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.

CoVantage Credit Union is pleased to announce the executive-level promotion of Mary Prunty, CPA, to assume the role of Senior Vice President Chief Financial Officer.

Prunty previously served as Vice President of Finance and Accounting for CoVantage. She was chosen for the top finance position at CoVantage following a nationwide executive search. According to Charlie Zanayed, CoVantage CEO, “Mary is an extremely talented individual and brings a robust background and financial acumen to the CoVantage Executive team. We feel fortunate to have the ability to attract high-level executives such as Mary, and I am proud to welcome her to our leadership team.”  

With her new role, Prunty will lead, direct, and execute the internal and external financial affairs of CoVantage. Overseeing the finance, accounting and payments teams, Mary will establish policies, oversee budget preparation and completion, prepare income forecasts, monitor financial objectives, and guide the long-term financial success of the credit union. As a member of the executive leadership team, Mary will contribute to developing and executing the goals and strategic initiatives of the highly successful financial cooperative.

Prunty has a master’s in accountancy and bachelor’s degree from UW-Madison. She has also earned the designation as a CPA (Certified Public Accountant). Prior to joining CoVantage in 2022, Prunty served for five years at the accounting firm Ernst & Young in Chicago where she oversaw a team of people as an assurance manager while consulting and providing financial guidance and expertise to Fortune 500 companies. Prunty is originally from Antigo, Wisconsin.  

CoVantage Credit Union is a purpose driven organization with a mission to welcome all regardless of wealth, providing outstanding value and exceptional service, work with members experiencing financial challenge, and remaining financially strong.  Headquartered in Antigo, Wisconsin, the credit union has $3 billion in assets and serves over 150,000 members across locations in Wisconsin, Michigan, and Illinois.

Guide to Homeownership topics include:

  • Preparing your finances
  • The home buying process
  • Different mortgage programs
     

At your local CoVantage - 905 Boyce Dr., Rhinelander

Tuesday, February 28 | 6:00pm

Attendees will receive a coupon for $500 off closing costs when financing with CoVantage. Register online or call 800-398-2667, ext. 1130 to register today!

The Wolf River Builders Association Home Show will be showcasing a wide variety of vendors and subcontractors. Come and visit with local professionals from all facets of the building industry. Find the professionals you need for your current or future projects and ideas!

There will also be several home-related seminars. There will also be a food court on site.

Show dates are Feb. 18 & 19. Show hours are Saturday from 9 a.m. to 4 p.m., and Sunday 10 a.m. to 3 p.m.

Admission is three canned goods for the area food pantry, SAFPARC, or a $3 donation to Wolf River Habitat for Humanity. Admission will also again give you a chance to win your choice of bucket raffle items!

The Wausau Area Builders Association Home Show will take place February 17 - 19 at the Central Wisconsin Convention & Expo Center in Rothschild. $5 General Admission Under 12 free.

 

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 www.covantagecu.org/patronage.

For seven years, the CoVantage Cares Foundation and CoVantage Credit Union has partnered to hold a two-week giving campaign, kicking off every year on Giving Tuesday. This year’s donations pushed our seven-year total to $2.2M in support for more than 60 organizations.  

CoVantage Cares Foundation Director, Morgan Swanson, announced that checks totaling $433,362.10 were presented to local non-profit groups that serve communities where CoVantage Credit Union has branches. The funds were made possible thanks to generous donations by CoVantage Credit Union members, staff, and community members who supported the Foundation’s 2022 Giving Tuesday campaign from November 29 to December 13.   

This year, branch staff throughout CoVantage Credit Union’s locations were asked to select a non-profit group in their community to be the recipient of funds raised, with the understanding that contributions generated during the two-week fundraising campaign would be matched up to $175,000 by CoVantage Cares Foundation. Thanks to the matching funds, along with the generosity of many, donations totaling $433,362.10 were gifted locally.  

These funds will support youth mentoring programs, people facing food insecurities, volunteer fire departments, it will provide shelter and care for those effected by domestic violence and homelessness, it will improve neighborhoods parks, and so much more. Overall, these funds will bring people together to improve our communities and enhance the quality of life for thousands of people.   

Charlie Zanayed, CoVantage CEO and CoVantage Cares Foundation Board President, shared the following regarding this year’s campaign, “Community support is a big part of the CoVantage mission, and we are humbled by the generosity of our members, employees, and community members for supporting these deserving charities. CoVantage Cares Foundation was established as a way to provide financial support to organizations that serve individuals, especially those experiencing significant financial challenge, and organizations that work to enhance quality of life in communities served by CoVantage Credit Union. Together, we have made an incredible impact and plan to keep doing so for years to come!” 

Charities selected to receive funding from the sixth annual Giving Tuesday initiative and their sponsoring CoVantage branches include: Crandon Area Community Foundation (Crandon); NATH-Frederick Place (Rhinelander); Fortune Lake Lutheran Camp (Crystal Falls, MI); West Iron County Volunteer Fire Dept. (Iron River, MI); DAR Boys & Girls Club (Menominee, MI); AVAIL (Antigo); Elcho Fire and Rescue (Elcho); Achieve Center (Wausau, Rib Mountain, Weston, Rothchild); Forget Me Not Fund (Shawano); Friends of Emerson Park (Stevens Point & Plover); Paul’s Pantry (Suamico); and Big Brothers Big Sisters of East Central Wisconsin (Appleton, Neenah, Menasha) 

For more information about CoVantage Cares Foundation, or to obtain the grant application needed to request a donation, visit www.covantagecu.org/cares

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