As a community-based financial cooperative, CoVantage isn't out to make a profit. Each year, our Board of Directors decides how much to set aside to cover regular deposit account dividends, operating costs and other needs. Extra revenues are then returned to our member-owners in the form of Member Patronage Payments, which we've been making since 1980. These are additional dividends paid to savings account holders and rebates on loan interest payments. In 2018, a record $3.3 million was deposited into member accounts.
The more you borrow and save at CoVantage, the more successful your cooperative is – and in return, the more patronage you’re likely to receive.
See how we are making a difference.
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