Impact Statement

THANK YOU for being a loyal member of CoVantage Credit Union! The highlights below show the value members receive by banking with CoVantage versus having comparable accounts with other financial institutions. It PAYS to be a member-owner!

THANK YOU for being a loyal member of CoVantage!

The highlights below show the value members receive by banking with CoVantage versus having comparable accounts with other financial institutions. It PAYS to be a member-owner!

$6 Million in Patronage in 2023

#2 in the Nation

Annual Value = $257 per member or $539 per member household

CoVantage members collectively earned $7.5 million more on savings accounts than banks

CoVantage provided $40 million in direct financial benefits to members

$1.7 million additional benefit from fewer & lower fees.

CoVantage members collectively earned $13 million more on certificates than banks

Next Steps

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¹According to a leading industry research firm, Callahan & Associates, CoVantage is 2nd in the nation for providing value to members in the form of great rates and no fees as of September 30, 2023.
²CUNA CoVantage CU Membership Benefits Report Mid-Year 2023. Rates and fees as of 6/30/2023 compared to Wisconsin bank averages. Assumes 2.1 credit union members per household.
³$5 monthly fee for paper statements on new accounts.
⁴Savings calculated based on an average of a CoVantage member overdrawing on their checking account up to 12 times a year.
Federally insured by NCUA