electronic transactions 
 Making it easier for you  

Electronic Transactions

​Benefits of Electronic Transactions

  • Automatic transfers and direct deposit can get you into the habit of saving. Saving even a small amount each pay period will add up quickly over time.

  • Using automatic transfers to make more frequent payments allows you to pay your loan off sooner, and can save you a significant amount in interest.

CoVantage Credit Union offers convenient electronic ways to do many of your routine financial transactions. It's automatic, almost effortless, and best of all, it is absolutely FREE!

Direct Deposit

By using direct deposit, you authorize your employer to send all, or a portion, of your paycheck directly to CoVantage each pay period. Your money is then automatically deposited into your accounts, per your instructions. You can divide your money between savings, checking, an IRA, or even loans. You can verify that your direct deposit has been made by checking your monthly statement or e-Statement, by calling TEX, or by logging on to MyCoVantage. In most cases, your money is in your account(s) the same day you normally receive your paycheck from your employer.

Although your account number will be needed to set up your direct deposit, there is no need for your employer to retain that information, nor will they have access to your account balance or account information.

Direct Deposit is available to all employee groups, no matter how many choose to participate. If your employer does not offer CoVantage Direct Deposit, ask them to contact us for details on getting started.

Automated Transactions & Transfers

CoVantage offers automated transactions (as known as ACH or Automated Clearing House) to make payments and deposits directly from a member's checking or savings. ACH can be used to automate almost any payment, including internet purchases, and even insurance premiums. Deposits of Social Security benefits, payroll, and IRS tax refunds can also be automated.

The key to a seamless ACH transaction is providing CoVantage's routing number and your account number in the correct format in order for transactions to post correctly. Even a slight error in the format can delay posting or require special handling of the transaction, leading to an unwanted fee. (See instructions below on setting up electronic transactions.)

CoVantage also offers automatic savings transfers, where you authorize the credit union to take money from one deposit account and deposit it into another. You can do this between two credit union accounts, or from an account you have at another financial institution to your credit union account. For an automatic payment transfer, the process is similar, except the money is transferred from either your savings or checking account and applied to your loan account with the credit union. For either automatic savings or payment transfers, you can request the transfer be made monthly, semi-monthly (for example, the 1st and 15th), or weekly.

To set up an automatic payment transfer, call or visit a Member Specialist. You can also set up most automatic transfers yourself using MyCoVantage.

Follow these instructions when setting up electronic transactions:

Checking Transactions

Checking transactions need to be presented as "checking" transactions (not savings) and must use the account number found on the bottom of your checks (see example below). This is always a 10-digit number that starts with a "1." We recommend using checking whenever possible.

check with routing number 


Savings & Loan Transactions

Savings and loan transactions will require your account number to be presented as a 15-digit number. To figure this number you will need:

  1. Your account number written out as a 10-digit number. Most base account numbers are between 6 and 1 digits long. In order to make it a 10-digit number, zeros must be added. For example, for account number 12345, the number would be presented as 0000012345.
  2. Your 4 digit share or loan ID. Account IDs are listed on your statement and can also be viewed on CoVantage Online. For example, a share ID could be 0000.

To put your 15-digit savings or loan account number all together, put a number “1” at the beginning, then put the 10-digit number as explained above, and finally put the 4-digit share or loan ID. Using the above example, an electronic format of an ACH account number would be: 100000123450000.


CoVantage is happy to provide you with the correct format for your account number for electronic savings or loan transactions. You can find the correct format by logging into MyCoVantage and clicking on How to Set Up Electronic Transactions. Or call our Share Draft department at 715-627-4336, extension 1804.

Covantage's ​Routing Number:


You can find the correct format for your account number by logging into MyCoVantage and clicking on How to Set Up Electronic Transactions. 


Related Pages


Wire Transfers

Personal and Western Union
Information Needed For Incoming Wire Transfers:

  • Address: CoVantage Credit Union
    723 Sixth Avenue
    Antigo, WI 54409
  • Phone: 715-627-4336
  • ABA/Routing Number: 275976655
  • Final Credit: The Members' Name, Account Number, and Share ID
  • Incoming Wire Fee, $10.00
  • Domestic Wire, $18.00
  • Western Union, $40.00
  • International Wire in US Dollars, $50.00
  • International Wire in Foreign Currency, $30.00



Related Document

Written Statement of Unauthorized Debt [PDF]