Sunday, September 6, 2015

CoVantage CU to Buy Bank Branch

CoVantage Credit Union (Antigo, WI) has announced they have signed an agreement to purchase the facility operating as Northwoods National Bank in Elcho.

While the agreement between CoVantage Credit Union and The Baraboo National Bank (which owns Northwoods National Bank) is subject to final regulatory approval, plans are being made to transfer ownership of the deposit accounts and overdraft protection lines from Northwoods National Bank to CoVantage.

The Elcho Branch had slightly more than $19.4 million in deposits as of June 30, 2014.

The price tag for this transaction was not disclosed.
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