Brian J. Prunty

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  www.antigodailyjournal.com/full.php?id=5463 - [Cached Version]
  Published on: 2/15/2008    Last Visited: 2/16/2008  

  "2007 was a good year for your credit union," President Brian Prunty told the crowd at Volm Theater.
  
  "We are grateful for this tradition of success, not only in terms of the bottom line, but more importantly in the quality of service we provide and the value we return to all of our members, regardless of their economic status," he said.
  
  During his address, Prunty stressed the 55-year history of success for the Antigo-based origination.
  
  "We continue to be consistently ranked among the best by Callahan and Associates," he said, which is an independent industry consulting firm that rates the "return to members" provided through deposit accounts, loan products and services offered.
  
  Prunty said he was pleased that in 2007 the CoVantage system appeared on the front page of the Credit Union Times, the industry's top newspaper.
  
  "We were featured on the benefits we provide for our members," he said, "it was nice to get that national recognition."
  
  He explained to the near-capacity crowd that the CoVantage formula for success is to provide "exceptional services," and that is coupled with a drive to improve the financial well being of members.
  
  Prunty explained dividends paid to members and a number of internal workings of the credit union, stressing that "we averaged over $510 million in deposits throughout 2007."
  
  "It works out that we paid an additional $2.6 million in dividends to our depositors than they would have received at an average credit union," he added.
  
  Summarizing, he explained that the extra value CoVantage provided for higher dividends on deposits and less net interest on loans amounted to $3.7 million, adding "that's a lot of money."
  
  Prunty did note that the economy is "slowing down," but stressed confidence that it would make a comeback and perhaps, quite quickly.
  
  He also explained that ground has been broken on a new 6,800 square foot office in the Highway R area of Rib Mountain to add to the facilities already in the booming Wausau market.
  
  At the close of his remarks he saluted the board of directors serving CoVantage.
  
  "They are a talented and dedicated group who I consider an honor to work for," he said.
  
  He also saluted the employees at the offices and the Antigo facility.

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  www.antigodailyjournal.com/full.php?id=4770 - [Cached Version]
  Published on: 10/18/2007    Last Visited: 10/19/2007  

  "We continue to work hard to develop ways to serve all members, regardless of their situation," CoVantage Credit Union President Brian Prunty said."Young, old, financially secure, or living from paycheck to paycheck, all members have financial needs, and it is our job, and all credit unions for that matter, to work to meet those needs."
  
  He added that "at CoVantage, we take pride in the financial value we are able to offer our members.

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  www.antigodailyjournal.com/full.php?id=3599 - [Cached Version]
  Published on: 3/2/2007    Last Visited: 3/2/2007  

  Simon received a plaque from Board Chairman Janelle Markgraf and kind words from President Brian Prunty at the session, which drew 400 people to Antigo High School's Volm Theater.
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  Prunty reflected on the lessons learned from Simon over the past 17 years, especially his compassion and understanding of the needs of families.
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  "He told me about the little guy with the umbrella, which was a symbol used by the credit union industry during the Depression and for some years later," Prunty said.
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  Prunty announced plans to construct a third office in the Wausau area, noting the phenomenal growth in that market since CoVantage's merger with Community Credit Union of Wausau three years ago.The new facility, he said, would be key to attracting younger members, a vital component of growth.
  
  "Marathon County is young and highly populated," Prunty said."And if you travel through it, it is very evident that the Wausau area is on the move.We need to make an investment today for future opportunities tomorrow."
  
  The office will be located along the new Highway R in the town of Rib Mountain, just south and west of Midway Motor Lodge.
  
  Prunty said the credit union has other initiatives in the planning stages as well, including the development of a reverse mortgage program tailored to senior members.
  
  But he noted concerns as well, especially the current interest rate environment that is squeezing earnings due to the narrow margins between what is earned on loans and what is paid on deposits.Those stresses are offset by the strong capital position and low cost of operation.
  
  "I expect us to continue to outperform industry, while providing competitive rates on deposits and continuing the tradition of paying a loan interest rebate," he said.

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  www.covantagecu.org/Insuredfundspopup.html - [Cached Version]
  Last Visited: 9/27/2008  

  To read more about the current status of CoVantage Credit Union, click here to view an article written by Brian Prunty, CEO, in our Fall 2008 Dollars and Sense Newsletter.

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  www.antigodailyjournal.com/full.php?id=6401 - [Cached Version]
  Published on: 7/17/2008    Last Visited: 7/17/2008  

  According to President and CEO Brian Prunty, as of June 30 assets stood at $645 million, up $67 million from one year earlier.Earnings for the six-month period were $3.6 million, an improvement of $660,000 over the same period last year.
  
  "We are very pleased with the financial performance of the credit union, especially in light of current economic conditions," Prunty said."Our earnings add to an already healthy capital position, thus ensuring the credit union remains strong and secure."
  
  The capital level of the credit union at the end of June stood at 11 percent of assets, which is significantly higher than the 7 percent level the credit union's federal regulator, the National Credit Union Administration, considers to be "well capitalized."
  
  In regards to the housing problems widely reported in the news media, Prunty reported that the 30-day delinquency rate on the mortgage portfolio is under 1 percent, which he said would be considered low even in good economic times.
  
  Prunty believes the reasons why the credit union hasn't been hurt by the problems in housing is because of their prudent lending policies, loyal members, and because the housing market in Wisconsin hasn't been impacted to the extent experienced in other parts of the country.

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  www.ironcountyreporter.com/archives/2007/october/10-24- - [Cached Version]
  Published on: 10/24/2007    Last Visited: 1/9/2008  

  CoVantage Credit Union CEO Brian Prunty said, "We truly value our Michigan members and are very happy to serve this area by having modernized and efficient operations in both the Crystal Falls and Iron River communities.

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  AFT Wisconsin: News Room - [Cached Version]
  Published on: 9/3/2005    Last Visited: 11/9/2007  

  Prior to the discussion, Mayor Mike Matousek read a letter from Brian Prunty, president of CoVantage Credit Union, voicing support for the city-hospital land swap.
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  Prunty said the hospital, as a leading employer, is a vital component to the quality of life in the city, willing to make significant investments in the future of the community.

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  Antigo Daily Journal Online - Article Detail - [Cached Version]
  Published on: 12/31/2004    Last Visited: 12/10/2005  

  Originally CoVantage had targeted the northside for the office, but then President and CEO Brian Prunty and the board of directors made a bold decision, selecting a design that allowed the headquarters to remain downtown, its home for the past four decades.

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  Antigo Daily Journal Online - Article Detail - [Cached Version]
  Published on: 7/5/2005    Last Visited: 7/6/2005  

  'This is the next step in the project,' CoVantage President Brian Prunty, winding his way through the construction site, said this morning.
  
  Prunty visits the site located only a few feet from his office once a week or so.He can easily visualize what the completed office building will look like.
  
  'Here is the main entrance that will be used by members off the parking lot,' he said, pointing to columns on the building's east side.
  
  'And here's the main entrance,' he said, walking around the perimeter to the north, to an area featuring curved footings that hint at the attractive facade that will greet credit union customers and visitors.
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  Prunty said that just the lower level of the building,the area already constructed,contains more office space that the credit union currently enjoys.
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  But Prunty said the project and its location are worth it.
  
  'It is because of Antigo that CoVantage is as successful as it is today.It is because of this community's work ethic and values,' he said. 'This is where the office had to be.'
  
  Meanwhile landscape work is underway at CoVantage's drive-through, completed as the first part of the project, to the west.
  
  Prunty explained that the final landscaping will wait until next year and will include attractive flagpoles that will compliment each building.

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  Antigo Daily Journal Online - Article Detail - [Cached Version]
  Published on: 7/7/2004    Last Visited: 7/8/2004  

  From the left they are President Brian Prunty, Dan Hansen, Paul Grinde, Keith Wagner and Mary Moseman.
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  President Brian Prunty said the decision to stay downtown came after the board reviewed proposals from architectural firms, including a plan from PMSI Architects of Wausau to keep the facility on its current block.
  
  "We are especially happy the final solution will keep us downtown, a place we have called home for over four decades," Prunty said.
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  Prunty said work on the new drive-up will commence this fall and the entire facility in use by spring, 2006.
  
  "This plan will provide us with a large enough facility to meet our space needs now and well into the future," Prunty said, noting that the proposed facility more than doubles the current office space.

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