CoVantage Credit Union distributes record $6.5 million patronage payment
By Patrick Lynn
WISCONSIN — CoVantage Credit Union announced it has returned $6.5 million in patronage to its members, marking the largest payment in its history.
The 2024 distribution brings the total returned to members over the past five years to more than $27 million, the company said in a news release.
The payment rewards members who borrowed and saved with CoVantage, including a bonus on dividends for savings accounts and a rebate on loan interest for borrowers. Eligible depositors earned bonuses on certificates, money market, and savings accounts, while borrowers received rebates on interest paid for vehicles, home equity, mortgages, credit cards, and commercial loans.
“This is the 44th consecutive year CoVantage has provided this financial benefit to our member-owners,” said board chair Dennis Haltinner. “Thanks to the dedication of our members and the credit union’s financial strength, we’ve achieved a $500,000 increase from last year. CoVantage thrives because of its members, who rely on us for their financial needs.”
President Charlie Zanayed highlighted the impact of CoVantage’s additional initiatives, such as the “Change It Up” debit card savings program, which matched $125,000 in member savings in 2024. Since its launch in 2019, members have collectively saved $14 million, with CoVantage contributing $700,000 in matching funds.
“Providing outstanding value is central to our mission,” Zanayed said. “While external recognition, like being ranked eighth nationally by Callahan for great rates and low fees, is gratifying, the real reward comes from our members’ feedback, which consistently ranks among the best in the nation.”
CoVantage Credit Union, founded in 1953, operates with a mission to welcome all members regardless of wealth, provide exceptional service, and support those facing financial challenges. The Antigo-based cooperative manages $3.7 billion in assets and serves over 171,000 members nationwide, with locations in Wisconsin, Michigan, and Illinois.
Further details about the patronage program are available at CoVantageCU.org/patronage.