2019 Overview

General Credit Union Information

NCUA Insured Yes
Charter Number # # 7182
Date Established 1951
Assets $46.53 million
Loans $27.55 million
Deposits $40.50 million
Capital $5.81 million

Summit is an NCUA insured institution located in Akron, OH. It was founded in 1951 and has approximately $46.53 millions in assets.

Field of Membership Restrictions

Membership at Summit Federal is open to any employees or members of eligible companies and organizations, as well as their immediate family members.

Deposit Rates - August 18, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Money Market
0.45% $2,000 - Learn MoreShow Less
Fixed IRA Rates APY MIN MAX
Fixed IRA
1.25% $500 - Learn MoreShow Less
Special: 18 Mo FIRA
2.25% $500 - Learn MoreShow Less
CD Rates (Share Certificate Rates) APY MIN MAX
3 Mo CD
0.45% $2,500 - Learn MoreShow Less
6 Mo CD
0.75% $2,500 - Learn MoreShow Less
12 Mo CD
1.25% $500 - Learn MoreShow Less
Special: 18 Mo CD
2.25% $500 - Learn MoreShow Less
18 Mo CD
2.25% $500 - Learn MoreShow Less
24 Mo CD
1.50% $500 - Learn MoreShow Less
36 Mo CD
1.80% $500 - Learn MoreShow Less
48 Mo CD
2.10% $500 - Learn MoreShow Less
60 Mo CD
2.40% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.10% $101 - Learn MoreShow Less

Loan Rates - August 18, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for SUMMIT

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
3.414% 3.375% 0.50 $1,238 $1,106 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
4.490 %
$0 Learn More
More Info

Note to SUMMIT
To upload and update your bank's rates please register. It is free to register and add rates.



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
0.90% 6.77

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 March 31, 2019, Summit had $47,949 in non-current loans and $6,240 in owned assets. To cover these potential losses it had $5,809,378 in net worth and $235,432 in loans loss reserves. That gives it a Texas Ratio of 0.90%.

Net Worth
Summit U.S. Average
12.48% 13.47%

Summit FCU has a net worth of 12.48% versus the BestCashCow average of 13.47. 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 #7182.
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 $5.81 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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