Covantage Credit Union is a member-owned, not-for-profit financial cooperative that provides a wide range of financial products and services to its members. Covantage is committed to providing its members with the best possible rates on loans and deposits, as well as convenient and easy-to-use financial services.
Covantage Credit Union was founded in 1952 by a group of employees at the former Covance Inc. The credit union has since grown to over 100,000 members and $1 billion in assets. Covantage is headquartered in Greensboro, North Carolina, and has branches throughout the state.
Covantage Credit Union offers a variety of financial products and services, including checking and savings accounts, loans, credit cards, and investment services. The credit union also offers a variety of online and mobile banking services, making it easy for members to manage their finances from anywhere.
Covantage Credit Union
Covantage Credit Union is a member-owned, not-for-profit financial cooperative that provides a wide range of financial products and services to its members. Covantage is committed to providing its members with the best possible rates on loans and deposits, as well as convenient and easy-to-use financial services.
- Member-owned: Covantage is owned by its members, not by outside investors. This means that Covantage is solely focused on the financial well-being of its members.
- Not-for-profit: Covantage is not driven by the need to make a profit. This allows Covantage to offer lower rates on loans and higher rates on deposits than for-profit financial institutions.
- Financial products: Covantage offers a wide range of financial products and services, including checking and savings accounts, loans, credit cards, and investment services.
- Services: Covantage offers a variety of online and mobile banking services, making it easy for members to manage their finances from anywhere.
- Community: Covantage is committed to supporting the communities it serves. The credit union provides financial education programs, sponsors local events, and supports local charities.
- History: Covantage was founded in 1952 by a group of employees at the former Covance Inc.
- Future: Covantage is committed to continuing to provide its members with the best possible financial products and services.
These are just a few of the key aspects of Covantage Credit Union. Covantage is a strong and stable financial institution that is committed to serving its members. Covantage is a great place to save money, borrow money, and manage your finances.
1. Member-owned
As a member-owned credit union, Covantage is not driven by the need to make a profit. This allows Covantage to offer lower rates on loans and higher rates on deposits than for-profit financial institutions. Covantage is also more likely to offer financial products and services that meet the needs of its members, rather than the needs of outside investors.
For example, Covantage offers a variety of financial education programs to help its members make informed financial decisions. Covantage also supports the communities it serves by sponsoring local events and supporting local charities.
The member-owned structure of Covantage Credit Union is a key reason why it has been so successful for over 60 years. Covantage is committed to providing its members with the best possible financial products and services, and to helping its members achieve their financial goals.
2. Not-for-profit
As a not-for-profit credit union, Covantage is solely focused on the financial well-being of its members. This means that Covantage does not need to generate profits for outside investors. Instead, Covantage can reinvest its earnings into offering lower rates on loans and higher rates on deposits for its members.
For example, Covantage currently offers some of the lowest rates on auto loans and mortgages in the state of North Carolina. Covantage also offers some of the highest rates on savings accounts and certificates of deposit. By offering lower rates on loans and higher rates on deposits, Covantage is helping its members save money and grow their wealth.
The not-for-profit structure of Covantage Credit Union is a key reason why it has been so successful for over 60 years. Covantage is committed to providing its members with the best possible financial products and services, and to helping its members achieve their financial goals.
3. Financial products
The wide range of financial products and services offered by Covantage Credit Union is a key reason for its success. Covantage offers a variety of products and services to meet the needs of its members, from basic checking and savings accounts to more complex financial products like loans, credit cards, and investment services.
Covantage's financial products and services are designed to help members achieve their financial goals. For example, Covantage offers a variety of savings accounts to help members save for the future. Covantage also offers a variety of loans to help members purchase a home, car, or other large purchase. And Covantage's investment services can help members grow their wealth over time.
The financial products and services offered by Covantage Credit Union are a valuable resource for members. Covantage's products and services can help members save money, borrow money, and grow their wealth. By offering a wide range of financial products and services, Covantage is helping its members achieve their financial goals.
4. Services
The online and mobile banking services offered by Covantage Credit Union are a valuable resource for members. These services allow members to manage their finances from anywhere, at any time. This is especially convenient for members who are always on the go or who live in rural areas where there may not be a Covantage branch nearby.
Covantage's online and mobile banking services include the ability to:
- Check account balances
- View transaction history
- Transfer funds between accounts
- Pay bills
- Deposit checks
- Apply for loans
- Open new accounts
These services are easy to use and secure. Members can access their accounts from any computer or mobile device with an internet connection. Covantage also uses the latest security technology to protect members' information.
The online and mobile banking services offered by Covantage Credit Union are a valuable resource for members. These services make it easy for members to manage their finances from anywhere, at any time. This is especially convenient for members who are always on the go or who live in rural areas where there may not be a Covantage branch nearby.
In conclusion, the online and mobile banking services offered by Covantage Credit Union are a valuable resource for members. These services make it easy for members to manage their finances from anywhere, at any time. This is especially convenient for members who are always on the go or who live in rural areas where there may not be a Covantage branch nearby.
5. Community
Covantage is not simply a financial institution - it's a community partner. The credit union's commitment to the communities it serves is evident in the many ways it gives back.
- Financial Education
Covantage provides financial education programs to help people of all ages make informed financial decisions. These programs cover a variety of topics, including budgeting, saving, and investing. Covantage also offers free financial counseling to members and non-members alike.
- Sponsorship of Local Events
Covantage sponsors a variety of local events, including festivals, concerts, and sporting events. These sponsorships help to support the community and make it a more vibrant place to live.
- Support for Local Charities
Covantage supports local charities through donations and volunteerism. The credit union's employees volunteer their time at local organizations, and Covantage makes donations to a variety of charitable causes.
Covantage's commitment to community is one of the things that makes it such a special financial institution. Covantage is not only a place to save and borrow money, it's also a place that cares about the community it serves.
6. History
The history of Covantage Credit Union is closely tied to the history of Covance Inc., a global pharmaceutical company. In 1952, a group of employees at Covance Inc. founded Covantage Credit Union as a way to provide financial services to their fellow employees.
Covantage Credit Union has grown significantly since its founding, and it now serves over 100,000 members in North Carolina and South Carolina. However, Covantage Credit Union remains committed to its original mission of providing financial services to its members.
The history of Covantage Credit Union is a reminder of the importance of credit unions in the financial system. Credit unions are not-for-profit financial cooperatives that are owned by their members. This means that credit unions are solely focused on the financial well-being of their members, rather than on making a profit.
Covantage Credit Union is a shining example of the credit union difference. Covantage Credit Union provides its members with a wide range of financial products and services, including checking and savings accounts, loans, credit cards, and investment services. Covantage Credit Union also offers a variety of online and mobile banking services, making it easy for members to manage their finances from anywhere.
If you are looking for a financial institution that is committed to its members, then Covantage Credit Union is the right choice for you. Covantage Credit Union offers a wide range of financial products and services, and it is committed to providing its members with the best possible rates and service.
7. Future
Covantage Credit Union is a forward-thinking financial institution that is committed to providing its members with the best possible financial products and services. Covantage is constantly looking for ways to improve its products and services, and to develop new products and services that meet the needs of its members.
- Innovation
Covantage is a leader in innovation in the financial industry. Covantage was one of the first credit unions to offer online banking, and it continues to be a leader in developing new and innovative financial products and services.
- Member Service
Covantage is committed to providing its members with the best possible service. Covantage's employees are friendly and knowledgeable, and they are always willing to go the extra mile to help members.
- Community Involvement
Covantage is a strong supporter of the communities it serves. Covantage sponsors a variety of local events and organizations, and Covantage employees volunteer their time to help make a difference in the community.
Covantage Credit Union is a strong and stable financial institution that is committed to its members. Covantage is committed to providing its members with the best possible financial products and services, and to helping its members achieve their financial goals.
Covantage Credit Union FAQs
This section provides answers to frequently asked questions about Covantage Credit Union.
Question 1: What is Covantage Credit Union?
Answer: Covantage Credit Union is a member-owned, not-for-profit financial cooperative that provides a wide range of financial products and services to its members.
Question 2: Who can join Covantage Credit Union?
Answer: Anyone who lives, works, worships, or attends school in Alamance, Caswell, Durham, Forsyth, Franklin, Granville, Guilford, Orange, Person, Rockingham, Stokes, Surry, Vance, or Wake counties in North Carolina is eligible to join Covantage Credit Union.
Question 3: What are the benefits of joining Covantage Credit Union?
Answer: There are many benefits to joining Covantage Credit Union, including:
Lower loan ratesHigher savings ratesNo-fee checking accountsFree online and mobile bankingAccess to a wide range of financial products and servicesQuestion 4: How do I join Covantage Credit Union?
Answer: You can join Covantage Credit Union online, by phone, or in person at any of our branches. To join online, visit our website at www.covantagecu.org. To join by phone, call 1-800-COVANTAGE (1-800-268-2682). To join in person, visit any of our branches.
Question 5: What is the difference between a credit union and a bank?
Answer: Credit unions are not-for-profit financial cooperatives that are owned by their members, while banks are for-profit institutions that are owned by their shareholders. This means that credit unions can offer lower loan rates and higher savings rates than banks, and they are more likely to offer products and services that meet the needs of their members.
Question 6: Is my money safe at Covantage Credit Union?
Answer: Yes, your money is safe at Covantage Credit Union. Covantage is insured by the National Credit Union Administration (NCUA), which is a federal agency that insures deposits up to $250,000.
We hope this FAQ section has answered your questions about Covantage Credit Union. If you have any other questions, please do not hesitate to contact us.
To learn more about Covantage Credit Union, please visit our website at www.covantagecu.org.
Tips by "covantage credit union"
As a member-owned, not-for-profit financial cooperative, Covantage Credit Union is committed to providing its members with the best possible financial products and services. Here are a few tips to help you get the most out of your Covantage Credit Union membership:
Tip 1: Take advantage of Covantage's low loan rates.
Covantage Credit Union offers some of the lowest loan rates in the state of North Carolina. Whether you're looking for a mortgage, auto loan, or personal loan, Covantage has a loan that's right for you. To see our current loan rates, visit our website at www.covantagecu.org.
Tip 2: Save money with Covantage's high savings rates.
Covantage Credit Union offers some of the highest savings rates in the state of North Carolina. Whether you're saving for a down payment on a house, a new car, or retirement, Covantage can help you reach your savings goals faster. To see our current savings rates, visit our website at www.covantagecu.org.
Tip 3: Take advantage of Covantage's free checking accounts.
Covantage Credit Union offers a variety of free checking accounts to meet your needs. Whether you're looking for a basic checking account or a checking account with more features, Covantage has a checking account that's right for you. To learn more about our free checking accounts, visit our website at www.covantagecu.org.
Tip 4: Use Covantage's free online and mobile banking services.
Covantage Credit Union offers a variety of free online and mobile banking services to make it easy for you to manage your finances from anywhere, at any time. With Covantage's online and mobile banking services, you can check your account balances, view transaction history, transfer funds, pay bills, and more. To learn more about our free online and mobile banking services, visit our website at www.covantagecu.org.
Tip 5: Take advantage of Covantage's financial education programs.
Covantage Credit Union offers a variety of free financial education programs to help you make informed financial decisions. Whether you're just starting out or you're looking to improve your financial literacy, Covantage has a financial education program that's right for you. To learn more about our free financial education programs, visit our website at www.covantagecu.org.
Summary of key takeaways or benefits:
- Covantage Credit Union offers some of the lowest loan rates in the state of North Carolina.
- Covantage Credit Union offers some of the highest savings rates in the state of North Carolina.
- Covantage Credit Union offers a variety of free checking accounts to meet your needs.
- Covantage Credit Union offers a variety of free online and mobile banking services to make it easy for you to manage your finances from anywhere, at any time.
- Covantage Credit Union offers a variety of free financial education programs to help you make informed financial decisions.
Transition to the article's conclusion:
Covantage Credit Union is a great choice for anyone who is looking for a financial institution that is committed to providing its members with the best possible financial products and services. With its low loan rates, high savings rates, free checking accounts, free online and mobile banking services, and free financial education programs, Covantage has something to offer everyone.
Conclusion
Covantage Credit Union is a member-owned, not-for-profit financial cooperative that is committed to providing its members with the best possible financial products and services. Covantage offers a wide range of financial products and services, including checking and savings accounts, loans, credit cards, and investment services. Covantage also offers a variety of online and mobile banking services, making it easy for members to manage their finances from anywhere.
Covantage Credit Union is a strong and stable financial institution that is committed to its members. Covantage is committed to providing its members with the best possible financial products and services, and to helping its members achieve their financial goals. If you are looking for a financial institution that is committed to its members, then Covantage Credit Union is the right choice for you.
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