CoVantage Announces a Record $7.5 Million in Patronage to Members
- December 11, 2025
- CoVantage Credit Union
Over $7.5 million in patronage will be deposited on December 31, 2025 into the accounts of members who borrowed and saved with CoVantage Credit Union. This is the largest patronage payment in the history of CoVantage Credit Union. In the last five years, over $30 million has been returned to members specifically through patronage.
Patronage is a concept that originated many years ago as a way for cooperatives like CoVantage to give extra value to those who use their services. CoVantage is one of the few credit unions in the country that continues the practice, and this will mark the 45th consecutive year that CoVantage member‑owners receive this unique financial benefit.
According to CoVantage Board Chair Mike Windberg, “Being part of a mission‑driven credit union means value created here goes back to members. We set aside what is needed to protect CoVantage, fund operations, and pay regular dividends, and then we share some of the success of the cooperative with our member-owners. Because this year is a record year for net income, we are so thankful that we were able to return a record patronage distribution of $7.5 million dollars. Thank you to every member for relying on CoVantage for your financial needs.”
The year‑end patronage payment will include a bonus on dividends earned for those who save, and a loan interest rebate for those who borrow. CoVantage depositors will receive a bonus on dividends earned on eligible certificate, money market, and savings accounts. Borrowers will receive a rebate of their total 2025 interest paid on eligible vehicle, home equity, in‑house mortgage, credit card, and commercial loans.
CoVantage President Charlie Zanayed added, “We measure success by staying true to our mission which includes providing outstanding value to our member‑owners. In addition to a record patronage distribution, this year we delivered $88 million in value to members* and achieved record results across the board with net income over $40 million, membership surpassing 182,000, and assets exceeding $4 billion. We also maintained an exceptionally high Net Promoter Score of 87, placing CoVantage among the best credit unions in the country. These outcomes are only possible because of the loyalty and trust of our member‑owners, and we extend our sincere thanks to all who choose CoVantage.”
Further information about the CoVantage patronage program can be found at covantagecu.org/patronage.
Patronage is a concept that originated many years ago as a way for cooperatives like CoVantage to give extra value to those who use their services. CoVantage is one of the few credit unions in the country that continues the practice, and this will mark the 45th consecutive year that CoVantage member‑owners receive this unique financial benefit.
According to CoVantage Board Chair Mike Windberg, “Being part of a mission‑driven credit union means value created here goes back to members. We set aside what is needed to protect CoVantage, fund operations, and pay regular dividends, and then we share some of the success of the cooperative with our member-owners. Because this year is a record year for net income, we are so thankful that we were able to return a record patronage distribution of $7.5 million dollars. Thank you to every member for relying on CoVantage for your financial needs.”
The year‑end patronage payment will include a bonus on dividends earned for those who save, and a loan interest rebate for those who borrow. CoVantage depositors will receive a bonus on dividends earned on eligible certificate, money market, and savings accounts. Borrowers will receive a rebate of their total 2025 interest paid on eligible vehicle, home equity, in‑house mortgage, credit card, and commercial loans.
CoVantage President Charlie Zanayed added, “We measure success by staying true to our mission which includes providing outstanding value to our member‑owners. In addition to a record patronage distribution, this year we delivered $88 million in value to members* and achieved record results across the board with net income over $40 million, membership surpassing 182,000, and assets exceeding $4 billion. We also maintained an exceptionally high Net Promoter Score of 87, placing CoVantage among the best credit unions in the country. These outcomes are only possible because of the loyalty and trust of our member‑owners, and we extend our sincere thanks to all who choose CoVantage.”
Further information about the CoVantage patronage program can be found at covantagecu.org/patronage.