CoVantage Credit Union Info + Review
CoVantage Credit Union is our focus here for you. We’ll take a look at important details of this Wisconsin CU like their history, membership eligibility, products and more.
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*Routing #: 275976655
*Phone #’s: 715-627-4336 or 800-398-2667
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A Little History
This a slightly younger credit union than the average one that you might find. A lot of them were started in the 1930’s, but not this one. It’s been around since 1981, so they’ve been doing their thing for 40 years.
Something that I’ve never seen actually documented at a CU is a recent dividend payout. In 2020, CoVantage Credit Union paid $4 million+ in dividends in the form of added savings dividends and loan interest payment rebates, according to their website.
Membership Eligibility
Whether you can become a member or not depends on where you live, work, or go to school. It’s actually a law that credit unions have to put a limit on their membership.
The only odd thing about that is that there seems to be a lot of CU’s out there that casually accept members all over the United States as long as they make a small donation somewhere.
If you live or work in either Brown, Calumet, Clark, Door, Florence, Fond Du Lac, Forest, Kewaunee, Langlade, Lincoln, Manitowoc, Marathon, Marinette, Menominee, Milwaukee, Oconto, Oneida, Outagamie, Ozaukee, Portage, Price, Shawano, Sheboygan, Taylor, Vilas, Washington, Waukesha, Waupaca, Winnebago, or Wood in Wisconsin; and Dickinson, Iron, or Menominee in Michigan, then you qualify for membership.
There’s also a bunch of other ways to qualify for membership listed here.
Philanthropy at CoVantage Credit Union
This Wisconsin CU does a lot to give back. Most credit unions do something, but it’s always nice to see one where they actually break down specific numbers and areas where they make a difference.
They have their own philanthropic arm called the CoVantage Cares Foundation. They gave away over half a million dollars in 2020 with it, which is pretty awesome.
In 2020, CoVantage Credit Union positively impacted health and safety areas of their communities with $203,008. Community enhancement efforts were $149,803. Housing was supported by $45,845 and education/financial development was by $20,765.
CoVantage Credit Union Products
You can choose from a lot of different products at this CU. Those include a basic savings account, a money market account, a Christmas club account, high-yield savings, and share certificates.
If you’re planning for retirement, they can offer you a traditional IRA, Roth IRA, and education IRAs. Each comes with a lot of different investment options.
CoVantage Credit Union also offers Health Savings Accounts, so you can be covered in case you break a leg. It has a really low minimum balance of $10, so you can just open one to have it and not worry about needing a large opening deposit.
Some of those are pretty special (mainly talking about the Christmas one), but what about everyday spending? That’s where their Fee-Free Checking comes in.
That’s their option for everyone – literally, it’s the only checking option. It does look pretty good, though. There’s no monthly service charge or minimum balance requirement.
Business and Loan Products
CoVantage Credit Union offers business checking and savings accounts. They also have a rewards card, business services and business loans.
If you need to make a big purchase, they’ve got you covered when it comes to personal loans as well. They offer mortgages, home equity loans, vehicle loans, personal loans, overdraft protection loans, boat loans, powersport loans, and RV/Camper loans.
Other Services At CoVantage Credit Union
You can find the usual ATM/Debit Card products and services here. They also offer a card called “Load n’Go” which allows you to pre-load a card with funds.
It’s sort of like a Visa Gift Card, especially because it’s accepted anywhere that accepts Visa. There is a $3 monthly maintenance fee on it, though.
The card also works at the ATM. They have over 30,000 available machines through the nationwide Alliance One or CO-OP Networks.
Final Thoughts
CoVantage Credit Union looks like a solid place to keep your money at if you live in Wisconsin or certain parts of Michigan. They do a lot to give back to the community, they offer a wide range of products, and there are also some unique ones at CCU.
Check it out online at https://www.covantagecu.org/ today.
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*All information in this article was current at the time of this writing, however, it could change without notice. We do our best to keep these updated, however, there is no guarantee you will find the same information on the CU’s website or at the time of opening an account with them.
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