Average User Rating:
5 star rating based on 1 review.

Summit CU (WI)

PO Box 8046
Madison, WI 537088046
(800) 236-5560
www.summitcreditunion.com

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Summit CU (WI) is headquartered in Madison and is the 2^nd largest credit union in the state of Wisconsin. It is also the 80^th largest credit union in the nation. It was established in 1935 and as of December of 2011, it had grown to 302 employees and 122,974 members. Summit CU (WI) has a 4-star health rating.

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See Rates for: Checking | Savings | Money Market | CD | IRA

Summit CU (WI) Checking Account Rates

Apy	Min	Max	Product
0.08%	$25	-	Dividend Checking
0.05%	$2,500	-	Business Dividend Checking

Summit CU (WI) Savings Account Rates

Apy	Min	Max	Product
0.20%	$25	-	IRA
0.11%	$25	-	Savings
0.11%	$25	-	2nd Savings
0.11%	$25	-	Holiday Savings

Summit CU (WI) Money Market Rates

	Apy	Min	Max	Product
	0.60%	$100k	-	Money Market Plus Account Rates

Summit CU (WI) CD Rates

Apy	Min	Max	Product
2.00%	$500	-	60 Month CD
1.35%	$500	-	48 Month CD
1.20%	$500	-	36 Month CD
1.00%	$500	-	24 Month CD
0.75%	$1k	-	24 Month Riser CD
0.75%	$250	-	24 Month Plus CD
0.65%	$500	-	18 Month CD
0.60%	$500	-	12 Month CD
0.55%	$500	-	9 Month CD
0.40%	$250	-	18 Month Plus CD
0.35%	$500	-	6 Month CD
0.35%	$250	-	12 Month Plus CD
0.25%	$100	$10k	12 Month GoSave
0.20%	$500	-	3 Month CD
0.10%	$250	-	6 Month Plus CD

Summit CU (WI) IRA Rates

Apy	Min	Max	Product
2.00%	$500	-	60 Month IRA
1.35%	$500	-	48 Month IRA
1.20%	$500	-	36 Month IRA
1.00%	$500	-	24 Month IRA
0.75%	$250	-	24 Month Plus IRA
0.75%	$1k	-	24 Month Riser IRA
0.65%	$500	-	18 Month IRA
0.60%	$500	-	12 Month IRA
0.55%	$500	-	9 Month IRA
0.40%	$250	-	18 Month Plus IRA
0.35%	$500	-	6 Month IRA
0.35%	$250	-	12 Month Plus IRA
0.20%	$500	-	3 Month IRA
0.10%	$250	-	6 Month Plus IRA

Rates updated: 5/27/2012

Data for Q4 2011

Institution Statistics

SUMMIT
NCUA #	67190
BankRate Report	View
Year Chartered	1935
Employees	302
Primary Regulator
Assets and Liabilities
Assets	$1.74 billion
Loans	$1.18 billion
Deposits	$1.46 billion
Equity Capital	$156.74 million
Loan Loss Allowance	$18.59 million
Unbacked Noncurrent Loans	$19.58 million
Real Estate Owned	$3.09 million
Historic Data - December 2010
Assets	$1.58 billion
Equity Capital	$137.04 million
Loan Loss Allowance	$14.69 million
Unbacked Noncurrent Loans	$13.40 million
Real Estate Owned	$2.22 million
Profit Margin - Quarterly
Net Interest Margin	4.1%
Return on Assets	1.02%
Return on Equity	11.3%
Interest Income	$69.37 million
Non-Interest Income	$24.50 million

Institution Health

Overall Score:

4 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2011 Summit CU (WI) had $22.66 million in non-current loans and owned real-estate with $175.33 million in equity and loan loss allowances on hand to cover it. This gives Summit CU (WI) a Texas Ratio of 12.93% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Summit CU (WI) held steady from 10.29% as of December 31, 2010 to 12.93% as of December 31, 2011, resulting in a negative change of 25.58%. This indicates that the balance sheet and financial strength for Summit CU (WI) has held steady in recent periods.
Deposit Growth
In the past year, Summit CU (WI) has increased its total deposits by $131.49 million, resulting in 9.89% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Summit CU (WI) has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Summit CU (WI) has $1.74 billion in assets with $175.33 million in equity, resulting in a capitalization level of 10.10%, which is above average.

Summit Credit Union Review
5 stars

- DBKaalberg - Friday, June 18, 2010 - 12:12 PM

We have been a member of Summit Credit Union in Sun Prairie, WI for several years now and they have never failed to bend over backward to meet our every need. We used to belong to another bank when we first moved here and were so disappointed in their service that we actively sought out a different financial institution. SCU is always willing to sit down with you and go over anything you want to look at. When my mother moved up here, we suggested SCU to her and she has had great success with them. She sometimes gets confused and doesn't understand things. They will call her to discuss transactions or she will go there and they will sit down and go over her accounts with her. That is SO awesome. When we started our own business, they were wonderful about helping us figure out a plan of "attack" and helping us to figure out how to get the money we needed. I can't say enough good things about them.