ANTIGO, Wis. — CoVantage Credit Union will said it will distribute a record $7.5 million in patronage payments to its members at the end of the year, the largest payout in its history.
The $4-billoin CoVantage CU said the money will be deposited into member accounts on Dec. 31 and includes both bonuses on dividends for savers and loan-interest rebates for borrowers. According to the credit union, more than $30 million has been returned to members through patronage over the last five years.
45 Consecutive Years
The 2025 payout marks the 45th consecutive year CoVantage has issued patronage benefits.
Savers will receive bonuses on dividends earned from eligible certificates, money market, and savings accounts. Borrowers will get a rebate on 2025 interest paid on certain vehicle, home equity, in-house mortgage, credit-card, and commercial loans, CoVantage said.
President Charlie Zanayed said in a statement the credit union delivered $88 million in value to members this year and saw strong financial results, including more than $40 million in net income. Membership has surpassed 182,000, and assets now exceed $4 billion.
‘True to Our Mission’
“We measure success by staying true to our mission,” Zanayed said. “These outcomes are only possible because of the loyalty and trust of our member-owners.”
Other CUs Paying Bonuses, Rebates
CoVantage Credit Union is the third CU in two weeks to announce year-end payouts to members. Others have included:
- WARNER ROBINS, Ga. – Robins Financial Credit Union said it has returned $20 million to members through its Member Rebate program, which it said reflects its ongoing commitment to sharing its success and supporting the financial well-being of the members it serves.
- OGDEN, Utah–Goldenwest Credit Union said it is paying out a record-breaking $4 million to its members through its Golden Rewards Loyalty Bonus program.
