Our people-first values-driven life-balanced on-the-pulse giving-back culture.
2022 Annual Report
It’s amazing to be able to talk to a person who goes above and beyond to help. Thank you for the human connection.
Roger, Connexus member
At the end of 2022, we asked our employees to reflect on their experiences at Connexus and answer one simple question:
What inspires you about working for Connexus?
Of the hundreds of thoughtful responses we received, one common theme emerged: Culture.
At Connexus, we define culture as how we get work done together and how we treat each other. It’s that intangible energy or vibe our employees feel in their roles each day — and it directly impacts the work they do and the way they advocate for our members. When employees feel valued, supported, and seen, that heartbeat of our culture can be felt by members through our team’s dedication to excellence and compassionate, personalized service. And when that happens, it’s not just inspiring. It’s a little like magic.
It goes without saying that we’re incredibly proud of the 2022 accolades and achievements published throughout this report. But we’re also profoundly humbled by the positive impact Connexus’ culture has had on our employees, our members, and the communities we serve. On the pages that follow, you’ll read stories told in their own words about financial goals achieved, human connections made, and lives changed. We couldn’t think of a truer measure of our success.
Connexus Credit Union experienced another rewarding year in 2022, illustrated by substantial member value and operational progress guided by our strategic vision. First and foremost, to highlight the progress and continued stability of our credit union, we were proud to offer some of the highest rates on your hard-earned deposits, returning over $61M in dividends to our members and earning the trust of over 87,000 new members across the country. In realizing these exceptional results, we also recognize that our strength as an organization is attributed to our talented employees, so Connexus invested thoughtful time focused on reigniting our culture to attract and motivate talent, improve the employee experience, and reinforce our values-based culture—all in an effort to provide the best possible experience to you, our member-owners.
We were motivated knowing that improving the work experience for our employees would have a direct impact on the quality of the products and services we offered to you; the best performance is truly inspired by the best talent. That has never been more apparent than in 2022, as we experienced sustained growth, accomplished numerous innovative organizational projects, and completed our merger with Heritage Credit Union. These milestones were realized alongside our continued intentional work to remain a safe, secure, and reliable Credit Union that is well diversified, capitalized, and positioned to confidently serve our member-owners for generations to come. And that security and reliability is further punctuated by Connexus’ recognition as a top credit union in the nation by highly respected industry publications including NerdWallet, Forbes, USA Today, and Business Insider, with ongoing recognition for our share certificate rates, checking accounts, loan options, and overall exceptional member experience.
As we proceed into the future with optimism and excitement for what’s in store for 2023 and beyond, we’d like to express our commitment to continually elevating our value to you as well as our gratitude for inspiring us to never stop striving for excellence. We truly believe that the best days are still ahead, and we’re excited to share our progress as we make a greater impact for our members, employees, and the communities we serve. Thank you for your trust and confidence in Connexus Credit Union.
Regards,
Alita Lobner, Board Chair Boyd Gustke, President & CEO
Representatives from the Town of Rib Mountain, Ghidorzi Companies, and the Connexus Board of Directors and Senior Leadership Team break ground on the new Rib Mountain branch set to open in 2023.
Board of Directors
Alita Lobner, Board Chair
Kelsi Seubert, Vice Chair
Shanna Yonke, Secretary & Treasurer
Greg Cullen, Director
Steven C. Derebey, Director
Timothy C. Mulloy, Director
Michael Prestileo, Director
Steve Zeinemann, Director
Senior Leadership Team
Boyd Gustke, President & Chief Executive Officer
Chad Rogers, Executive Vice President & Chief Operating Officer
Ryan T. Gage, Chief Risk Officer
Cheryl Halverson, Chief Human Resources Officer
Eric Huseby, Chief Lending Officer
Claire Meney, Senior Vice President of Member Experience
LaMont Bonham, Senior Vice President of Enterprise Risk Management
Sheila Polak, Senior Vice President of Finance
Heather Ristow, Senior Vice President of Marketing
To learn more about our Board of Directors and Senior Leadership Team, please visit our website.
Best Credit Union of 2022, Kiplinger
Top Credit Union of 2022, Bankrate
Best Credit Union of 2022, NerdWallet
Best Credit Union of 2022, CNET
Best Teen Checking Account of 2022, NerdWallet and Business Insider
Best Free Checking Account of 2022, NerdWallet
Best High-Yield Checking Account, Money Market Account, and Share Certificate Rates of 2022, Forbes Advisor
Surpassed $5B in credit union assets with over $1.3B in annual growth
Returned over $61M in dividends (interest earned) to our members
Gained 27,000+ members, 120 employees, $455M in assets, and 10 branches in our merger with Heritage Credit Union
Each and every department at Connexus is striving to be better, work smarter, and achieve together. There isn’t one that is wholly satisfied with the current state, and that is inspiring!
Connexus employee
Increased Connexus App downloads by 40% and active Digital Banking users by 27%, resulting in more members self-serving their financial needs whenever and wherever it’s most convenient for them
Member Service
Welcomed over 87,000 new members from across the nation
Our Connexus Team
150,000 +37% +28%
Increased staff size by 37% amid a nationwide labor shortage
Enhanced security and efficiency by leveraging voice biometric technology on nearly 150,000 authenticated calls
Engaged in 486,935 Member Contact Center discussions to help our members achieve their financial goals while earning a Net Promoter Score (NPS) 135% better than industry
Employee Recognition
Earned an employee engagement score 28% higher than the Gallup national average
Launched Limelight, a new employee platform designed to strengthen our culture through peer recognition, challenges, rewards, and virtual engagement activities
97% of the entire organization became users of this optional platform
The credit union movement was founded on a simple yet powerful philosophy of “people helping people.” This commitment to helping is deeply rooted in our culture, beloved by employees and members, and brought to life by our philanthropic program, Connexus Cares.
In 2022, Connexus Cares continued its mission of giving with purpose by thoughtfully allocating resources to organizations providing basic humanitarian needs (food, shelter, and crisis services) as well as those advocating for seniors, veterans, and at-risk youth. Following the highly anticipated post-pandemic relaunch of our Volunteer Time Off (VTO) program this year, our employees were thrilled to once again support their favorite organizations in person by volunteering during their workday — and together logged over 3,000 hours of serving the community. Connexus Cares wrapped up the year in the warmth of holiday spirit by adding a new giveback effort, Voices of the Season, to our much-loved annual Season of Giving campaign. Employees nominated their favorite non-profits, and we made donations to the five organizations earning the most votes in addition to smaller contributions to every nominee. During the holiday season and always, we’re grateful for our generous and big-hearted Connexus team members who passionately advocate for the non-profits doing life-changing work in their communities.
I read to children in a garden in the very community I grew up in! I helped with harvesting and learned how the garden supports people within the community. It was very insightful because I didn’t realize how many people were involved in such a phenomenal project dedicated to helping the community stay healthy.
Te’sah, Connexus employee
Te’sah Hemphill, Connexus employee, on her experience using Volunteer Time Off (VTO) hours to support a community garden in her own neighborhood.
Total Connexus Cares Giveback since 2019: $8,544,030
Total Connexus Cares Giveback in 2022: $3,500,472
Heritage Credit Union Legacy Fund: $1,000,000
National Charities: $384,875
Food Insecurity Organizations: $397,200
Shelters and Housing: $345,000
At-Risk Youth Programs: $225,250
Senior Services: $190,000
Veteran Programs: $153,000
Season of Giving: $311,827
Please see our 2022 Connexus Cares
Annual Impact Report to learn more about our philanthropic efforts.
The many accomplishments we’ve achieved over the past year would not have been possible without one of our most critical resources: our dedicated and driven Connexus team. Although we certainly value their professional contributions to the success of our members and the organization as a whole, we also deeply appreciate our employees for the people they are and for the humanity they bring to their roles each and every day.
To ensure our employees have the resources and support they need to thrive both personally and professionally, we are committed to building a culture that holistically cares for and invests in them — so that they are inspired, in turn, to invest in our members. In 2022, we supported our employees’ personal wellbeing with industry-leading Paid Time Off (PTO), Volunteer Time Off (VTO), health plan coverage, and 401(k) match. To advocate for employees’ professional wellbeing, we offered the flexibility to work remotely in conjunction with team-building events to promote connectedness and belonging. Employees also enjoyed access to robust professional development tools, such as tuition reimbursement, career path mentoring, and an individualized Learning & Development portal.
In addition to the benefits listed above, we understand the importance of investing in our employees through recognition. In 2022, over 100 employees were nominated by their peers to receive a Connexus Recognition Award for demonstrating an exceptional commitment to Connexus and those we serve. Please join us in congratulating this year’s winners who went above and beyond to serve our members, assist our communities, and support each other in meaningful ways.
Achieving Excellence Award
Sengsai Thao
Connexus Values Award
Linda Willis
Connexus Cares Giveback Award
Bailey Sleeper
Connexus Vision Award
Member Outreach Department
Connexus Leadership Award
Courtney Banker
Connexus Member Experience Award
Joy Harwood & Britney Almquist
I love how much Connexus cares for its employees. We have incredible benefits and leaders who truly care for our wellbeing not just as employees, but as people.
Bailey, Connexus employee
The people who work at Connexus are what makes it different. It shows in how you’re treated, how responsive they are to requests, and how they find the time to get to know you.
Kellie, Connexus member
Connexus’ Volunteer Time Off benefit has been life-changing for me. I feel more connected to my community and colleagues, and am grateful to work for an organization that prioritizes giving back.
Mike, Connexus employee
To be a nationally relevant, trusted credit union, providing exceptional experiences and fostering prosperity for those we serve.
It’s no coincidence that our values-based culture aligns so closely with the longstanding credit union philosophy of “people helping people.” Making life better for our members and fostering prosperity for those we serve was the very reason Connexus was founded 88 years ago. And it’s the reason we still exist as a nationally relevant, trusted credit union today.
As we look to the future, providing exceptional experiences to members remains our priority — and it starts with investing in our employees by promoting a culture that inspires excellence and the living of our values. In 2023, we’ll continue to do just that by developing robust employee engagement tools, including feedback interviews, roundup meetings, and surveys; educating our employees on the comprehensive resources we offer to support their personal, professional, and financial wellbeing; and continuing to give back to the communities we serve by sponsoring paid Volunteer Time Off.
Through the many thoughtful initiatives planned for 2023, we look forward to elevating the people-first culture our employees and members know and love to new heights. To do so, we’ll continue to lean into the feedback we receive about what our team and members need to reach their goals. Because in the end, it’s their stories that move and inspire us to deliver excellence so that we can accomplish great things. Together.
We have a strong, exceptional vision and roadmap for the future to guide all employees and members. Proud to be with Connexus.
Connexus employee