WAUSAU, Wis.– Connexus Credit Union said it has surpassed $5 billion in assets, a significant milestone in the organization’s “87-year history of serving members nationwide while leading the credit union industry with innovative and competitive products and services.”
Founded in 1935 as Employers’ Mutual Credit Union, Connexus’ mission was to provide the Wausau community with a member-owned alternative to corporate banks. In 1975, the credit union celebrated its 40th anniversary with more than $10 million in assets; it eclipsed $3 billion in assets in 2020. Over the years, Connexus said it has undergone two re-brandings and completed nine successful mergers while maintaining a steadfast commitment to the credit union philosophy of “people helping people.”
“It’s both rewarding and exciting to witness Connexus’ strategic growth over the years, and the $5 billion asset achievement is something we don’t take for granted,” said Boyd Gustke, Connexus president & Chief Executive Officer. “It’s important to remember that we wouldn’t have gotten to this point without the trust of our member-owners—and for that, we are incredibly grateful. We look forward to continued success and opportunities to give back even more to our members, employees, and the communities we call home.”
In addition to a merger with Heritage Credit Union that was finalized last month, Connexus said it attributes its growth to its commitment to low fees, competitive rates, and community giveback, all of which attract new members.
“The organization reduced fees by a drastic 86% last November and, at the time of this release, was offering yields over 24 times the national average for checking and 700% more than the national average for money market accounts,” the credit union said. “Through its philanthropic Connexus Cares program, the credit union donated over $2.5 million last year to various local and national causes and is poised to exceed that giveback amount in 2022.”
Connexus currently employs over 630 employees and serves over 440,000 member-owners across all 50 states.