ANTIGO, WI (August 16, 2019) — After several major storms hit local communities within its field of membership on the weekend of Friday, July 19, CoVantage Credit Union immediately responded by offering assistance in a variety of ways. Homes, surrounding properties, and roads suffered severe damage, and many cities were without power or fresh water for over a week. It was clear that help was needed.
Lindsey Mueller, Community Outreach Advocate at CoVantage Credit Union, contacted local emergency personnel to lend staff volunteer services. Since the storms, over 30 employees have submitted more than 300 hours of their time to the effort. Each person was able to contribute in different ways. Some were skilled in operating a chainsaw, others pitched in to move brush, and the rest helped serve free food to local residents and even out of state crew members.
Alongside physical assistance, CoVantage wanted to provide financial relief to those facing hardships. The credit union quickly began offering special Storm Recovery loans to those dealing with unplanned expenses related to recent storm damage. With this program, eligible borrowers could apply for an unsecured loan up to $25,000 to help with losses or expenses related to property damage, repairs and restoration services, replacement of personal belongings, or to assist until insurance checks arrive. The special Storm Recovery loan rate was 2.99% APR with loan terms up to 4 years. In just a few weeks, over 100 members have taken advantage of this special loan, and the program will continue to be available for people who need assistance in the coming weeks.
“It has been heartwarming to witness so many people pulling together and see neighbors helping neighbors after the storm damage. When disasters that impact our members and their families occur, we want to help. We feel an obligation to the communities where our members and employees live and work and are glad to offer support any way we can,” said Sherry Aulik, Chief Impact Officer. “We believe by offering Storm Recovery loans and time from our staff, CoVantage has helped provide some peace of mind during a very stressful time.”
CoVantage Credit Union, headquartered in Antigo, Wisconsin, has $1.9 billion in assets and serves over 120,000 members across all their locations. Founded in 1953, the financial cooperative serves members living or working in 18 counties in Wisconsin and three counties in the U.P. of Michigan.
Kaitlin Racine
CoVantage Credit Union
kaitlin.racine@covantagecu.org
Brett Lee
715-627-4336
CoVantage Credit Union
Stephanie Bartletti
715-627-4336
CoVantage Credit Union
Media Contact:
Lindsey Mueller
Community Outreach Advocate
CoVantage Credit Union
715-627-4336, ext. 2469
lindsey.mueller@covantagecu.
