The Summit Federal Credit Union
100 Marina Dr
Rochester, NY 14626
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2021 Overview
General Credit Union Information
The Summit is an NCUA insured institution located in Rochester, NY. It was founded in 1941 and has approximately $1196.4 millions in assets.
Who can join?
You're eligible to join if:
You're an employee, retiree, or volunteer of one of The Summit's member companies.
You're related to or share a permanent residence with a Summit member or potential member
You live, work, worship, volunteer, or attend school within the geographic boundaries of one of The Summit's Community Charters:
City of Buffalo
City of Geneva
City of Rochester
City of Syracuse
City of Tonawanda
Town of Amherst
Town of Henrietta
Town of Tonawanda
Cortland County
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 4580 |
| Date Established | 1941 |
| Assets | $1,196.40 million |
| Loans | $913.64 million |
| Deposits | $1,082.53 million |
| Capital | $106.46 million |
Field of Membership Restrictions
Deposit Rates - October 24, 2021
Your Current Location: Connecticut, CT 06828
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| SAV
|
0.03% | $100 | - |
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|
|
Money Market
|
0.07% | $1,500 | - |
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|
|
Money Market
|
0.10% | $10,000 | - |
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|
|
Money Market
|
0.20% | $25,000 | - |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.25% | $500 | - |
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|
| 12 Mo CD
|
0.35% | $500 | - |
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|
| 12 Mo CD
|
0.60% | $75,000 | - |
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|
| 18 Mo CD
|
0.40% | $500 | - |
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|
| 24 Mo CD
|
0.40% | $500 | - |
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|
| 30 Mo CD
|
0.50% | $500 | - |
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|
| 30 Mo CD
|
0.25% | $75,000 | - |
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|
| 36 Mo CD
|
0.50% | $500 | - |
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|
| 48 Mo CD
|
0.50% | $500 | - |
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|
| 60 Mo CD
|
0.55% | $500 | - |
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|
Loan Rates - October 24, 2021
Your Current Location: Connecticut, CT 06828
There are currently no loan rates available for THE SUMMIT
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Connecticut 30 Year Fixed Mortgage Rates 2021
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 2890 License#: 13256 |
2.904% | 2.875% | 0.38 | $928 | $1,038 | Learn More |
NMLS ID: 541760 |
3.172% | 3.100% | 0.88 | $2,315 | $1,068 | Learn More |
NMLS ID: 330511 |
3.166% | 3.125% | 0.50 | $1,312 | $1,071 | Learn More |
NMLS ID: 1429243 |
2.816% | 2.750% | 0.88 | $2,145 | $1,021 | Learn More |
Featured - Connecticut Home Equity Line Of Credit Rates 2021
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Bethpage Federal Credit Union See Table |
Intro APR 2.990 % After Intro: 3.750 % Intro Period: 12 months |
$25,000 |
Learn More
More Info |
Third Federal Savings and Loan See Table |
2.240 %
|
$0 |
Learn More
More Info |
Note to THE SUMMIT
To upload and update your bank's rates please register.
It is free to register and add rates.
Branches
Below are The 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:
Fairfield,Connecticut
Climate Initiatives
THE 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
The Summit Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of The 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
| The Summit | U.S. Average |
|---|---|
| 1.20% | 3.79 |
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 June 30, 2021, The Summit had $1,285,758 in non-current loans and $30,450 in owned assets. To cover these potential losses it had $106,458,196 in net worth and $3,553,833 in loans loss reserves. That gives it a Texas Ratio of 1.20%.
Net Worth
| The Summit | U.S. Average |
|---|---|
| 8.89% | 12.22% |
The Summit FCU has a net worth of 8.89% versus the BestCashCow average of 12.22. 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 The Summit
Branches and Savings
What is The Summit?
A federal credit union, registered with the NCUA under certificate #4580.
Learn more about credit unions here.
Is The Summit FDIC insured?
No, credit unions are not insured by the FDIC. Most, but not all, are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance. The Summit is insured by the NCUA.
Who can join The Summit?
Please see Field of Membership information above for information on who is eligible to join.
How big is The Summit?
The Summit has total capital of $106.46 million. Full information on The Summit's financial position is located above.
Who owns The Summit?
Credit Unions are owned by their members.
Where are The Summit branches located?
See branch locations nearby.
Are The Summit ATMs Open 24/7?
Do The Summit ATMs accept cash deposits?
Can The Summit customers use other ATMs? What is the charge for withdrawing money from another ATM?
Does The Summit have a mobile app?
Does The Summit have mobile deposit?
Does The Summit have quick pay?
How can The Summit transfer money to other banks or credit unions?
Does The Summit report to credit bureaus?
Does The Summit use Chexsystems?
Does The Summit use Equifax?
What is The Summit's toll free phone number?
What is The Summit's ACH Routing Number?
What is The Summit's SWIFT code?
Where can I find The Summit's wire transfer form?
What is the The Summit address for deposits?
What Products Does The Summit Offer
Does The Summit offer home equity lines of credit and home equity loans?
Compare home equity lines of credit rates here.
ashes201@verizon.net
April 12, 2019
Your website states 11 months IRA CD at 3% but when I called in morning, I was told that it expired on 4/10. please update your website.
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