News & Events

Get around, get around, we get around. You're almost as likely to find a CoVantage worker at a charity brat fry or debt reduction workshop as you are in one of our branches. Check this page frequently for info on credit union news and events.

What's going on with us? A lot. Here are the highlights.



Construction Loans

Learn About:

  • Preparing your financing
  • Construction Program Details
  • Draw Requests & Cost Overruns


  • Tuesday, November 14, 5:30 pm, 1200 Badger Ave., Stevens Point
  • Tuesday, November 14, 5:30 pm, 4903 Schofield Ave., Weston
  • Wednesday, November 15, 5:30 pm,  911 E. Green Bay St., Shawano
  • Wednesday, November 15, 5:30 pm,  1225 Lawerence Ave., De Pere
  • Wednesday, November 15, 5:30 pm,  723 Sixth Ave., Antigo

Attendees will receive a coupon for $1,000 off end loan construction when financing with CoVantage.

Registration is appreciated.

Because CoVantage is a member-owned financial cooperative, you have the opportunity each year to hear about past accomplishments, financial reports, and plans for the future of the credit union. One way this occurs is through the annual membership meeting. The 70th annual meeting was held in-person in the Volm Theater at Antigo High School along with a virtual option on February 15th. There was near record participation in the meeting with over 300 member-owners attending in person and over 500 registered virtually. Reports during the meeting focused on ways CoVantage lives its mission and the steps being taken to ensure your credit union remains financially strong.

In the report of the Treasurer, Willis Qualheim indicated that during 2022, CoVantage assets grew to exceed $2.9 billion and outstanding loans reached a record $2.3 billion. He said net income of $22.7 million was added to capital reserves. With a capital ratio of 10.12%, he stressed CoVantage continues to exceed the 7% benchmark regulators require of a well-capitalized credit union. Qualheim also celebrated the record $5 million patronage payment provided to members at the end of 2022. “This is a tangible way of demonstrating the mutual benefit of you, the members, and your credit union working together for success,” he said.

In his President’s report, Charlie Zanayed focused on ways CoVantage shows it is mission-focused and growing. He noted CoVantage welcomed over 10,000 net new member-owners in 2022 and is now serving over 150,000 member-owners, with more members than ever in every community CoVantage serves. He commented, “The biggest reasons for CoVantage’s ongoing success are that we continue to stick to our simple mission, and we continue to adapt.” Zanayed noted that while the Federal Reserve raised interest rates, CoVantage continues to provide outstanding value to both borrowers and depositors. Zanayed commented, “One way we are dealing with the inflationary environment is by adding expenses slightly slower than the credit union is growing. We’re doing this by utilizing virtual teller ATMs in our new locations and having much smaller physical footprints since members now log in to MyCoVantage over 2 million times per month.” Zanayed stated, “We are continuing to commit to having the last financial institution branch standing in every community we serve.” He noted the cooperative continues to grow by welcoming members in Illinois, opening a branch in Plover, relocating the Menasha branch, and building a new office in De Pere. Zanayed noted CoVantage was recently certified as a “Great Place to Work” and commented that CoVantage turnover remains low. Zanayed reported for 2023 CoVantage will be rolling out a refreshed look to the MyCoVantage digital and mobile banking app that will feature increased functionality and enhanced security.

In closing, Zanayed thanked the board of directors for providing support and expressed appreciation to member-owners for their ongoing loyalty.

During the meeting, Willis Qualheim, owner of Qualheim True Value; Angie Close, Executive Director of Langlade County Economic Development Corporation; and Matt Kolling, owner of Genesis Farms, LLC; were confirmed to serve three-year terms on the CoVantage Board.

While kind of a silly name, it’s a considerable threat to both individuals and organizations that has existed since the 1990s and should not be taken lightly. It is the most common kind of cybercrime according to the FBI.

The sole purpose is to mislead you by thinking it’s for someone/something it is not and getting you to provide information you normally wouldn’t, such as your financial account numbers, credit card numbers, or the like. They attempt to accelerate this by introducing “fear of missing out”, that if you don’t move quickly you will either not get something or have to deal with charge to your account you didn’t expect.

The methods this is done is either email or over text message. Since we are a major financial institution, there has been a huge amount of fraudulent text messages circulating alleging to have come from us. The fraudster will state that either you need to click a link so that your account isn’t locked, or you need to click a link to review a massive purchase that was just made against your card.  This hits our emotional nature. We don’t want to lose access to our accounts, and we certainly don’t want to pay for someone else’s trip to Canada.  The purpose is to get us to abandon reason and click the link without reviewing it further. Covartagecu looks an awful lot like the official site if you are in a hurry.

Once you’ve clicked, they’ll get you to provide your login information pretending to be us. Or, simpler still, they’ll try to steal your name, address, driver’s license, Social Security number and other details to pretend to be validating you. Having obtained that, they can attempt to gain credit in your name.

While scam mail is limited by postage and addresses known by the scammer, the use of phishing can reach an unlimited amount of people. And they don’t need to reach everyone; just the ones inclined to click. Be careful when you click a link. Call us if you receive anything that looks unusual, text or email. We’ll be happy to talk to you and we applaud your vigilance in advance. 

This information provided by CoVantage's Information Security Team.

Virtual Financial Education Workshops

Join an upcoming workshop from the comfort of your home or office, discussing various topics to increase your financial awareness. Financial education is an important aspect of any long-term plan. 

Attend as many virtual workshops as you like. You’ll learn the answers to questions, including:

  • The important rules of the road for receiving Social Security.
  • How can conservative investments help you face today’s economic risks?
  • What sources of income should you draw from and when?
  • How to use annuities to guarantee income for life.
  • How does behavioral finance affect investment decision-making?

Upcoming workshops:

  • Social Security & Your Retirement October 3rd, 6:00 PM CST Register
  • Understanding Medicare October 17th, 6:00 PM CST Register
  • Income for Life November 1st, 6:00 PM CST Register
  • The Three Transitions to Retirement November 14th, 6:00 PM CST Register
  • Rollover Planning December 7th, 6:00 PM CST Register
  • Rethinking Diversification December 19th, 6:00 PM CST Register

Space is limited, so make your reservations today. Contact a CoVantage Retirement & Investment advisor with any questions about the virtual workshops.

There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.  The purchase of certain securities may be required to effect some of the strategies.  Investing involves risks including possible loss of principal.
Fixed annuities are long-term investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Variable annuities are subject to risk and may lose value.
This workshop is educational only and is not investment advice. If you need advice regarding your financial goals and investment needs, contact a financial advisor.


CoVantage Credit Union provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay CoVantage Credit Union for these referrals.  This creates an incentive for CoVantage Credit Union to make these referrals, resulting in a conflict of interest. CoVantage Credit Union is not a current client of LPL for brokerage or advisory services.

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. CoVantage Credit Union is not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Retirement & Investment Services and may also be employees of CoVantage. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, CoVantage or Retirement & Investment Services. Securities and insurance offered through LPL or its affiliates are:

Not Insured by NCUA or
Any Other Government Agency
Not Credit Union
Not Credit Union
Deposits or Obligations
May Lose

The LFL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.

Five million dollars in patronage has been deposited into the accounts of members who borrowed and saved with CoVantage Credit Union in 2022. This is the 42nd consecutive year that a patronage payment has been distributed, a concept that originated many years ago as a way for cooperatives like CoVantage to give extra value to those who use their services. Over just the past five years, the credit union has returned over $20 million to members.

CoVantage is one of only a few credit unions in the country that provide this unique financial benefit. According to CoVantage Board Chair Susan Gitzlaff, “I am so proud to be part of a mission-based credit union like we have with CoVantage. When the Board evaluates the financials, we determine how much income is needed in reserves to protect the credit union when times get tough. To know that we can give back over $5 million after we’ve done this is amazing. Thank you to our 150,000 member-owners who rely on their credit union for home, auto and business loans, and to save for the future. While it hasn’t been an easy year due to the volatile rate environment, CoVantage is doing fantastic, and for that we say thank you to members and employees.”

The year-end patronage payment includes a bonus on dividends earned for those who save, and a loan interest rebate for those who borrow. CoVantage depositors received a 5% bonus on dividends earned on eligible savings, term share certificates and variable rate accounts. Borrowers received a rebate of 5% of their total 2022 interest paid on eligible vehicle, home equity, in-house mortgage, credit card, and commercial loans.

For instance, if $5,000 of interest had been paid on a home loan, the borrower would receive $250 in patronage for just that loan. In addition to patronage, CoVantage also provided over $115,000 to members through the CoVantage match for those enrolled in Change it Up, a debit card savings program. CoVantage members used their debit card more than ever, and collectively saved nearly $2.3 million through Change it Up.

CoVantage President Charlie Zanayed, added, “Part of our simple mission is to provide outstanding value, which we do through everyday great rates and low fees, including not charging overdraft fees on checking. I’m humbled to share that Callahan and Associates (an independent credit union research company) recently ranked CoVantage 3rd out of over 4,000 credit unions nationally for having great rates and low fees. As a direct result of our members’ feedback, CoVantage was also ranked the Best-in-State Credit Union in Wisconsin by Forbes and received the highest ranking of all credit unions in their national study. I want to be clear, that while this recognition is nice, what’s really rewarding is reading the terrific feedback our member-owners provide in our monthly surveys. For instance, our average Net Promoter Score this year is 89, among the best scores nationally for any business. As much as we try to always provide exceptional service, at times we do fall short, and I want to thank you for your patience when that occurs. CoVantage members are simply terrific and thank you for allowing us to serve you.”

Further information about the CoVantage patronage program can be found at

Next Steps