely response to customer concerns.
Year Founded
1935
Live Help 24/7
No
Customer Support Hours
6am-9pm Mon-Fri; 8am-1pm Sat
Contact Methods
Phone
Email
Chat
BBB Rating
A+
BBB Total Complaints
10
BBB Resolved Complaints
10
Date Collected
2018-09-27

Company Profile

Full Name
Connexus CDs
Company Website
https://www.connexuscu.org/
Headquarters
2600 Pine Ridge Boulevard, Wausau, WI, 54401
Mailing Address
PO Box 8026, Wausau, WI, 54402

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Top Rated
Our Partner
  • 1.21% high-yield CD, 7.1X higher than national average.
  • Bank with purpose: your deposit helps us keep investing in underserved communities hard hit by the Covid crisis.
  • No fees.
  • FDIC insured.
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