The Summit Federal Credit Union
100 Marina Dr
Rochester, NY 14626
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2022 Overview
General Credit Union Information
The Summit is an NCUA insured institution located in Rochester, NY. It was founded in 1941 and has approximately $1206.94 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 | $1,206.94 million |
| Loans | $963.04 million |
| Deposits | $1,086.76 million |
| Capital | $114.49 million |
Field of Membership Restrictions
Deposit Rates - June 25, 2022
Your Current Location: California, CA 92111
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| SAV
|
0.05% | $100 | - |
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|
|
Money Market
|
0.10% | $1,500 | - |
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|
|
Money Market
|
0.15% | $10,000 | - |
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|
|
Money Market
|
0.25% | $25,000 | - |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.35% | $500 | - |
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|
| 12 Mo CD
|
0.55% | $500 | - |
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|
| 12 Mo CD
|
0.80% | $75,000 | - |
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|
| 18 Mo CD
|
0.70% | $500 | - |
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|
| 24 Mo CD
|
0.70% | $500 | - |
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|
| 30 Mo CD
|
0.80% | $500 | - |
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|
| 30 Mo CD
|
0.25% | $75,000 | - |
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|
| 36 Mo CD
|
0.80% | $500 | - |
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|
| 48 Mo CD
|
0.80% | $500 | - |
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|
| 60 Mo CD
|
0.90% | $500 | - |
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|
Loan Rates - June 25, 2022
Your Current Location: California, CA 92111
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 - California 30 Year Fixed Mortgage Rates 2022
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 1708856 License#: 02058287 |
5.348% | 5.250% | 0.63 | $2,758 | $1,381 | Learn More |
NMLS ID: 503941 |
5.853% | 5.750% | 0.63 | $2,880 | $1,459 | Learn More |
NMLS ID: 330511 |
5.830% | 5.750% | 0.88 | $2,188 | $1,459 | Learn More |
NMLS ID: 3030 |
6.129% | 5.990% | 1.00 | $3,750 | $1,498 | Learn More |
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:
San Diego,California
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 |
|---|---|
| 4.45% | 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, The Summit had $5,228,592 in non-current loans and $30,450 in owned assets. To cover these potential losses it had $114,487,696 in net worth and $3,748,223 in loans loss reserves. That gives it a Texas Ratio of 4.45%.
Net Worth
| The Summit | U.S. Average |
|---|---|
| 9.48% | 12.36% |
The Summit FCU has a net worth of 9.48% 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.
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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