First of all, we want to thank you for your patience regarding the recent service outage with MyCoVantage remote deposit. The outage was due to a severe outage at the data center of our service provider and was significantly longer than anticipated. It affected not only CoVantage Credit Union members, but many other financial institutions nationwide. We are happy to report that remote deposit is available to use once again.
We understand this may have caused inconveniences with your financial needs and are actively seeking solutions to avoid this type of situation in the future. Watch for remote deposit enhancements coming in the future, which may require you to re-enroll.
Additionally, beginning on July 1, 2018, you will be required to write “For Mobile Deposit Only” below your signature on the back of each check deposited with remote deposit in your MyCoVantage app.
This update will improve the feature’s safety to make sure checks cannot be deposited multiple times. It’s the result of a regulatory change across all financial institutions.
If you have any questions, please contact us at 715-627-4336, option 4.
Lindsey Mueller, Financial Literacy & Community
Outreach Coordinator at CoVantage Credit Union, is one of 47 credit union
professionals recently certified as Credit Union Development Educators (CUDEs)
after completing the National Credit Union Foundation’s Credit Union
Development Education (DE) Training.
DE Training is an experiential training program that provides lessons in credit union structure, purpose and how they differentiate from other financial institutions. During the National Credit Union Foundation’s week-long program, participants are involved in group exercises, field visits and interactive speaker sessions that provide insights into how credit unions can leverage their unique business model to help their members and communities overcome the financial and developmental issues they face. Learn more at https://www.ncuf.coop/news/press/june-de-class-graduation.cmsx
Charlie Zanayed, President/CEO of CoVantage Credit Union, shared Larson's excitement in bringing the two financial cooperatives together, saying, "We are humbled and thankful for this opportunity, and look forward to being able to serve the communities of Neenah, Appleton, and Menasha with branch locations and state-of-the art technologies. We feel CoVantage has a lot to offer the members of CentralAlliance Credit Union, including great rates and low fees; a full line of loan and deposit services for personal and business use; an extensive network of ATMs; 7 am to 7 pm Contact Center hours; extended branch hours; and much more. In addition, CoVantage member-owners have benefited from the success of their cooperative by receiving patronage, similar to CentralAlliance's Loan Rewards Program. Last year's patronage was the 36th consecutive year our directors authorized patronage to borrowers and savers, and it amounted to just over $3 million returned directly to our members."
Zanayed continued, "With this merger, CentralAlliance members will join a strong, progressive credit union whose mission is to welcome all and to provide member-owners with outstanding financial value. For eleven consecutive years, CoVantage has been ranked in the top 1% of credit unions in the nation for providing member value as measured by Callahan and Associates, an independent credit union research company. In addition to every day value, CoVantage strives to deliver exceptional service to all members, regardless of wealth, on a daily basis. As our Board of Directors and myself learned more about Central Alliance, we have been impressed with how similar our credit unions operate and serve both our members and our communities. We look forward to serving these members and communities well for many years to come."
Started in 1934, CentralAlliance Credit Union has total assets of nearly $80 million. CoVantage Credit Union, founded in 1953 and headquartered in Antigo, has assets of $1.56 billion and serves over 103,000 member-owners through 16 offices across Wisconsin and Upper Michigan.
CentralAlliance Credit Union will be sending out a letter explaining more about the proposed merger, as well as a Question & Answer sheet that will answer many member questions. In addition, members may call Tonni Larson at 920-720-2572 Ext. 222 to answer questions.
CoVantage Credit Union branches and Contact Center will be closed to observe the following: Memorial Day • Monday, May 28Independence Day • Wednesday, July 4 Labor Day • Monday, September 3
MyCoVantage online and mobile banking is always available!