Wisconsin state flag. (Source: AdobeStock) Wisconsin state flag. (Source: AdobeStock)

The $2.6 billion CoVantage Credit Union based in the northern Wisconsin town of Antigo entered into an agreement to buy LincolnWay Community Bank, located more than 300 miles to the south in New Lenox, Ill., just south of Chicago.

In an announcement released Wednesday, officials with CoVantage said the credit union and bank boards of directors approved the proposed transaction, which would allow CoVantage to “purchase substantially all of the assets and liabilities” of the $277 million LincolnWay, a wholly-owned subsidiary of LWCBancorp, Inc.

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Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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