Wausau Postal Employees Credit Union Purchased by CoVantage Credit Union

Member Deposits Protected up to $250,000; Member Service Continues Uninterrupted

ALEXANDRIA, Va. (May 18, 2012) – The Wisconsin Office of Credit Unions liquidated Wausau Postal Employees Credit Union of Wausau, Wis., today and appointed the National Credit Union Administration (NCUA) as liquidating agent. NCUA immediately signed an agreement with CoVantage Credit Union of Antigo, Wis., to purchase and assume Wausau Postal Employees Credit Union’s assets, liabilities, and membership.

The accounts of the new CoVantage Credit Union members remain federally insured by the National Credit Union Share Insurance Fund up to $250,000. The new CoVantage Credit Union members will experience no interruption in services.

 

CoVantage Credit Union is a full-service, federally insured, state-chartered credit union with $1 billion in assets and more than 74,000 members. CoVantage Credit Union serves the people who live or work in Wisconsin’s Brown, Clark, Florence, Forest, Langlade, Lincoln, Marathon, Menominee, Oconto, Oneida, Outagamie, Portage, Shawano, Taylor, Waupaca, and Wood counties or in Michigan’s Dickinson and Iron counties.

 

Wausau Postal Employees Credit Union’s declining financial condition led to its closure and subsequent purchase and assumption. At the time of liquidation, the credit union served 845 members and had $8.4 million in assets.

 

Chartered in 1932, Wausau Postal Employees Credit Union served all postal and federal employees and their families in the 544 and 545 zip codes. Wausau Postal Employees Credit Union is the fifth federally insured credit union liquidation in 2012.

IR Press

Share
Published by
IR Press

Recent Posts

READOUT: U.S. Department of the Treasury Hosts Roundtable Discussion on the Financial Sector’s Response to Recent Hurricanes

WASHINGTON – The U.S. Department of the Treasury hosted a roundtable on October 30 with…

19 hours ago

READOUT: Sixth Meeting of the Financial Working Group Between the United States and the People’s Republic of China

WASHINGTON – The United States and the People’s Republic of China held the sixth meeting…

19 hours ago

Treasury Sanctions Key Members of La Linea, a Group Involved in Trafficking Fentanyl into the United States

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned…

19 hours ago

Minutes of the Meeting of the Treasury Borrowing Advisory Committee October 29, 2024

The Committee convened in a closed session at the Department of the Treasury at 9:00…

2 days ago

Treasury Takes Aim at Third-Country Sanctions Evaders and Russian Producers Supporting Russia’s Military Industrial Base

Sanctions target individuals and entities in 17 jurisdictions; Deputy Secretary calls on countries to take…

2 days ago