THE SUMMIT

100 MARINA DR
Rochester, NY 14626

 

2019 Overview

General Credit Union Information

NCUA Insured Yes
Charter Number # # 4580
Date Established 1941
Assets $901.88 million
Loans $852.40 million
Deposits $796.04 million
Capital $89.13 million

The Summit is an NCUA insured institution located in Rochester, NY. It was founded in 1941 and has approximately $901.88 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

Field of Membership Restrictions

Membership in The Summit Federal Credit Union is open to those who live, work, worship, volunteer or attend school in the City of Buffalo, City of Geneva, City of Rochester, City of Syracuse, City of Tonawanda, Town of Amherst, Town of Henrietta, Town of Tonawanda, or Cortland County. Employees, retirees, or volunteers of a member company are also eligible to join, as are the relatives of existing Credit Union members.

Deposit Rates - June 17, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Money Market
0.60% $1,500 $9,999 Learn MoreShow Less
Money Market
0.70% $10,000 $24,999 Learn MoreShow Less
Money Market
0.80% $25,000 $49,999 Learn MoreShow Less
Premium Money Market Account
0.90% $1,500 $74,999 Learn MoreShow Less
Fixed IRA Rates APY MIN MAX
2.45% $500 $74,999 Learn MoreShow Less
CD Rates (Share Certificate Rates) APY MIN MAX
3 Mo CD
0.75% $500 $74,999 Learn MoreShow Less
3 Mo CD
1.00% $75,000 - Learn MoreShow Less
1.30% $500 $74,999 Learn MoreShow Less
6 Mo CD
1.55% $75,000 - Learn MoreShow Less
2.45% $500 $74,999 Learn MoreShow Less
12 Mo CD
2.70% $75,000 - Learn MoreShow Less
2.70% $500 $74,999 Learn MoreShow Less
2.70% $500 $74,999 Learn MoreShow Less
24 Mo CD
2.95% $75,000 - Learn MoreShow Less
2.75% $500 $74,999 Learn MoreShow Less
2.75% $500 $74,999 Learn MoreShow Less
48 Mo CD
2.90% $500 - Learn MoreShow Less
60 Mo CD
2.90% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.90% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.15% $1,000 - Learn MoreShow Less

Loan Rates - June 17, 2019

Your Current Location: Virginia, VA 20146

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 - Virginia 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
4.500% 4.500% 0.00 $0 $1,267 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
5.250% 5.250% 0.00 $0 $1,381 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
5.500 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
4.490 %
$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:
Ashburn,Virginia


The Summit Locations


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
6.91% 7.49

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, 2018, The Summit had $6,297,350 in non-current loans and $50,000 in owned assets. To cover these potential losses it had $89,125,907 in net worth and $2,680,988 in loans loss reserves. That gives it a Texas Ratio of 6.91%.

Net Worth
The Summit U.S. Average
9.88% 13.61%

The Summit FCU has a net worth of 9.88% versus the BestCashCow average of 13.61. 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. 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 The Summit?

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

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

The 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 The Summit?

The Summit has total capital of $89.13 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 mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does The Summit offer auto and RV loans?

Compare auto loan rates here.

Does The Summit offer student loans or personal loans?

Compare personal loan rates here.

Customer Reviews for The Summit


  • 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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