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715-627-4336
P.O. Box 107
Antigo, WI 54409

CoVantage Credit Union is headquartered in Antigo and is the 7th largest credit union in the state of Wisconsin. It is also the 186th largest credit union in the nation. It was established in 1953 and as of December of 2013, it had grown to 258 employees and 79,213 members. CoVantage Credit Union's savings rates are 35% higher than the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

You are eligible for membership if you fit into one of the following groups: * You live or work in the Wisconsin counties of Brown, Clark, Florence, Forest, Langlade, Lincoln, Marathon, Menominee, Oconto, Oneida, Outagamie, Portage, Shawano, Waupaca, or Wood; and Dickinson and Iron counties in Michigan. * You are a spouse, parent, child, stepparent, stepchild, sibling, step-sibling, grandparent, step-grandparent, grandchild or step-grandchild of a current CoVantage Credit Union member. * You are a member of Servco FS Cooperative (formerly Farm Bureau Cooperative) in Antigo. * You are a present student or alumni of a post-secondary school in Marathon County. * You were a member at the time of the merger with Shawano Paper Mills Employees Credit Union. * You are an employee of Little Rapids Corporation, Shawano Mill, or Weber Veneer & Plywood Company. - See Details

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Reviews (1)

Home Loan Cosigner

Beware when cosigning anything at this bank. I cosigned a loan against my parents home to help out my brother. He was making the payments for 2 years then he got behind making a $425 payment on a $480 loan payment. I did not know this and I received a letter from an attorney. I questioned him and he said it was all caught up. 8 months later I have the sheriff show up at my door with foreclosure papers. I never received any warning or any correspondence from the bank at all for that 8 months. However, they were dinging my credit report each and every month. My credit score went from 792 to 658. My brother is the one who let it happen but to not even send anything to the cosigner is bad business. When I called them they said that is the way they do it. Thanks Covantage Credit Union for making sure I will not be doing any business with you in the future.



Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 CoVantage Credit Union had $7.64 million in non-current loans and owned real-estate with $123.62 million in equity and loan loss allowances on hand to cover it. This gives CoVantage Credit Union a Texas Ratio of 6.18% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for CoVantage Credit Union decreased slightly from 8.02% as of December 31, 2012 to 6.18% as of December 31, 2013, resulting in a positive change of 22.85%.This indicates that the balance sheet and financial strength for CoVantage Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A

In the past year, CoVantage Credit Union has increased its total deposits by $35.18 million, resulting in 3.75% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth CoVantage Credit Union has shown is excellent.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. CoVantage Credit Union has $1.09 billion in assets with $123.62 million in equity, resulting in a capitalization level of 11.33%, which is excellent.

Institution Statistics

Overall
NCUA #66848
Year Chartered1953
Employees258
Primary Regulator
Assets and Liabilities
Assets$1.09 billion
Loans$798.73 million
Deposits$972.51 million
Equity Capital$115.70 million
Loan Loss Allowance$7.93 million
Unbacked Noncurrent Loans$5.85 million
Real Estate Owned$1.80 million
Historic Data - December 2012
Assets$1.05 billion
Equity Capital$105.78 million
Loan Loss Allowance$7.31 million
Unbacked Noncurrent Loans$5.85 million
Real Estate Owned$924,000
Profit Margin - Quarterly
Net Interest Margin3.8%
Return on Assets0.96%
Return on Equity9.04%
Interest Income$35.60 million
Rates
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CoVantage Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.70%--Funeral Account
0.65%--IRA Account
0.60%$10k-HSA Account
0.55%$100k-Variable Rate Account
0.40%--Membership Share Account
0.40%--Miscellaneous Savings
0.40%--Christmas Club

CoVantage Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$500-Share Draft Account

CoVantage Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.60%$1k-60 Month CD
1.40%$1k-48 Month CD
1.25%$1k-36 Month CD
0.80%$1k-24 Month CD
0.65%$5k-15 Month CD Special
0.55%$1k-12 Month CD
0.42%$5k-6 Month CD
0.40%$5k-3 Month CD

CoVantage Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.60%$1k-60 Month IRA
1.40%$1k-48 Month IRA
1.25%$1k-36 Month IRA
0.80%$1k-24 Month IRA
0.55%$1k-12 Month IRA
0.42%$5k-6 Month IRA
0.40%$5k-3 Month IRA
Locations

CoVantage Credit Union has 17 locations. Click to view all CoVantage Credit Union locations.