For the past few years, CoVantage Credit Union (CoVantage) consistently offered regional rate leading CDs. Although the rate on the 24-month Certificate has dropped significantly in the last year, the current 1.25% APY equals the top rate offered by a nationally available 2-year CD. The minimum opening deposit is $1k, with no stated balance cap.
|0.70%||$1k||-||CoVantage Credit Union||24 Month Certificate|
|0.70%||$1k||-||CoVantage Credit Union||24 Month IRA (Traditional, Roth, CESA)|
The 24-month Certificate 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According to CSR, the Early Withdrawal Penalty for the 12-month Certificate is 120 days interest on the amount being withdrawn.
Headquartered in Antigo, Wisconsin, CoVantage Credit Union field of membership (FOM) has expanded and now includes individuals who live or work in 30 northeast Wisconsin counties (an additional eight counties) and 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 15 Wisconsin branches located in Antigo (2), Appleton, Crandon, Elcho, Menasha, Neenah, Rhinelander, Rib Mountain, Rothschild, Shawano, Stevens Point, Suamico, Wausau, and Weston. There are also three Michigan branches in Crystal Falls, Iron River, and Menominee.
A $10 deposit in a regular share (savings) account is all that is required to establish your ownership share in the credit union.
Credit Union Overview
CoVantage Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.89% (excellent), based on March 31, 2020 data. In the past year, CoVantage CU has increased its total non-brokered deposits by $172.17 million, an excellent annual growth rate of 11.09%. 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 122,000 members and assets in excess of $1.9 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 employees organization with nearly $1.35 billion in assets. During those 26 years, the membership increased by more than 600%.
How the Certificate Compares
When compared to 228 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, CoVantage Credit Union's 24-month Certificate APY currently shares the top spot with Pen Air Federal Credit Union’s 24-month CD APY.
The above rates are accurate as of 8/3/2020.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates Table page.