Connexus Credit Union

What Connexus Credit Union does

Connexus Credit Union is a not-for-profit, member-owned financial cooperative founded in 1935 and headquartered in Wausau, Wisconsin. It serves more than 430,000 members across all 50 states through a hybrid distribution model: 14 owned branches in Wisconsin, Illinois, and Minnesota complemented by access to 5,000+ Co-op Shared Branches, thousands of fee-free ATMs across the Co-op and MoneyPass networks, and a digital banking platform with iOS/Android mobile apps. The institution is federally insured by the NCUA and operates as a cooperative rather than a shareholder-owned bank, redistributing earnings to members via competitive deposit and loan pricing rather than dividends.

The product portfolio spans deposit accounts (Xtraordinary Checking up to 4.50% APY, Simply Free Checking, Teen Checking, Simply Savings, Holiday Club, Money Market up to 3.01% APY tiered, Share Certificates up to 4.30% APY including a Bump-Up variant, Traditional/Roth IRAs, and HSAs up to 1.01% APY), consumer and business credit cards issued through Elan Financial Services (Visa/Mastercard), and a full lending menu including mortgages (fixed and ARM, including VA Home Loans), home equity loans and HELOCs, auto and recreational vehicle loans, unsecured and secured personal loans, personal lines of credit, and student loans via an ISL Education Lending referral partnership. Digital capabilities include mobile deposit, biometric login, debit card management (freeze/unfreeze, travel notices, alerts, PIN), Apple Pay/Google Pay/Samsung Pay tokenization, bill pay, and interactive financial calculators.

The business model is dominated by net interest income—spread between loan yields (e.g., 4.69% APR auto, 5.624% APR 15-year mortgage, 4.99% HELOC intro through 2027) and deposit costs—supplemented by credit/debit card interchange (Elan Financial Services partnership), referral economics from LPL Financial investments, GreenPath financial wellness, ISL Education Lending, and insurance partners (TruStage, Minnesota Life, Zurich American via Franklin Madison). Acquisition is product-led: competitive headline rates, signup bonuses (up to $250 via XTRABONUS), promotional codes (AUTO2026, SAVEONCLOSING), and nationwide digital onboarding compete on price and accessibility rather than physical branch density. Leadership is led by President & CEO Boyd Gustke, EVP & COO Chad Rogers, and CFO Mary Burgoyne.

Name

Connexus Credit Union

Legal name

Connexus Credit Union

Website

https://connexuscu.org

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Connexus Credit Union is a not-for-profit, member-owned financial cooperative founded in 1935, serving 430,000+ members nationwide with deposit accounts, consumer and mortgage lending, digital banking, and supplementary investment, insurance, and financial wellness services through owned branches and shared branching networks.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Deposit accounts
• Home mortgage loans
• Digital credit union

Headquarters

HQ city

Wausau

HQ country

United States

HQ region

North America

Offices14 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales, Others

Revenue model

1. Net Interest Income: The primary revenue driver is the spread between interest earned on loans (auto, mortgage, personal, home equity) and interest paid on deposits (checking, savings, certificates, money market). Connexus offers competitive rates to attract deposits and originate loans at profitable margins.
2. Credit Card Interchange: Revenue generated from credit card transactions processed through Elan Financial Services partnership. Zero fraud liability protection is offered to cardholders.
3. Debit Card Transaction Fees: Interchange fees earned on debit card transactions. Xtraordinary Checking provides up to $15 monthly in ATM surcharge rebates to reimburse members for fees charged by out-of-network ATM operators.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels6 records

Core offering

Connexus Credit Union is a not-for-profit, member-owned financial cooperative that provides deposit accounts (checking, savings, money market, share certificates, IRAs, HSAs), consumer and business credit cards, and a full suite of loan products including auto, recreational, mortgage, VA, home equity, HELOC, personal, and student loans. The institution complements these with digital banking, investment, insurance, and financial wellness services to members across all 50 U.S. states.

Product overview

Connexus Credit Union is a not-for-profit, member-owned cooperative offering a comprehensive suite of financial products and services. The core product portfolio centers on deposit accounts including checking (Xtraordinary Checking up to 4.50% APY, Simply Free Checking, Teen Checking), savings (Simply Savings, Holiday Club), Share Certificates (Regular, Jumbo, Bump-Up, Special 17-month at 4.30% APY), Money Market Accounts (up to 3.01% APY), IRAs (Certificates and Savings with Traditional/Roth options), and HSAs (up to 1.01% APY). Credit products include Consumer and Business Credit Cards through Elan Financial Services. Lending offerings span auto loans and refinance (as low as 4.69% APR), recreational loans (6.59% APR), mortgages and refinance (fixed and ARM options), VA Home Loans, Home Equity Loans and HELOCs, Personal Loans (9.49%-18.49% APR), Personal Lines of Credit, and Student Loans via ISL Education Lending partnership. Digital services include full Digital Banking platform with mobile app, mobile deposit, bill pay, debit card management, and financial tools. Supplementary services encompass Investment Services through LPL Financial, Insurance products, Financial Wellness via GreenPath, Shared Branching through Co-op network, and nationwide ATM access via MoneyPass. The institution serves members in all 50 states with nationwide accessibility and digital-first service delivery.

Differentiator

Problem solved

Functional benefit

Products and services

• Xtraordinary Checking High-yield consumer checking account offering up to 4.50% APY on balances up to $25,000 with monthly activity requirements, $15 monthly ATM surcharge rebates, and a digital progress tracking tool for individual members.
• Simply Free Checking No-fee consumer checking account with no monthly maintenance fees, no minimum balance requirements, and unlimited free ATM access for individual members.
• Teen Checking Checking account for individuals aged 10-17 earning up to 2.00% APY on balances up to $1,000, with automatic transition to Simply Free Checking at age 18.
• Simply Savings Entry-level consumer savings account earning 0.01% APY with a $100 minimum daily balance to earn dividends, $5 minimum opening deposit, and free contactless Visa debit card with nationwide fee-free ATM access.
• Holiday Club Account Seasonal-purpose consumer savings account with automatic annual fund transfer on October 1 and annual renewal, designed to help members save for holiday expenses.
• Share Certificates Term deposit products (CDs) offering guaranteed returns with fixed terms, including Regular Certificates, Jumbo Certificates, Bump-Up Certificates, and a Special 17-month Certificate at 4.30% APY.
• Money Market Account High-yield savings account with tiered dividend rates up to 3.01% APY for balances of $1M+, check-writing capabilities, and up to four fee-free withdrawals per month.
• IRA Certificates Individual Retirement Account Certificates offering fixed yields with terms from 6 to 60 months, available as Traditional and Roth IRAs.
• IRA Savings Accounts Retirement savings accounts with variable interest rates, no fixed term, and no minimum opening deposit, available as Traditional and Roth IRAs.
• Bump-Up IRA Certificate IRA Certificate with a one-time rate increase option during the 24-month term allowing members to take advantage of rising yields.
• Health Savings Account (HSA) Tax-advantaged health savings account for individuals with High Deductible Health Plans, offering tax-free earnings, free HSA debit card, and tiered APY rates up to 1.01%.
• Consumer Credit Cards Consumer credit cards issued through Elan Financial Services with zero fraud liability, 24/7 cardmember service, and mobile purchasing capability.
• Business Credit Cards Business credit cards with flexible rewards, competitive rates, zero fraud liability, and 24/7 cardmember service, designed for small business needs.
• Auto Loans New and used vehicle financing for cars, trucks, SUVs, and motorcycles with rates as low as 4.69% APR, up to 100% financing, 90 days no payments, and promotional rate discounts.
• Auto Refinance Auto loan refinancing product enabling members to lower their interest rate or monthly payment, with 90 days no payments and no application or prepayment fees.
• Recreational Loans Financing for boats, campers, RVs, ATVs, UTVs, personal watercraft, and snowmobiles with rates as low as 6.59% APR, terms up to 180 months, and 90 days no payments.
• Mortgage Loans Home purchase financing with fixed-rate and adjustable-rate mortgage options, 3% down payment programs, and current rates as low as 5.375% (15-year) and 6.000% (30-year).
• Mortgage Refinance Home mortgage refinancing options including rate/term refinance and cash-out refinance, plus a Rapid Refi option for faster payoff with lower closing costs.
• VA Home Loans Veterans Affairs-backed home loans for qualified active service members, veterans, and surviving spouses, featuring up to 100% financing, no PMI requirement, and competitive interest rates.
• Home Equity Loans Fixed-rate home equity loans allowing borrowers to receive a lump sum with locked monthly payments, rates from 6.89% APR, terms from 5 to 15 years, and ability to borrow up to 90% of home value.
• Home Equity Line of Credit (HELOC) Flexible revolving credit line secured by home equity, with variable rates and introductory rate options as low as 4.99%, 15-year draw period, and 15-year repayment period.
• Personal Loans Unsecured, secured, and savings-secured personal loans for individual members with unsecured rates from 9.49% APR to 18.49% APR and terms up to 84 months.
• Personal Lines of Credit Revolving consumer credit lines including Flex Line ($3,000-$15,000 at 12.74% APR), FlexPlus Line ($5,000-$25,000 at 11.24% APR), and Overdraft Line ($300-$2,999 at 18.00% APR).
• Student Loans Private student loans and refinancing options offered through partnership with ISL Education Lending, a nonprofit organization, plus scholarship opportunities and free college planning tools.
• Digital Banking Online and mobile banking platform enabling 24/7 account access with mobile deposit, transfers, bill pay, account alerts, eDocs, debit card management, financial health tools, biometric login, and mobile wallet support.
• Insurance Services Insurance products for members including AD&D insurance through Minnesota Life, life insurance through TruStage, and group injury/illness insurance through Zurich American Insurance Company.
• Investment Services Wealth management and investment advisory services through LPL Financial, including retirement planning, tax-advantaged investment planning, education accounts, 401(k) planning, life insurance, and wealth preservation.
• Financial Wellness Financial education and counseling services for members through partnership with GreenPath Financial Wellness, including financial counseling, debt management, and educational resources.
• Shared Branching Member access to over 5,000 shared branch locations nationwide through the Co-op Shared Branch network, enabling deposits, withdrawals, loan payments, and other transactions.

Quantifiable outcome

• Members can earn 63X more than the national average rate on checking accounts (4.50% APY vs 0.07% FDIC national average)
• +2 more outcomes

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• ISL Education LendingminorChannel Partner/ Reseller/ DistributorPartnership to offer private student loans and refinancing options for college students and families. ISL Education Lending is a nonprofit organization with decades of student loan experience offering lower-priced loans. Connexus receives referral compensation for student loan customer referrals.
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerProvides Connexus members access to financial counseling, educational resources, and debt management planning. GreenPath counselors develop customized budgets and action plans. Services include financial counseling, educational articles, and debt management programs. Available to all Connexus members.
• Co-op Shared Branch NetworkcoreChannel Partner/ Reseller/ DistributorProvides access to 5,000+ shared branch locations where Connexus members can make transactions (deposits, withdrawals, loan payments, etc.) as if at their home branch. Critical for serving members outside the branch footprint.
• MoneyPass ATM NetworkcoreChannel Partner/ Reseller/ DistributorProvides access to thousands of fee-free ATMs nationwide. Connexus debit/ATM cards work without surcharges at MoneyPass ATMs. Essential component of nationwide fee-free banking promise.
• TruStage InsuranceminorChannel Partner/ Reseller/ DistributorProvides life insurance policies for Connexus members including $2,000 coverage at no cost, no health questions or exams. Offered through TruStage Insurance Agency and issued by CMFG Life Insurance Company.
• Minnesota Life Insurance CompanyminorChannel Partner/ Reseller/ DistributorProvides Accidental Death & Dismemberment (AD&D) Insurance underwritten by Minnesota Life and administered by Franklin Madison Group. Guaranteed acceptance with no medical exams or health questions for all Connexus members.
• Zurich American Insurance CompanyminorChannel Partner/ Reseller/ DistributorProvides Group Injury and Illness Insurance offering cash benefits for hospital stays due to covered accidents or sickness. Administered by Franklin Madison Group with guaranteed acceptance and no pre-existing condition exclusions.
• LPL FinancialcoreChannel Partner/ Reseller/ DistributorRegistered broker-dealer providing investment and advisory services to Connexus members through Connexus Investment Services Group. Services include retirement planning, tax-advantaged investment planning, education accounts, 401(k) planning, life insurance, and wealth preservation. Connexus receives referral compensation per agreement.
• Elan Financial ServicescoreTechnology or IntegrationIssues and services Connexus credit cards with zero fraud liability protection. Provides 24/7 cardmember service. Cards accepted at millions of locations worldwide with mobile purchasing capability.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Alliant Credit Union: Alliant is a Chicago-based, member-owned digital-first credit union serving consumers nationwide with competitive high-yield checking and savings products. Connexus and Alliant compete head-to-head for the same digitally native, rate-sensitive consumer segment, with similar product-led growth motions and online account opening.
• Ally Bank: Ally is an online-only consumer bank known for competitive high-yield savings, CDs, and a fee-free digital platform targeting rate-conscious customers nationwide. Connexus competes directly with Ally for the same nationwide digital deposit and consumer-lending customer that prioritizes rate and mobile experience over branch banking.
• Discover Bank: Discover is a direct-to-consumer online bank and credit card issuer offering high-yield savings, CDs, checking, and a broad credit card portfolio. Overlap is strongest in the digital deposit and credit card categories where Discover competes with Connexus Xtraordinary Checking and Elan-issued cards.
• SoFi: SoFi is a digital-native bank and broker-dealer offering high-yield deposit products, consumer loans, mortgages, and investment services. Both Connexus and SoFi target nationwide digitally engaged consumers with high-rate deposit acquisition plus cross-sell into lending and wealth products.
• PenFed Credit Union: PenFed is a large, federally chartered credit union offering nationwide digital membership, deposit products, mortgages, and consumer lending. It competes with Connexus in nationwide digital membership, deposit and consumer-lending products, and partner-mediated wealth and insurance services.
• First Tech Federal Credit Union: First Tech is a tech and manufacturing-affiliated credit union with national digital membership, strong product breadth, and a digital-first member experience. Comparable to Connexus in serving a defined-member community while expanding via digital banking nationwide.
• Marcus by Goldman Sachs: Marcus is the consumer-banking arm of Goldman Sachs offering high-yield online savings, CDs, and personal loans with no branch footprint. Overlaps with Connexus in nationwide digital deposit acquisition and personal-loan offerings targeted at rate-driven consumers.

Broad incumbents

• Navy Federal Credit Union: Navy Federal is the largest U.S. credit union with nationwide membership (military-affiliated) operating both digital and physical channels. While its membership niche is different, it is the strongest large-scale analog for a digital-first credit union with national reach and a broad lending/deposit product suite.
• BECU: BECU is one of the largest U.S. community credit unions, serving members in Washington state and beyond via digital and branch channels. Comparable as a large, member-owned cooperative with a broad deposit and lending portfolio and emphasis on digital expansion.
• SchoolsFirst Federal Credit Union: SchoolsFirst is a large California-based credit union serving education professionals and expanding to broader membership via digital channels. It represents a comparable large community-charter credit union scaling deposit and lending products digitally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/connexuscu
• LinkedInlinkedin.com/company/connexus-credit-union

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Connexus Credit Union