The Connexus Credit Union has a very attractive money market rate of 2.00% APY offered for their Y.E.S. Money Market account. The current interest rate is posted on the website as of January 4 but this can be changed any time.

The money market rate can be earned if you maintain a balance over the $1000 line. The credit union allows the account holder to make a deposit any time and in any amount. The interest of the account is compounded on a monthly basis.

Like other money market accounts, take out from the funds are limited to six. Three of this can be checks. Withdrawals must be at least $250. Any check written for less than $250 will be honored and cleared but there is a stiff fee of $29.95.

Other perks that come with this money market account are free phone banking, mobile banking, online banking, online bills payment, and free electronic statements. You can also set up a direct deposit.

There is an online application to open the money market account. You may also call 800-845-5025 to know the details of the terms and conditions.

The Connexus Credit Union accepts sign ups from the Connexus association which practically accepts anyone for a $5 donation which they use as scholarship funds.

Connexus Credit Union is headquartered in Wasau in Wisconsin. They also have offices in Ohio and New Hampshire. It seems that this credit union started out as an employee group for the Liberty Mutual Insurance. Most of Connexus offices are in the branches of Liberty Mutual.

It is covered by the NCUA through charter number 66538. The credit union has some good ratings. Bankrate.com issued 3 stars for its performance while BauerFinancial stamped 4stars for soundness and safety. These evaluations are based on their March 2009 financial data.