Summit Credit Union

Headquarters

Po Box 8046
Madison, WI 53708
See all branch locations →

Phone 1-608-245-5698

Notable Rates APY Vs.Others
Savings 0.05% 1.15% →
1-Year CD 0.35% 1.50% →
2-Year CD 0.55% 2.86% →
5-Year CD 1.00% 3.21% →
30-Year Mortgage 3.82% 2.81% →
15-Year Mortgage 3.37% 2.36% →
HELOC N.A. 2.79% →

2022 Overview

General Credit Union Information

Summit is an NCUA insured institution located in Madison, WI. It was founded in 1935 and has approximately $4830.58 millions in assets.

Who can join?

To join the credit union you must meet the membership requirements including purchase and maintenance of the minimum required share(s) (“membership share”) as set forth in the credit union’s bylaws.

NCUA Insured Yes / State-Chartered
Charter Number # # 67190
Date Established 1935
Assets $4,830.58 million
Loans $3,569.68 million
Deposits $3,832.42 million
Capital $565.57 million
 

Field of Membership Restrictions

While many credit unions are still exclusive to certain companies or localities, Summit was the first to be granted on open charter, allowing anyone to become a member.

Deposit Rates - May 27, 2022

Your Current Location: Washington, WA 98101

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.07% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.20% $25,000 $29,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
6 Mo CD
0.25% $10,000 $14,999 Learn More
6 Mo CD
0.25% $100,000 $199,999 Learn More
12 Mo CD
0.35% $10,000 $14,999 Learn More
12 Mo CD
0.35% $100,000 $199,999 Learn More
18 Mo CD
0.45% $10,000 $14,999 Learn More
18 Mo CD
0.45% $100,000 $199,999 Learn More
24 Mo CD
0.55% $10,000 $14,999 Learn More
24 Mo CD
0.55% $100,000 $199,999 Learn More
36 Mo CD
0.65% $10,000 $14,999 Learn More
36 Mo CD
0.65% $100,000 $199,999 Learn More
48 Mo CD
0.80% $10,000 $14,999 Learn More
48 Mo CD
0.80% $100,000 $199,999 Learn More
60 Mo CD
1.00% $10,000 $14,999 Learn More
60 Mo CD
1.00% $100,000 $199,999 Learn More
Int Checking Rates APY MIN MAX
Int Ckg
0.15% $2,500 $3,499 Learn MoreShow Less

Loan Rates - May 27, 2022

Your Current Location: Washington, WA 98101

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 3.79% 3.79% $735.77
4 Year 3.79% 3.79% $562.13
5 Year 3.99% 3.99% $460.30
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.


 

Branches

Below are Summit branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Seattle,Washington


Summit Locations



Climate Initiatives

SUMMIT is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.

Financial Details

Summit Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Summit. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.

Texas Ratio
Summit U.S. Average
2.70% 4.85

The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.

As of December 31, 2021, Summit had $15,348,663 in non-current loans and $390,321 in owned assets. To cover these potential losses it had $565,565,300 in net worth and $16,998,679 in loans loss reserves. That gives it a Texas Ratio of 2.70%.

Net Worth
Summit U.S. Average
11.7% 12.36%

Summit FCU has a net worth of 11.7% versus the BestCashCow average of 12.36. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

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