CoVantage Credit Union
Nonprofit profile at a glance
- EIN
- 390945701
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-N 2014
- Location
- Antigo, WI, US
- Phone
- 800-398-2667
- Rating confidence
- Limited
- Sector
- Credit Unions
Reported finances
- Revenue
- $234,381,029
- Expenses
- $210,138,925
- Assets
- $3,725,346,803
- Liabilities
- $3,397,650,770
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
21 people listed
Executive titles in this filing
- CHARLES ZANAYED (PRESIDENT)
Highest reported compensation
- CHARLES ZANAYED (PRESIDENT): $846,549 total reported compensation
- SHERRY AULIK (SPECIAL PROJECTS OFFICER): $586,470 total reported compensation
- BRETT LEE (EVP CHIEF RETAIL OFFICER): $418,905 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Outstanding value, exceptional service, and excellent financial products for our members.
What it reported doing in 2024
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. Covantage welcomes all regardless of wealth and made almost 10,000 loans of $5,000 or less. These small dollar loans are not about profit, but about serving our communities. Covantage offers free credit score tracking to help our members build and monitor credit. For those looking for home ownership, covantage also offered its covantage creates homes mortgage program to help those that might need assistance with a down payment or needed home repairs.
Operating model
- Revenue model
- Other-operating. 79% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 74
- Accountability: 100
- Sustainability: 70
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90%; rating input score 90; 4th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 61%; rating input score 61; 12th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 10.3%; rating input score 73; 73rd percentile among comparable filings
- Total-asset coverage ratio: 17.73; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.91; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 2%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 13% per year; rating input score 100; 85th percentile among comparable filings
- Asset growth: 10.9% per year; rating input score 100; 74th percentile among comparable filings
Details
- What they do: 13 programs and campaigns described on the official site · 3 operating locations identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $847K · 21 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $10.8M reported
- Consistency: 11 of 12 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes grants, executive pay, and related organizations
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 32 filed money-flow records
- Related organizations: 14 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 11/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.