CentralAlliance, CoVantage credit unions to merge

ANTIGO, Wis. — Members of CentralAlliance Credit Union have voted overwhelmingly to merge with CoVantage Credit Union, effective Jan. 1.

The merger already had been approved by regulators.

Founded in 1934, CentralAlliance Credit Union has about 5,200 members and nearly $80 million in assets.

“The staff, along with myself and our board of directors, see this as a wonderful opportunity for our members and for our community,” said Tonni Larson, CEO of CentralAlliance. ” … There will be many benefits of membership in this larger credit union, including a wider variety of products and services.”

Said Charlie Zanayed, president and CEO of CoVantage Credit Union, “We are humbled and thankful for this opportunity, and look forward to being able to serve the communities of Neenah, Appleton, and Menasha with branch locations and state-of-the art technologies.”

All three former CentralAlliance offices will remain open with expanded office hours and all staff will remain employed with CoVantage.

CoVantage Credit Union, founded in 1953 and headquartered in Antigo, has assets in excess of $1.5 billion and more than 100,000 member-owners through 16 offices across Wisconsin and upper Michigan.