March 2011
Wisconsin Heights CU Closed; Members Now Served by CoVantage Credit Union
Service to Members Continues Uninterrupted; Deposits Federally Insured up to $250,000
ALEXANDRIA, Va. (March 4, 2011) -- The National Credit Union Administration (NCUA) today was appointed liquidating agent of Wisconsin Heights Credit Union of Ogema, Wisconsin, by the Wisconsin Office of Credit Unions.
NCUA immediately signed an agreement with CoVantage Credit Union of Antigo, Wisconsin, to assume the members, assets and liabilities of Wisconsin Heights Credit Union. Wisconsin Heights Credit Union’s members will experience no interruption of credit union service. Their accounts remain federally insured by the National Credit Union Share Insurance Fund (NCUSIF) up to at least $250,000.
CoVantage Credit Union serves the people who live or work in the Wisconsin counties of Brown, Clark, Florence, Forest, Langlade, Lincoln, Marathon, Menominee, Oconto, Oneida, Outagamie, Portage, Shawano, Waupaca and Wood; or Dickinson and Iron counties in Michigan. CoVantage Credit Union has $861 million in assets and serves over 62,000 members.
CoVantage Credit Union is a full-service credit union with eight branches in Wisconsin and two branches in the Upper Peninsula of Michigan.
Wisconsin Heights Credit Union’s declining financial condition led to its closure and subsequent purchase and assumption. At closure, Wisconsin Heights Credit Union had $713,000 in assets and served 501 members. Wisconsin Heights Credit Union is the fourth federally insured credit union liquidation in 2011.