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Dear Members,

85 Years of Fulfilling Members' Possibilities

I know it’s not a traditional anniversary that you’ve had on your calendar plans this year, but for Connex Credit Union, it’s our 85th anniversary this year - a milestone we are celebrating that fills me with immense pride. When Connex was founded in 1940 as the New Haven Telephone Employees Federal Credit Union, I doubt the ten original employees could have envisioned the company growing to serve over 70,000 members with more than $1 billion in assets. Yet, even as we’ve grown, our commitment today remains essentially the same as it was 85 years ago: “Improving the financial well-being of our members, employees, and the communities we serve.”

We have some exciting events planned along with some special offers this year, particularly throughout our anniversary month in July! Be sure to check our website and eNewsletters for our latest updates. If you’re not already subscribed to our eNewsletter, sign up at connexcu.org — just scroll to the bottom of the page and click "Join”. 

More Possibilities to Earn Higher Interest Rates and Other Benefits

At Connex, we’re dedicated to helping our members achieve financial success. Our Pathways Savings balances earn a high rate of 3.50% Annual Percentage Yield (APY) on balances up to $1,000. Balances over $1,000 earn our standard rate of 0.05% APY. This high-rate savings account is a great incentive to build your emergency fund or save for a special purpose. Opening a Pathways Savings account is easy! Just visit us at connexcu.org to see full disclosures and open it online. You can also stop by a branch during normal business hours. 

Also, qualifying Plus Checking members will earn 1.50% APY on balances up to $25,000 with no monthly service fee. You’ll also save money with rebates on foreign ATM transactions while enjoying free convenience services like Online Banking, eStatements, Bill Pay, and more!  Visit us at connexcu.org to see full disclosures and open online. 

Don’t forget to enroll in direct deposit with any Connex Checking Account so you can take advantage of Early Payday. It’s easy, with no fees or enrollment! You simply have to have direct deposit and you’re eligible to receive your paycheck up to one day early as an automatic feature. Other types of qualifying direct deposits include tax refunds, unemployment benefits, Social Security, military and pension payments, and Advance Child Tax Credits. 

Don’t have direct deposit? Contact your Human Resources (HR) department or Government Agency for enrollment instructions and automatically get your recurring income deposited into your account(s). You’ll need to know Connex's routing number, which is 211178200.

And, don’t forget to visit our website or social media regularly to see our latest deposit promotions! 

Business Checking Solutions

For our small business account users, we’ve had a lot of success recently transitioning other business account users from their banking relationships due to high fees, high minimum balances, and just plain poor service. We know that you need a flexible checking account that doesn’t burden you with never-ending restrictions and fees. Connex offers three business checking accounts designed to move your business forward with financial tools, services, and dedicated support all in one convenient place. All Connex Business Checking accounts come with NO fees on deposit checks or rolled coins, NO fees on cash deposit processing, access to Clover® Merchant Services, a free first box of checks, free online banking with bill pay, a free Business VISA® debit card, and a free endorsement stamp.

Select the business checking account that’s right for you:

• Complete Business Checking: no monthly fee
• Complete Business Checking Plus: Earn 0.10% Annual Percentage Yield (APY) and  monthly fee with a $1,000 minimum balance (otherwise, a $14.95 fee applies)
• Complete Business Checking Non-Profit: no monthly fee and balances earn 0.10% APY 

Please visit our website at connexcu.org for full disclosures and speak with a financial advocate at one of our local branches to discover the best financial business solution for your small business.

More New Features Coming in 2025!

Our goal at Connex has always been to provide you with the best banking experience possible. So far, in the first quarter of this year, we’ve introduced:

• Debit Card Lock: You can now lock and unlock your Connex Debit Card if it’s ever lost or stolen, giving you full control through Online Banking or in the Connex Mobile app. 
• Digital Debit Card: If your Connex Debit Card is ever lost or stolen, we will issue you a digital Connex Debit Card while your physical card is being processed. With a digital Connex Debit Card, you can continue to make purchases and access cash at ATMs using your smartphone’s digital wallet. 

I am excited to share that several new features will soon be available, including: 

•  Zelle®: Zelle is a free, fast, and easy way to send and receive money to friends, family, or small businesses with just a U.S. mobile phone number or email address. Funds are available within minutes if they’re already enrolled with Zelle. 
• Goal Builder: Goal Builder helps you reach your financial goals by virtually setting aside dollars within your online or mobile account. You can create your own goals or select from predefined goals such as a rainy-day fund, education, vacation, vehicle purchase, and many more. 

These are just a few of the new features and benefits we can now provide you with because of our new core processing system. As you know, the new core processing system was made available to you for the first time on October 1, 2024. That upgrade included changes to account structures, interfaces, procedures, and functionality, and it was not unusual nor unexpected that we would experience hiccups with a system upgrade of this magnitude. Overall, I was very pleased with how our team performed, as well as how our members remained patient and understanding during this transition.  Six months after the conversion, there are still some peculiar issues we are working through, but the majority of the initial issues that affected less than 1% of the membership were resolved within the first three months following conversion. Please know that we will not be complacent and will work until these last remaining concerns are resolved. 

We Take Your Financial and Information Security Seriously

In recent months, we have become aware that some Connex members have received phone calls from fraudsters “claiming” to be employees of Connex Credit Union. The call may look legitimate and may look like it matches our name and phone number; however, caller IDs can be easily manipulated and are not a good way to confirm the identity of the caller. In some cases, the fraudster triggers a “Push Notice” on the member’s mobile phone and asks the member to reply.

Please remember that Connex will never contact you by phone, email, or mobile text message to request personal and sensitive information, including personal identification number (PIN), mother’s maiden name, passwords, security codes, account numbers, usernames, social security number, birth date, or any other personal or account information.

We have added security measures for your Online and Mobile Banking experience, like the Multifactor Authentication (MFA) feature, which provides an additional layer of protection from fraud and identity theft. MFA allows us to recognize you as the true owner of your account by recognizing not only your login information but also your computer. If we don't recognize your computer or cell phone, you will be requested to verify your identity with your phone via text or voice call to authenticate yourself into the Online/Mobile Banking experience. This feature does not prevent you from logging in from another computer. If we do not recognize the computer that you are using, then we will simply ask for additional information that only you know (a verification code) before allowing you access.

When you register for Online or Mobile Banking, you must also have a phone handy and provide the phone number to receive your access code. You will need this phone every time you need to receive an access code. You will have the ability to register up to two phones. Our security standards make it even safer for you to monitor and manage your money while safeguarding against unauthorized access to your accounts. 

How to Spot Phishing Scams

Phishing scams are deceptive tricks used by cybercriminals to steal your information. They can appear in emails, texts, or calls, often mimicking legitimate sources. Here are some tools on how to identify phishing scams and protect yourself:

• Check the Sender’s Email Address: Phishing emails often come from addresses that look similar but are slightly off. Always check if the email domain matches the company’s official domain. If it doesn’t, be wary. (Example: instead of support @ paypal.com, which is correct, you might see something like “support @ paypall.com” or pay-pal @ secure.com. The latter two examples are false.)
• Look for Urgent Language: Scammers use urgent or alarming language as scare tactics to prompt immediate action. Phrases like “Your account will be suspended!” or “Action required now!” are red flags.
• Verify Links: Hover your mouse over any links to see the actual URL. If the link looks suspicious or doesn’t match the context of the message, don’t click on it.  These fictious links often can be used to deliver malicious software.
• Check Attachments: Be wary of attachments from unknown sources, especially ones you weren’t expecting. PDFs, Word documents, and particularly executable files (such as .exe, .bat) can be used to deliver malicious software.

Additional tips to keep you safe:

• Verify the Message’s Authenticity - Contact the Source Directly: Reach out to the company or sender of the email using official contact details to confirm if the message is genuine.
• Check for Errors: Watch for spelling and grammar mistakes, which can be indicators of a phishing attempt.
• Use Security Tools - Email Filters: Enable tools to identify and block potential phishing emails. 
• Antivirus Software: Ensure your devices are protected with the latest security software.

We work diligently to protect your sensitive information and are continuously training staff and educating members about the risks that we all must be mindful of. If you suspect that the person is a fraudster, hang up and call the institution directly yourself. If you suspect that there is fraud or the potential for fraud on your Connex account, call us immediately at 1-800-CR-UNION or (203-603-5700). 

ConnexCares Awards $50,000 in Charitable Grants

As an official charitable entity, ConnexCares seeks to address our community needs by promoting financial literacy, providing financial assistance for education, addressing children’s health needs, responding to food insecurity needs, and engaging in related volunteer and philanthropic activities in the greater New Haven area. Connex Credit Union established a Charitable Donation Account with an initial investment of $5 million and a goal of donating at least $500,000 in earnings from that investment to ConnexCares over a five-year period. 

In 2023, ConnexCares began its Grant Program, awarding grants to designated non-profit organizations that provide programming or services within at least one of our three pillars (financial literacy, children’s health, and food insecurity) in the communities we serve. Since then, ConnexCares has awarded almost $200,000 in grant funds.

During our fourth round of applications, ConnexCares received dozens of applications from local, worthy organizations. Our ConnexCares Board had the very difficult task of selecting which organizations would receive grant funds. In the end, seven non-profit organizations were selected, and ConnexCares made a total donation of $50,000 in charitable funds. I am proud to share the recipients of these grants with you; they include: Boys & Girls Club of Meriden which supports under-served, at risk, majority minority populations, CMWP Foundation of New Haven provides financial literacy training program to minority populations, Jubilee Christian Sanctuary of Bridgeport provides quality health care to those without access to care, Purple Pantry Boxes of Milford provides food to seniors, the working poor, and the unhoused, LivFree Trumbull provides support to kids and families fighting pediatric cancer; I am The Voice of New Haven provides support for at-risk and disconnected youth in underserved communities, and Children in Placement who provides support services of child victims of abuse and neglect. 

As President and CEO of Connex, I am profoundly grateful to the ConnexCares Board for their dedication in reviewing applications and making the difficult decisions required in this process. It is truly rewarding to see the incredible impact we’ve been able to make by supporting so many remarkable nonprofits in their tireless efforts to uplift and give back to our communities.

Connex in the Community

Connex participated in a career fair at Guilford High School in late February as well as a Financial Reality Fair at Shelton High School on March 21. We also have more Financial Reality Fairs planned shortly, including one at Trumbull High School in April. 

We also provided customized Financial Literacy education at Engineering University Magnet High School in West Haven, at Good Path - a Goodwill Re-Entry program for formerly incarcerated community members in New Haven, at the Dixwell Community “Q” House in New Haven, with Advancing CT Together in Waterbury and Hartford, and we are an active financial resource at the Community Dining Room in Branford and East Haven every month. 

With the warmer weather, we have also planned several volunteer opportunities for our employees with Habitat for Humanity of Greater New Haven. Throughout our history, Connex has demonstrated its commitment to corporate and community organizations that align and focus on our mission, vision, and geography. In 2022, we added paid time off to be used for community service. Providing employees with paid time off for community service not only supports meaningful causes like Habitat for Humanity but also strengthens employee engagement and retention. 

Member and Community Impact Report

Our third publication of our Member and Community Impact Report (MCIR) is ready and will be available this week on our website at connexcu.org/member info & resources. The MCIR is different from a traditional financial statement as the MCIR communicates the impact Connex has had on our members, our employees, and the communities we serve, as well as some of the efforts we will continue to focus on in the future. 

Our third publication of our Member and Community Impact Report (MCIR) is ready and will be available this week on our website at connexcu.org/member info & resources. The MCIR is different from a traditional financial statement as the MCIR communicates the impact Connex has had on our members, our employees, and the communities we serve, as well as some of the efforts we will continue to focus on in the future. 

For example, one highlight is our total member giveback of over $12 million, including ATM refunds, dividends, fee refunds, and more. Another is that we proudly served 140 families in achieving the home of their dreams, with 50% being first-time homebuyers and 19% with low-to-moderate incomes. We also made over $246,000 in charitable donations, and our employees volunteered almost 600 hours in the community. I hope that you will take a few moments to review this report and learn more about these accomplishments and others. The MCIR demonstrates how your credit union, with you as an owner-member, is committed to its members and our communities, so when you bank better, you can live better. 

ConnexCares: Applications for Scholarships Opening Soon

The ConnexCares Board is thrilled to inform members that we are again offering 15 scholarship opportunities. This wonderful initiative will undoubtedly have a significant and positive impact on recipients and the community. These $2,000 scholarships include one John R. Edwards Community Involvement Scholarship, one Arthur B. Haeshe Memorial Scholarship, one Nicolas G. Hackett Memorial Scholarship, one Dave F. Clark Art and Music Scholarship, five Merit Scholarships for students who are residents in New Haven, West Haven or Hamden, and six Merit Scholarships for students who reside in other towns located in Hartford, Middlesex, New Haven, and Fairfield County. Please visit our website, connexcu.org, for more information on these scholarships and how to apply. 

Long-Time Member and Valued Employee’s Retirement

After an incredible 42 years of dedication and service, our most tenured employee, Tamara Martin, will be retiring on April 3, 2025.

Tamara’s journey with Connex began when we were still New Haven Telephone Employees Federal Credit Union, starting as a part-time teller. Her passion for excellence and commitment to growth quickly propelled her forward. Within just three years, she stepped into the role of Branch Manager, setting the stage for an impressive career.

In 2007, Tamara was promoted to Mortgage Lending Manager, and by 2008, she became our Director of Mortgage Lending, playing a vital role in shaping our mortgage services. In 2021, seeking a change of pace, she transitioned to Mortgage Loan Reviewer, a role she has excelled in until today.

Tamara’s contributions to Connex have been truly immeasurable. Through every role she has held, her dedication, expertise, and passion have been integral to our success. While she will be missed, I am excited for her to embark on this well-earned retirement.

2025 Annual Meeting

The 2025 Connex Annual Meeting will take place virtually via Zoom on Friday, April 25, at 11 A.M. As customary, reports from representatives of the Board of Directors and the Supervisory Committee will be presented. In addition, the results of the Board elections will be formally announced and recorded. Please remember that our Board and Supervisory Committee members are members as well, who selflessly volunteer their time to help oversee and monitor your credit union, so it is also a time to thank them for their service.  If you would like to attend, you must have been a member with at least $25 (par value) in your Share Savings Account as of December 31, 2024, and you must register for this event on our website by April 23, 2025.

Our credit union has already experienced much success throughout the first quarter of 2025, and I am enthusiastic about another prosperous year. Thank you for your continued dedication to Connex, and we look forward to helping you achieve your financial possibilities now and long into the future.