SUMMIT

Headquarters

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

Phone 1-608-245-5698

Notable Rates APY Vs.Others
Savings 0.05% 1.60% →
1-Year CD 0.35% 1.55% →
2-Year CD 0.55% 1.45% →
5-Year CD 1.00% 1.66% →
30-Year Mortgage 3.82% 3.09% →
15-Year Mortgage 3.37% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Credit Union Information

Summit is an NCUA insured institution located in Madison, WI. It was founded in 1935 and has approximately $3605.42 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
Charter Number # # 67190
Date Established 1935
Assets $3,605.42 million
Loans $2,910.33 million
Deposits $2,671.88 million
Capital $416.11 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 - June 3, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Savings
0.05% $25 - Learn More
Money Market
0.15% $2,500 $9,999 Learn More
Money Market
0.15% $10,000 $24,999 Learn More
Money Market
0.20% $25,000 $49,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
3 Mo CD
0.25% $500 - Learn More
6 Mo CD
0.25% $500 - Learn More
12 Mo CD
0.35% $500 - Learn More
18 Mo CD
0.45% $500 - Learn More
24 Mo CD
0.55% $500 - Learn More
36 Mo CD
0.75% $500 - Learn More
48 Mo CD
0.95% $500 - Learn More
60 Mo CD
1.00% $500 - Learn More
Variable IRA Rates APY MIN MAX
Var IRA
0.15% $25 - Learn MoreShow Less
Fixed IRA Rates APY MIN MAX
Fixed IRA
0.75% $500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.15% $2,500 - Learn MoreShow Less

Loan Rates - June 3, 2020

Your Current Location: Virginia, VA 20146

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:
Ashburn,Virginia


Summit Locations


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
3.47% 5.92

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 September 30, 2019, Summit had $14,290,749 in non-current loans and $853,177 in owned assets. To cover these potential losses it had $416,105,290 in net worth and $20,334,344 in loans loss reserves. That gives it a Texas Ratio of 3.47%.

Net Worth
Summit U.S. Average
11.54% 13.86%

Summit FCU has a net worth of 11.54% versus the BestCashCow average of 13.86. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

Frequently Asked Questions About Summit

Branches and Savings

What is Summit?

A federal credit union, registered with the NCUA under certificate #67190.
Learn more about credit unions here.

Is Summit FDIC insured?

No, credit unions are not insured by the FDIC. They are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance.

Who can join Summit?

Please see Field of Membership information above for information on who is eligible to join.

What are Summit's share account and share certificate rates?

Summit's deposit account rates are listed above.
You may find better online savings rates here or better local savings rates at banks or credit unions. Tables with the best CD rates are here.

How big is Summit?

Summit has total capital of $416.11 million. Full information on Summit's financial position is located above.

Who owns Summit?

Credit Unions are owned by their members.

Where are Summit branches located?

See branch locations nearby.

Are Summit ATMs Open 24/7?

Do Summit ATMs accept cash deposits?

Can Summit customers use other ATMs? What is the charge for withdrawing money from another ATM?

Does Summit have a mobile app?

Does Summit have mobile deposit?

Does Summit have quick pay?

How can Summit transfer money to other banks or credit unions?

Does Summit report to credit bureaus?

Does Summit use Chexsystems?

Does Summit use Equifax?

What is Summit's toll free phone number?

What is Summit's ACH Routing Number?

What is Summit's SWIFT code?

Where can I find Summit's wire transfer form?

What is the Summit address for deposits?

What Products Does Summit Offer

Does Summit offer mortgages?

Compare mortgage rates here.

Does Summit offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Summit offer auto and RV loans?

Compare auto loan rates here.

Does Summit offer student loans or personal loans?

Compare personal loan rates here.

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