MENOMINEE — The CoVantage Credit Union Board of Directors has authorized that up to $20 million be made available to assist existing credit union member-owners affected financially by the recent pandemic emergency. These COVID-19 Member Relief efforts will focus on providing financial relief for CoVantage members that includes opportunities for deferring payments on existing loans, waiving late fees on loans, deferring first payments on new consumer loans, and more. 

According to Charlie Zanayed, CoVantage CEO, “CoVantage has a long history of assisting member-owners in times of need, and we are devoted to helping those who have supported their credit union. We are so grateful for the trust our member-owners place in us; their loyalty is why CoVantage is a cooperative with nearly $2 billion in assets and consistently rated one of the healthiest and best-performing credit unions in the country. CoVantage would not be able to offer this relief program if it wasn’t for our members’ support. Credit unions were created to serve during difficult times, and CoVantage is well-positioned to make these resources available to our members today.”

“While we certainly won’t be able to help every individual or business, and we can’t solve every problem, we will always be ready to try to be there for those who are a part of our cooperative,” added Zanayed.

Current CoVantage member-owners who need financial assistance, should call 800-398-2667 or visit for more information.