Personal Savings Accounts

Our routing number is 275976655. To locate your full account number for ACH/Electronic transactions, log in to your MyCoVantage account. Select the savings or checking account to open an Account Details screen, including your Electronic Account Number along with the routing number. 

To locate your full account number for ACH/Electronic transactions, log in to your MyCoVantage account. Select the savings or checking account to open an Account Details screen, including your Electronic Account Number along with the routing number.

A joint account is an account owned by two or more persons. Any owner is authorized and deemed to act for any other owner(s) and may instruct us regarding transactions and other account matters. Each owner guarantees the signature or authenticated request of any other owner(s). Any owner may withdraw or transfer funds, pledge to us all or any part of the shares, or stop payment on items without the consent of the other owner(s). You can learn more about joint ownership by reading the Membership Account Agreement.

If someone dies without a will or a trust and didn’t use beneficiary or transfer on death options, state law will determine who inherits the property and probate will likely be necessary.

A beneficiary designation is a contractual agreement where the insurance or financial company agrees to pay the designated person or entity the specific asset upon death. For example, Bob may list Susan, his sister, as the payable on death (POD) beneficiary for his savings account at ABC Financial. When Bob dies, ABC Financial will pay Susan the balance in Bob’s account, without Susan having to first go to probate court. 

A will is a written instrument that outlines how your assets are to be distributed at your death but not assets directed to others through beneficiary designations (e.g. life insurance or retirement benefits). A will goes through the probate process. Probate is the legal process by which a deceased individual’s assets are distributed under court supervision. This process is necessary to distribute assets that are solely in the name of the deceased person. Your personal representative named in your will is responsible for probating your will and settling your estate. A trust is a written instrument that describes how your assets are to be managed once they have been funded into the trust. The trustee is the individual or trust company named in the trust document to be in charge of the assets that are held in the trust. Assets held in a trust avoid probate, which means that court supervision is typically not required. Upon your death, the trustee will distribute the assets held in the trust to your named beneficiaries and subsequently close down the trust, similar to a personal representative, without the burden of probate.

When a person dies with Wisconsin property subject to probate which doesn’t exceed $50,000 in gross value, a person (the Affiant) may sign an affidavit and then collect, receive, and have the decedent’s interest in property transferred to the Affiant. By accepting the decedent’s property, the Affiant assumes a duty to pay the decedent’s debts and distribute any balance to the decedent’s beneficiaries designated in the appropriate governing instrument (such as a will) or, if the decedent did not have a will or other governing instrument, to the decedent’s heirs. Check out our Deceased Account Member Checklist for more information.