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 Offers Support for Credit Union Members

The CoVantage Credit Union Board of Directors has authorized that up to $20 million be made available to assist existing credit union member-owners affected financially by the recent pandemic emergency. These COVID-19 Member Relief Efforts will focus on providing financial relief for CoVantage members that includes an opportunity for deferred payments on existing loans, waived late fees on loans, deferred first payments on new consumer loans, and more. Individuals, families and businesses who are current CoVantage members should reach out to CoVantage if they need assistance.

According to Charlie Zanayed, CoVantage CEO, “CoVantage has a long history of assisting member-owners in times of need, and we are devoted to helping those who have supported their credit union. We are so grateful for the trust our member-owners place in us; their loyalty is why CoVantage is a cooperative with nearly $2 billion in assets and consistently rated one of the healthiest and best performing credit unions in the country. CoVantage would not be able to offer this relief program if it wasn’t for our members’ support. Credit unions were created to serve during difficult times, and CoVantage is well-positioned to make these resources available to our members today.”

CoVantage understands that individuals, families, and businesses have been impacted by the COVID-19 outbreak and more will continue to be affected. These special efforts are being put into place to support CoVantage credit union members (including business members) who are most affected by the health, economic, and social impacts of this pandemic. “While we certainly won’t be able to help every individual or business, and we can’t solve every problem, we will always be ready to try to be there for those who are a part of our cooperative,” added Zanayed.

Because CoVantage serves many low- and moderate-income communities, the United States Treasury has designated CoVantage as a Community Development Financial Institution (CDFI). The CDFI designation allows CoVantage to apply for and receive grant funds. CoVantage will be applying for grant funds recently made available for pandemic relief, with hopes of assisting even more people served by the financial cooperative. While there is no guarantee CoVantage will be awarded grants, if approved, CoVantage will share additional details with member-owners and the communities we serve.

If you are a current CoVantage member-owner who needs financial assistance, please call 800-398-2667 or visit for more information.

Homebuyers Seminars Cancelled

Because our members are our mission, their physical wellness is as important to us as their financial wellness. In light of that and the constantly-evolving coronavirus (COVID-19) pandemic and recommendations by the CDC, we have determined it is in our members best interest to cancel our upcoming Home Buyers Seminars. Please watch our website and social media for updates on when they may be rescheduled.

If you have any questions, please call our Contact Center at 715-627-4336 or 800-398-2667.

CoVantage Credit Union has announced plans to relocate their current Rothschild branch

According to CoVantage Credit Union President Charlie Zanayed, “Our Board of Directors believe now is the opportune time to build a new branch in Rothschild to serve our growing membership. More and more members in Marathon County are trusting CoVantage with their financial needs and we’re so grateful to provide this new convenient office.”

CoVantage has purchased land at the corner of County Hwy XX and Trailwood Lane in the Village of Rothschild. In the spring, construction will begin on a new 2,700-square foot branch that will feature a modern design. This office will offer a combination of digital services and personal interactions with staff to ensure members are served in an efficient and friendly manner. The new Rothschild branch will have staff available to assist members with loans and deposit accounts. The branch will also offer Interactive Teller Machines (ITMs) to provide fast, convenient service. The ITMs will allow members to interact with live, local tellers using video technology, where they can complete a wide range of services.

CoVantage Returns a Record $4 Million in Patronage to Members

A record of over $4 million in patronage has been deposited into the accounts of members who borrowed and saved with CoVantage Credit Union. This is more than double what was paid out five years ago; and a 19%, or $600,000, increase in just the last year.

Patronage is a concept of giving back that originated among cooperatives many years ago. Most have abandoned the practice, but at CoVantage, patronage has been paid to member-owners for the past 39 consecutive years. According to CoVantage Board Chairman, Lee Siler, “The board determines how much income we need to pay regular dividends and operating expenses, and keep in reserves to ensure we remain strong during difficult times. Because of our financial strength, and the fact that more and more members are trusting CoVantage with their loans, deposits, and cards, we had a successful 2019. We are thrilled to be able to provide members over $4 million – our largest patronage payment ever! In the last three years alone, our patronage program has returned over $10 million to members. On behalf of the directors, I want to extend my thanks for new and long-time members, and for all who make their loan payments on time, as ongoing low delinquency was also a factor in this record return.”

This year’s patronage 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 2019 interest paid on qualifying 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 member would receive $250 in patronage for just that loan. In addition to patronage, CoVantage also provided nearly $100,000 to members through the CoVantage match of the Change it Up debit card savings program. This year more members than ever are spending and saving with their CoVantage debit card and have collectively saved over $2 million through Change it Up.

CoVantage President Charlie Zanayed, added, “Part of our mission is to provide outstanding everyday value, and I’m humbled to share that in September 2019, CoVantage was ranked 4th out of 5,400 credit unions nationally for providing great rates and low fees (as reported by Callahan, an independent credit union research company). This was the 13th year in a row CoVantage was honored to be in the top 1% of credit unions for providing outstanding value. Thank you for allowing us to serve you and for allowing your credit union to continue to do well by doing good.”

CoVantage Teams with ADRC for Dementia-Friendly Training

Dementia, including Alzheimer's disease, is a national health epidemic. In Wisconsin, there are currently 875,149 people over the age of 65, with approximately 105,000 of those seniors suffering from Alzheimer’s disease. More than 70% of people with dementia spend the majority of their time at home in their community.

CoVantage recognizes the need for quality dementia-friendly care in the communities the credit union serves. As a response, CoVantage recently partnered with the Aging and Disability Resource Center of Langlade County to educate staff on all forms of dementia-related diseases. The trainings were presented to staff by Meagan Fandry, ADRC Caregiver Support Coordinator, at the Antigo headquarters with surrounding branch staff participating through virtual access. Three different class times were offered over the course of two days. Over 50% of CoVantage employees completed the training. 

According to Joanna Hilger, Employee Development Specialist at CoVantage, the goal of offering this course was to help employees better understand dementia and be equipped to respond effectively while serving members and their caregivers. “CoVantage Credit Union’s mission is to welcome all and I really felt this training was an important step toward making the organization even more inclusive,“ said Hilger. As a result of the training, 15 of our branches are now certified Dementia-Friendly businesses and are able to better assist our member-owners and their families.

Forbes Names CoVantage a Top Wisconsin Credit Union

CoVantage Credit Union is proud to announce that with the help of our members and staff, we were rated as one of the top 200 credit unions out of over 5,000 in the country by Forbes.

In June, Forbes released its list of America’s Best Credit Unions in Each State after surveying more than 25,000 credit union members on their current and former banking relationships. The scoring was based on member satisfaction, trust, terms and conditions, branch services, digital services, financial advice and overall recommendation. The results of these surveys rank CoVantage as the best credit union in the northcentral region and the third best-in-state credit union in Wisconsin.

CoVantage would like to thank member-owners for their continued loyalty and support, we are also grateful to our staff for making this credit union an award-winning place that serves those who rely on CoVantage for their financial needs.

Next Steps