Share Deposit 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.
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).