Last month, CoVantage Credit Union (CoVantage) offered a 34-month Certificate Special earning a competitive 2.00% APY. CoVantage is again offering a CD Special with a 2.00% APY, but this time the term is 11 months. The minimum opening deposit is $1k, with no stated balance cap.
The 11-month Certificate Special is also available as an IRA (Traditional, Roth, and CESA), earning the same APY with the same deposit requirements.
According to CSR, the Early Withdrawal Penalty for the 11-month Certificate Special is 90 days of interest on the amount being withdrawn.
Headquartered in Antigo, Wisconsin, CoVantage Credit Union’s field of membership (FOM) is community-based, with individuals who live or work in 30 northeast Wisconsin counties or three Michigan Upper Peninsula counties eligible to join.
Wisconsin Counties: Brown, Calumet, Clark, Door, Florence, Fond Du Lac, Forest, Kewaunee, Langlade, Lincoln, Marathon, Marinette, Manitowoc, Menominee, Milwaukee, Oconto, Oneida, Outagamie, Ozaukee, Portage, Price, Shawano, Sheboygan, Taylor, Vilas, Washington, Waukesha, Waupaca, Winnebago, and Wood.
Michigan Counties: Dickinson, Iron, and Menominee.
Family members (spouse, parent, child, grandparent, including step- relations) of current CoVantage members also qualify for membership.
Several other ways to qualify for membership (employment, organization membership) can be found on the Become a Membership page.
Joining CoVantage and/or opening a Certificate can be done online, or at any of 13 full-service Wisconsin branches located in Antigo (2), Appleton, Crandon, Elcho, Menasha, Neenah, Rhinelander, Rothschild, Shawano, Stevens Point, Wausau, and Weston. There are also two Michigan branches in Crystal Falls and Iron River.
A $10 deposit in a regular share (savings) account is all that is required to establish your ownership share in the credit union.
CoVantage participates in both the CO-OP ATM network and the Alliance One ATM network.
Credit Union Overview
CoVantage Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.36% (excellent), based on December 31, 2021 data. In the past year, CoVantage CU has increased its total non-brokered deposits by $304.98 million, an excellent annual growth rate of 15.04%. Please refer to our financial overview of CoVantage Credit Union (NCUA Charter # 66848) for more details.
Originally established in 1953 as the Antigo Co-op Credit Union, CoVantage Credit Union is currently Wisconsin’s eighth largest credit union, with more than 141,000 members and assets in excess of $2.6 billion. CoVantage’s legendary CEO, Brian Prunty, retired in 2017. In his 26-year tenure, Prunty guided the Credit Union’s development from a one-location, 36 employees, $67 million asset small-town institution to a multi-state, 14 branch, 360 employee organization with nearly $1.35 billion in assets. During those 26 years, the membership increased by more than 600%.
How the 11-Month Certificate Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, only one credit union has a higher rate than currently offered on the CoVantage Credit Union 11-month Certificate Special. The following table compares the 11-month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.
The above information and rates are accurate as of 5/12/2022.
To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.