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Overview / Commentary
800-236-5560
P.O. Box 8046
Madison, WI 53708

Summit CU (WI) is headquartered in Madison and is the 3rd largest credit union in the state of Wisconsin. It is also the 79th largest credit union in the nation. It was established in 1935 and as of December of 2013, it had grown to 334 employees and 136,174 members. Summit CU (WI) has a A+ health rating.

Field of Membership Restrictions

Anyone can join Summit Credit Union. - See Details

Reviews (2)

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. 

Big town credit union small town feel

I feel like a real person at Summit and not based by the amount in my account. I like the fee free ATM and I love the Pay if Forward idea. The Credit Union is involved in the community and I appreciate that. I can't see myself changing to another financial institution and for the first time I actually enjoy going to a financial institution.



Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

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, 2013 Summit CU (WI) had $16 million in non-current loans and owned real-estate with $234.29 million in equity and loan loss allowances on hand to cover it. This gives Summit CU (WI) a Texas Ratio of 6.83% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Summit CU (WI) decreased slightly from 8.89% as of December 31, 2012 to 6.83% as of December 31, 2013, resulting in a positive change of 23.17%.This indicates that the balance sheet and financial strength for Summit CU (WI) has improved slightly in recent periods.

Deposit Growth

GRADE:
A

In the past year, Summit CU (WI) has increased its total deposits by $67.08 million, resulting in 4.19% 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

GRADE:
A

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 $1.96 billion in assets with $234.29 million in equity, resulting in a capitalization level of 11.98%, which is excellent.

Institution Statistics

Overall
NCUA #67190
Year Chartered1935
Employees334
Primary Regulator
Assets and Liabilities
Assets$1.96 billion
Loans$1.38 billion
Deposits$1.67 billion
Equity Capital$215.76 million
Loan Loss Allowance$18.53 million
Unbacked Noncurrent Loans$14.89 million
Real Estate Owned$1.12 million
Historic Data - December 2012
Assets$1.89 billion
Equity Capital$191.43 million
Loan Loss Allowance$19.66 million
Unbacked Noncurrent Loans$14.89 million
Real Estate Owned$1.60 million
Profit Margin - Quarterly
Net Interest Margin3.86%
Return on Assets1.41%
Return on Equity12.79%
Interest Income$66.75 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Summit CU (WI), we are a rate comparison website and can not provide official rates or promotions.

Summit CU (WI) Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$25-IRA
0.15%$25$10kGoSave Account
0.10%$25-Savings
0.10%$25-2nd Savings
0.10%$25-Holiday Savings

Summit CU (WI) Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$100k-Money Market Plus Account Rates

Summit CU (WI) Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$2,500-Business Dividend Checking
0.05%$25-Dividend Checking

Summit CU (WI) CD Rates

DetailsAPYMINMAXPRODUCT
1.50%$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

DetailsAPYMINMAXPRODUCT
1.50%$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
Locations

Summit CU (WI) has 24 locations. Click to view all Summit CU (WI) locations.