EIN 39-0945701

CoVantage Credit Union

IRS 501(c) type
501(c)(14)
Num. employees
445
City
Year formed
1953
Most recent tax filings
2018-12
Description
CoVantage Credit Union has business lending, mortgage lending, a full service contact center, accounting, information technology/security, and marketing departments in addition to the expected teller, consumer lending, and financial service departments.
Related structure
CoVantage Credit Union is a child organization, under an unknown parent.

Program areas at CoVantage Credit Union

Covantage has 108,006 members, and for those looking to save, Covantage strives to pay dividend rates that are above market rates, even in these flat economic rate environment. As of december 31, 2018, Covantage was paying an annual percentage rate of 0.80% on regular share accounts when many other financials continued to significantly drop their rates as the economic conditions continued to deteriorate. Our minimum balance of only $10 continued to be maintained, which helped many members in times of hardship. Members were not only able to receive the benefit of higher than average rates during poor economic conditions, but Covantage still rewarded members with an additional $3,414,740 in patronage payments in 2018.
Covantage also strives to support financial literacy, including providing accel Credit counseling as a free service to our members to assist with budgeting, understanding Credit reports, money management, and debt repayment. This free service saves members $25-$50 per month that is commonly charged by other Credit counseling agencies. In addition, Covantage offers community education events and promotes financial literacy to students through kidz Credit unions operated through local middle schools.
Covantage continues to offer cost-friendly products to our members. We not only do this through our competitive rates, but also by going above and beyond to help those in need. We continue to offer cost-friendly options to payday lenders such as kwik cash overdraft protection loans with no service charge or transfer fee, courtesy pay checking account services also without hefty fees, in addition to reward Credit cards with very competitive interest rates. Other low-cost options include our own payday advance loans in addition to share-secured Credit cards and other Credit builder loans for those members that need to rebuild Credit. For those looking for home ownership, Covantage also offers its Covantage creates homes mortgage program to help those that might need assistance with a down payment or needed home repairs.

Form 990s for CoVantage Credit Union

Fiscal year endingDate received by IRSFormPDF link
2018-122020-01-03990View PDF
2017-122019-02-21990View PDF
2016-122018-03-14990View PDF
2015-122017-03-02990OView PDF
2014-122016-01-21990OView PDF
...and 5 more Form 990s

Grants made by CoVantage Credit Union

GranteeGrant descriptionAmount
Covantage Cares FoundationGeneral Support$125,000
 Subscribe to view████ ████$99,999
 Subscribe to view████ ████$9,999
 Subscribe to view████ ████$9,999

Financials for CoVantage Credit Union

RevenuesFYE 12/2018
Total grants, contributions, etc.$0
Program services$68,853,799
Investment income and dividends$4,189,544
Tax-exempt bond proceeds$0
Royalty revenue$124,657
Net rental income$52,581
Net gain from sale of non-inventory assets$13,906
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$73,234,487

Personnel at CoVantage Credit Union

NameTitleCompensation
Schwan HardiChief Financial Officer
Robert van AbelChief Information Officer$208,000
Brett LeeChief Retail Officer$210,754
 Subscribe to viewChief Commercial Officer$200,180
 Subscribe to viewVice President Digital and Business Solutions$160,513
...and 8 more key personnel

Organizations like CoVantage Credit Union

OrganizationLocationRevenue
Capital Credit UnionGreen Bay, WI$72,267,762
UW Credit UnionMadison, WI$150,872,115
Summit Credit UnionMadison, WI$153,615,518
Marine Credit UnionLa Crosse, WI$63,762,630
Corporate Central Credit UnionMuskego, WI$19,084,979
WESTconsin Credit UnionMenomonie, WI$83,150,893
Verve a Credit UnionOshkosh, WI$56,591,545
Community First Credit UnionNeenah, WI$126,012,945
Landmark Credit UnionNew Berlin, WI$191,675,636
Westby Co-op Credit UnionWestby, WI$32,531,228
Fox Communities Credit Union (FOXCU)Appleton, WI$74,524,425
Connexus Credit UnionWausau, WI$128,472,323
Superior Choice Credit Union (SCCU)Superior, WI$23,676,337
Blackhawk Community Credit UnionJanesville, WI$27,488,341
Educators Credit Union (ECU)MT Pleasant, WI$115,162,157
Pioneer Credit UnionGreen Bay, WI$32,603,206
Royal Credit Union (RCU)Eau Claire, WI$131,746,038
Kohler Credit UnionKohler, WI$19,502,064
Boulder Dam Credit UnionBoulder City, NV$22,713,811
Schlumberger Employees Credit UnionSugar Land, TX$27,618,502
Valley First Credit UnionModesto, CA$30,019,835
718 Atomic Credit UnionPiketon, OH$23,311,563
Firefighters First Credit UnionLos Angeles, CA$47,155,486
Redwood Credit UnionSanta Rosa, CA$215,541,935
Altura Credit UnionRiverside, CA$83,196,671
Nonprofit Types
Issues
No issues found
Characteristics
No characteristics found
Key performance indicators
Total revenues
$73,234,487
2018
Yearly growth
14.9%
% of revenues
n/a
Total expenses
$55,893,023
2018
Yearly growth
19.8%
% of expenses
n/a
Total assets
$1,645,093,652
2018
Yearly growth
9%
% of assets
n/a
Num. employees
445
2018
Yearly growth
4.2%
% of total
n/a
General information
Address
723 6TH Avenue PO Box 107
Antigo, WI 54409
Metro area
Wausau-Weston, WI
Website URL
covantagecu.org/ 
Phone
​715-627-4336
Facebook page
covantagecreditunion 
Twitter profile
@covantagecu 
IRS details
EIN
39-0945701
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1953
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
W60: Financial Institutions, Credit Unions
NAICS code, primary
522130: Credit Unions
Parent/child status
Child within group exemption