Conexus Credit Union Review
Conexus Credit Union at a glance
🏦 Conexus Credit Union was founded in 1937 as the Regina Co-operative Savings and Credit Union. Today, Conexus is one of the largest credit unions in Saskatchewan.
Conexus Credit Union account options
Savings
Chequing
Mastercard credit cards
Investing
Other Conexus Credit Union services
Loans
Mortgages
Lines of credit
Business and agriculture accounts and financing
Pros and Cons of Conexus Credit Union
There’s plenty to like about Conexus Credit Union, but no bank or credit union is without its drawbacks. Here’s what to consider before you open an account.
Pros
- Variety of financial offerings geared toward personal, business and agricultural needs.
- Like all credit unions, it’s owned and run by its members.
- Community support and sponsorships.
Cons
- Savings accounts offer lower interest rates compared to online banks.
- Most branches are located in south Saskatchewan.
- Only offers Mastercard credit cards.
Conexus Credit Union overview
Conexus Credit Union is a Saskatchewan-based credit union with 30 branches across the province and more than 8030 employees. As a co-operative organization, Conexus Credit Union prioritizes co-op principles like democratic member control, member economic participation and concern for the community.
Community support plays a large role in this co-operative organization. Conexus partners with a number of local programs that promote financial wellness and literacy. Other initiatives that Conexus supports include the Regina Food Bank, SOFIA House Employment Program, Lung Saskatchewan, Dress for Success, and more. Conexus Credit Union also sponsors 20 youth each year to attend Camp Kindling, a camp designed to develop leadership skills and promote community involvement.
This community support is driven by over 141,000 members who trust Conexus Credit Union with their financial needs. Conexus offers a large range of financial products for individuals and businesses, as well as a few products tailored for people who work in the agricultural sector. Banking can be accessed in person at a local branch, over the phone, online or via the Conexus Credit Union app.
Online banking capabilities at Conexus Credit Union
Conexus Credit Union offers online banking from the website (https://banking.online.conexus.ca/), where members can log in using their member card debit number and password, and via the Conexus mobile app.
The Conexus mobile app is available for iPhone, iPad, iPod Touch, and Android devices. Through the mobile app, members can complete the following financial tasks:
Check account balances.
Pay bills.
Transfer money between accounts.
Manage scheduled payments.
Send and accept Interac e-transfers.
Find the nearest branch or ATM.
Deposit a cheque.
Is my money safe at Conexus Credit Union?
Money in your Conexus Credit Union account is 100% guaranteed by the Credit Union Deposit Guarantee Corporation (CUDGC), which guarantees the full repayment of deposits held at participating Saskatchewan credit unions. There is no maximum amount of coverage for chequing and savings accounts, term deposits and other deposits, but stocks and mutual funds are not covered.
When it comes to online banking, Conexus Credit Union has several high-security measures in place to protect your personal information and finances. This includes 256-bit encryption, robust firewalls, automatic session time-outs, and continual monitoring. As always, it is also up to you to keep your personal and online banking information secure.
Conexus credit cardholders can sign up for free real-time text alerts to help prevent fraudulent transactions. While fraud specialists monitor your account at all times, this extra security feature can better protect your personal financial information. Conexus Credit Union credit cards are all from Mastercard, so they also offer purchase protection.
Conexus Credit Union account types
Conexus Credit Union offers a range of savings accounts, chequing accounts, credit cards and other financial products. Options may vary depending on whether you are looking for individual or business products. Specialized account options are also available for people who work in agriculture.
Conexus Credit Union chequing accounts
Personal No-Fee Chequing Account: This non-interest bearing account charges no monthly or recurring fees and has no minimum balance requirement. It includes unlimited deposits, withdrawals, transfers, incoming Interac e-transfers and bill payments, and up to 30 outgoing Interac e-transfers. Additional e-transfers cost $1.50 each.
Personal U.S. Chequing Account: No monthly fee, though transfers and pre-authorized debit transactions cost $0.60 to $1. This account earns a modest tiered-interest rate based on your balance.
Business Basic Chequing: This bare-bones business chequing account costs $5 per month plus pay-as-you-go fees for transactions. It can be combined with a Business 30, 60, 120, or 240 package for more transactions.
Business 30: Up to 30 transactions per month for $25. Account holders can choose to receive either print or digital monthly statements and access a line of credit as needed.
Business 60: Up to 60 transactions per month for $45. Otherwise, the features are the same as Business 30.
Business 120: Up to 120 transactions per month for $80, plus all the same features as Business 30.
Business 240: Up to 240 transactions per month for $135, plus all the same features as Business 30.
Business U.S. Chequing: Manage your business’s U.S. dollar income and expenses without having to convert funds. This account earns interest following a tiered structure.
Agriculture Chequing: Although agricultural accounts have their own page on the website, the options appear to be the same as other business accounts. The basic account can be integrated with a Business 30, 60, 120, or 240 plans based on the usage and transactions needed.
Conexus Credit Union savings accounts
Personal Savings Account: This account includes two free transactions per month and additional transactions cost $5 each. Tiered interest is earned at rates from 0.80% to 1.40%, depending on your account balance. Statements are provided electronically.
Business Savings Account: This account offers tiered interest from 0.80% to 1.40%, based on your account balance.
AgriInvest Account: This account is specifically for members who work in agriculture and participate in the Government of Canada’s AgriInvest program. It offers an interest rate of 1.40%.
Agriculture Savings Account: Also designed specifically for members who work in agriculture, this account offers tiered interest from 01.810% to 1.470% depending on your account balance.
Conexus Credit Union credit card accounts
Conexus offers six different Mastercard credit card options, including a travel rewards card, a U.S. dollar card and a student credit card.
Conexus Cash Back Mastercard.
Conexus Centra Gold Mastercard.
Conexus Travel Rewards Gold Mastercard.
Conexus U.S. Dollar Mastercard.
Conexus World Mastercard.
Conexus Student Mastercard.
Conexus Credit Union investing accounts
U.S. dollar term deposits.
Stocks, bonds, exchange-traded funds (ETFs) and mutual funds.
Other Conexus Credit Union services
In addition to the financial products listed above, Conexus Credit Union offers several other services for both personal and business financial needs.
Personal services include:
QuickLine line of credit.
RRSP QuickLine line of credit.
Home Plus Plan (home equity line of credit, or HELOC).
STUDENTCHOICE education loan.
Dealer financing car loan.
Business and agricultural services include:
Term loans.
Canadian Small Business Financing Loans.
Canadian Agriculture Loans Act (CALA).
Farm Transfer Program.
Leasing.
QuickLoan.
Line of credit.
Letter of credit.
Blanket QuickLoan.
Business owner-occupied mortgages.
Investment mortgages.
Conexus Credit Union fees
Bank fees can vary based on the accounts you have and how you use them. Here are some of the common fees you may encounter using Conexus Credit Union’s financial products and services:
Non-sufficient funds: $45
One-year inactivity fee: $25
Overdraft items: $5 + 21% interest/year (rate may vary)
Transfer out fee for RRSP/RESP/RRIF/TFSA: $100
Closing membership within 180 days of opening accounts: $30
Who is Conexus Credit Union best for?
Saskatchewan residents who prefer to bank with a co-operative institution and support their local community.
As one of the largest credit unions in Saskatchewan, Conexus Credit Union offers a variety of financial options for both individuals and businesses, as well as specific solutions for those working in the agricultural sector. Conexus also shows remarkable community involvement by supporting local initiatives and partnering with nonprofits.
How Conexus Credit Union compares to other credit unions
MOBILE AND ONLINE BANKING | ARE DEPOSITS INSURED? | |
|---|---|---|
Yes. | Yes, by the Credit Union Deposit Guarantee Corporation. | |
Yes. | Yes, by the Credit Union Deposit Guarantee Corporation. | |
Yes. | Yes, by the Canada Deposit Insurance Corporation. |
» MORE: Check out our Banking Reviews of other Big Banks, credit unions and online-only banks.
Frequently asked questions
Is there a Conexus Credit Union Mastercard?
Is there a Conexus Credit Union Mastercard?
Yes. The Conexus Credit Union offers personal Mastercard credit cards for no fee, students, travel and cash back. Business Mastercard credit cards at Conexus include low-interest, no-fee and rewards options.
Is there a Conexus Credit Union in Regina?
Is there a Conexus Credit Union in Regina?
Yes, Conexus Credit Union has five branch locations in Regina.
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