Summit CU (WI) is headquartered in MADISON and is the 3rd largest credit union in the state of Wisconsin. It is also the 77th largest credit union in the nation. It was established in 1935 and as of September of 2013, it had grown to 327 employees and 133,067 members. Summit CU (WI) has a A health rating.
Field of Membership Restrictions
Anyone can join Summit Credit Union. - See Details
Summit Credit Union Review
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.
Data for Q3 2013
Institution Health
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 September 30, 2013 Summit CU (WI) had $19.16 million in non-current loans and owned real-estate with $224.19 million in equity and loan loss allowances on hand to cover it. This gives Summit CU (WI) a Texas Ratio of 8.54% which is excellent. 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) decreased slightly from 11.32% as of September 30, 2012 to 8.54% as of September 30, 2013, resulting in a positive change of 24.49%.This indicates that the balance sheet and financial strength for Summit CU (WI) has improved slightly in recent periods.
Deposit Growth
In the past year, Summit CU (WI) has increased its total deposits by $73.86 million, resulting in 4.61% 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 $1.95 billion in assets with $224.19 million in equity, resulting in a capitalization level of 11.50%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 67190 |
| Year Chartered | 1935 |
| Employees | 327 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $1.95 billion |
| Loans | $1.33 billion |
| Deposits | $1.68 billion |
| Equity Capital | $205.45 million |
| Loan Loss Allowance | $18.75 million |
| Unbacked Noncurrent Loans | $18.10 million |
| Real Estate Owned | $1.05 million |
| Historic Data - September 2012 | |
|---|---|
| Assets | $1.88 billion |
| Equity Capital | $180.62 million |
| Loan Loss Allowance | $19.34 million |
| Unbacked Noncurrent Loans | $18.10 million |
| Real Estate Owned | $1.78 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 2.98% |
| Return on Assets | 1.33% |
| Return on Equity | 12.58% |
| Interest Income | $49.47 million |
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Summit CU (WI) Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $25 | - | IRA | |
| 0.10% | $25 | - | Savings | |
| 0.10% | $25 | - | 2nd Savings | |
| 0.10% | $25 | - | Holiday Savings |
Summit CU (WI) Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $100k | - | Money Market Plus Account Rates |
Summit CU (WI) Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | $2,500 | - | Business Dividend Checking | |
| 0.05% | $25 | - | Dividend Checking |
Summit CU (WI) CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.25% | $500 | - | 60 Month CD | |
| 1.00% | $500 | - | 36 Month CD | |
| 1.00% | $500 | - | 48 Month CD | |
| 0.80% | $500 | - | 16 Month CD Special | |
| 0.45% | $500 | - | 18 Month CD | |
| 0.45% | $500 | - | 24 Month CD | |
| 0.30% | $500 | - | 9 Month CD | |
| 0.30% | $500 | - | 12 Month CD | |
| 0.20% | $500 | - | 6 Month CD | |
| 0.20% | $1k | - | 24 Month Riser CD | |
| 0.20% | $250 | - | 24 Month Plus CD | |
| 0.20% | $250 | - | 18 Month Plus CD | |
| 0.15% | $500 | - | 3 Month CD | |
| 0.15% | $250 | - | 12 Month Plus CD | |
| 0.10% | $250 | - | 6 Month Plus CD |
Summit CU (WI) IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.25% | $500 | - | 60 Month IRA | |
| 1.00% | $500 | - | 36 Month IRA | |
| 1.00% | $500 | - | 48 Month IRA | |
| 0.80% | $500 | - | 16 Month IRA Special | |
| 0.45% | $500 | - | 18 Month IRA | |
| 0.45% | $500 | - | 24 Month IRA | |
| 0.30% | $500 | - | 9 Month IRA | |
| 0.30% | $500 | - | 12 Month IRA | |
| 0.20% | $500 | - | 6 Month IRA | |
| 0.20% | $250 | - | 24 Month Plus IRA | |
| 0.20% | $1k | - | 24 Month Rate Riser IRA | |
| 0.20% | $250 | - | 18 Month Plus IRA | |
| 0.15% | $500 | - | 3 Month IRA | |
| 0.15% | $250 | - | 12 Month Plus IRA | |
| 0.10% | $250 | - | 6 Month Plus IRA |
Summit CU (WI) has 24 locations. Click to view all Summit CU (WI) locations.