“New money” is defined as funds not currently held at Connexus Credit Union. Funds deposited at Connexus within the past 30 days qualify as new money; however, funds withdrawn within 30 days and subsequently redeposited do not qualify.

Absolutely! You can mix new money and existing funds held at Connexus, as long as at least $5,000 of the total opening deposit is newly deposited money. “New money” is defined as funds not currently held at Connexus Credit Union. Funds deposited at Connexus within the past 30 days qualify as new money; however, funds withdrawn within 30 days and subsequently redeposited do not qualify.

Dividends are earned daily using the daily balance method and are compounded and posted to your account quarterly.

Dividends will be posted to your account each calendar quarter. We use the daily balance method to calculate the dividends on your account. This method applies a daily periodic rate to the principal in the account each day.

Throughout the term of the Certificate, dividends will be posted on the last day of March, June, September, and December. Dividends will be automatically reinvested into the Certificate; however, you can request to have the dividends automatically posted to another Connexus account quarterly.

A penalty may apply if you withdraw funds before the Certificate maturity date.

• If your account has an original maturity date of one year or less, the penalty will equal 90 days of dividends on the amount withdrawn subject to penalty.
• If your account has an original maturity date of more than one year but less than five years, the penalty will equal 180 days of dividends on the amount withdrawn subject to penalty.
• If your account has an original maturity date of five years or greater, the penalty will equal 365 days of dividends on the amount withdrawn subject to penalty.

Not exactly. Although the two products are similar in structure, the key difference is where they are offered. CDs are available through for-profit banks, while Certificates (sometimes called “Share Certificates”) are offered through not-for-profit, member-owned credit unions like Connexus.

There are also differences in insurance. Although the federal government backs both CDs and Certificates, the FDIC insures banks and the NCUA insures credit unions.

Yes. The NCUA’s Share Insurance Fund insures individual accounts at federally insured credit unions to at least $250,000. The fund is administered by the NCUA and is backed by the full faith and credit of the United States.

Like CDs, regular Certificates typically have fixed terms ranging from one to five years.

Yes. Certificates offer competitive yields, and the returns are guaranteed. Use our Certificate Earnings Calculator to estimate your returns. Then, see our current Certificate rates to find the term right for you.

Yes!  We do require you to become a member, but you can join Connexus by opening an account with us. Apply for membership at the same time you apply for your Certificate account.

To apply for a Certificate online, you will need the following:

• Valid, government-issued photo ID (Acceptable options: Driver’s License, U.S. Military ID, U.S. Passport, U.S. State or Tribal ID, Permanent Resident Card, or a foreign government-issued document evidencing nationality or residence and bearing a photograph).
• Applicants without credit history: In addition to a valid, government-issued photo ID, a copy of your signed Social Security Card or ITIN.
• Minor Applicants: Valid, government-issued photo ID, if available, and Social Security Card or ITIN (signature on card is not required).

It may take one to three business days for your application to be processed. You will be notified via email whether your account has been approved. Don’t want to wait? Check your application status now.

If you have a standard or Jumbo Certificate, it will automatically renew on the maturity date to the then-current yield.

If you have a Bump-Up Certificate, at maturity it will automatically renew to a new 24-month Bump-Up Certificate at the then-current yield. Your renewed certificate will allow you to bump the yield once during the new term.

Note about our special term Certificates: If you have a “special” Certificate, meaning a Certificate with a term other than 3, 6, 9, 12, 24, 36, 48, or 60 months, the related renewal will be disclosed to you before account opening.

We will send you a Certificate Maturity Notice via mail or, if you are subscribed, via an eNotice in your Digital Banking account’s “Statements and eDocs” section. This notice will contain the official Certificate maturity date.

Your Certificate has a grace period of ten (10) calendar days after maturity during which you can make changes or withdraw funds without penalty. During this 10-day window, please call 800.845.5025 to receive assistance or make an appointment at a branch. You can also send a message through Digital Banking.