business savings 
Saving your bottom line

​Business Savings Products 

Membership Share Savings Accounts

A $10 deposit in a regular share (savings) account is all that is required to establish your ownership share in the Credit Union. Dividends are compounded daily and credited quarterly.

Miscellaneous Share Savings Accounts

Additional share (savings) accounts are available. You may have multiple share accounts to separate funds for different purposes.

Term Share Certificate

Certificates offer higher returns for your investment. Your rate at the time of investment is locked in for the term of the certificate. Terms range from 3 months to 5 years. Dividends are compounded and paid quarterly. Penalty for early withdrawal.

Individual Retirement Account

Save for your retirement in an open deposit account or term share certificate and enjoy tax-deferred earnings. We offer Traditional, Roth, or Education IRAs as an:
  • Open Deposit Account – $10.00 minimum deposit. Dividend compounded monthly and is paid on the daily balance, or
  • Term Share Certificate – $1,000 minimum deposit. See details above.

Money Market Accounts

This account is a tiered rate account, with four different tiers starting at $1-$9,999.99 to $100,000 and above. It offers liquidity with the potential to earn dividends at a high rate than any other type of savings account offered.

Share Deposit Insurance

Share insurance keeps deposit account balances at CoVantage Credit Union protected in a number of ways. The National Credit Union Administration (NCUA) insures the first $250,000 in deposits. Further, in Wisconsin, amounts between $250,000 and $400,000 are protected by the Public Deposit Guaranty Fund (administered by the Wisconsin State Treasurer). Beyond $400,000, CoVantage can provide collateral for additional coverage.

Savings Bonus

At CoVantage you have an opportunity to participate in the savings bonus we may pay at year-end to members who have deposit accounts with us. Although not guaranteed, this form of patronage is in addition to our regular rates, and has been provided for the past seven years. In 2016, for example, savers received a 5.3% bonus on interest earned on regular savings, certificates, and variable rate accounts.


Deposits are insured up to $250,000 by the National Credit Union Association (NCUA).