Summit Credit Union

100 Wheeler St.
Akron, OH 44309
(330) 376-3626
www.summitfcu.com

NCUA

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Summit Credit Union is headquartered in Akron and is the 114^st largest credit union in the state of Ohio. It is also the 2,565^th largest credit union in the nation. It was established in 1951 and as of December of 2012, it had grown to 13 employees and 5,744 members. Summit Credit Union has a 5-star health rating.

3.75% 9-Month / 4.00% 27-Month CD at a North Carolina CU (Summit) - 3/26/2008

Update 4/05/08: The special 9-month CD yield has fallen from 4.25% to 3.75% APY. The title has been modified to reflect this change.Summit Credit Union is offering some attractive rates on its certificate specials. These include a 4.25% APY for a 9-month...

5.51% 25-Month / 5.43% 13-Month CD at a Montana CU (Summit) - 11/12/2007

Summit Credit Union is offering certificate specials which include a 5.51% APY 25-month CD, a 5.43% APY 13-month CD and a 5.22% APY 48-month CD. The minimum deposit is $5,000. The credit union also has some high rates on its jumbo CDs which require a...

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

Summit Credit Union Savings Account Rates

Apy	Min	Max	Product
0.05%	$101	-	Regular Shares
0.05%	$101	-	Club Account
0.05%	$101	-	IRA Passbook Account
0.05%	$101	-	Roth IRA Passbook Account
0.05%	$101	-	CESA Passbook Account

Summit Credit Union Money Market Rates

	Apy	Min	Max	Product
	0.10%	$2k	-	Silver Money Market Checking

Summit Credit Union CD Rates

Apy	Min	Max	Product
1.10%	$500	-	60 Month Share Certificate
0.95%	$500	-	54 Month Share Certificate
0.80%	$500	-	48 Month Share Certificate
0.70%	$500	-	42 Month Share Certificate
0.55%	$500	-	36 Month Share Certificate
0.40%	$500	-	24 Month Share Certificate
0.20%	$500	-	12 Month Share Certificate
0.15%	$2,500	-	6 Month Share Certificate
0.15%	$2,500	-	9 Month Share Certificate
0.10%	$2,500	-	3 Month Share Certificate

Summit Credit Union IRA Rates

Apy	Min	Max	Product
1.10%	$500	-	60 Month IRA Share Certificate
1.10%	$500	-	60 Month Roth IRA Share Certificate
1.10%	$500	-	60 Month CESA Share Certificate
0.95%	$500	-	54 Month IRA Share Certificate
0.95%	$500	-	54 Month Roth IRA Share Certificate
0.95%	$500	-	54 Month CESA Share Certificate
0.80%	$500	-	48 Month IRA Share Certificate
0.80%	$500	-	48 Month Roth IRA Share Certificate
0.80%	$500	-	48 Month CESA Share Certificate
0.70%	$500	-	42 Month IRA Share Certificate
0.70%	$500	-	42 Month Roth IRA Share Certificate
0.70%	$500	-	42 Month CESA Share Certificate
0.55%	$500	-	36 Month IRA Share Certificate
0.55%	$500	-	36 Month Roth IRA Share Certificate
0.55%	$500	-	36 Month CESA Share Certificate
0.40%	$500	-	24 Month IRA Share Certificate
0.40%	$500	-	24 Month Roth IRA Share Certificate
0.40%	$500	-	24 Month CESA Share Certificate
0.20%	$500	-	12 Month IRA Share Certificate
0.20%	$500	-	12 Month Roth IRA Share Certificate
0.20%	$500	-	12 Month CESA Share Certificate
0.15%	$2,500	-	6 Month IRA Share Certificate
0.15%	$2,500	-	9 Month IRA Share Certificate
0.15%	$2,500	-	6 Month Roth IRA Share Certificate
0.15%	$2,500	-	9 Month Roth IRA Share Certificate
0.15%	$2,500	-	6 Month CESA Share Certificate
0.15%	$2,500	-	9 Month CESA Share Certificate
0.10%	$2,500	-	3 Month IRA Share Certificate
0.10%	$2,500	-	3 Month Roth IRA Share Certificate
0.10%	$2,500	-	3 Month CESA Share Certificate

Rates updated: 5/21/2013

Data for Q4 2012

Institution Statistics

SUMMIT
NCUA #	7182
BankRate Report	View
Year Chartered	1951
Employees	13
Primary Regulator
Assets and Liabilities
Assets	$39.74 million
Loans	$20.42 million
Deposits	$34.48 million
Equity Capital	$5.07 million
Loan Loss Allowance	$136,000
Unbacked Noncurrent Loans	$228,000
Real Estate Owned	$102,000
Historic Data - December 2011
Assets	$38.80 million
Equity Capital	$5.22 million
Loan Loss Allowance	$48,000
Unbacked Noncurrent Loans	$292,000
Real Estate Owned	$39,000
Profit Margin - Quarterly
Net Interest Margin	4.61%
Return on Assets	-0.36%
Return on Equity	-2.86%
Interest Income	$1.17 million
Non-Interest Income	$344,000

Institution Health

Overall Score:

5 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, 2012 Summit Credit Union had $330,000 in non-current loans and owned real-estate with $5.21 million in equity and loan loss allowances on hand to cover it. This gives Summit Credit Union a Texas Ratio of 6.34% 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 Credit Union held steady from 6.28% as of December 31, 2011 to 6.34% as of December 31, 2012, resulting in a negative change of 0.81%. This indicates that the balance sheet and financial strength for Summit Credit Union has held steady in recent periods.
Deposit Growth
In the past year, Summit Credit Union has increased its total deposits by $1.1 million, resulting in 3.29% 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 Credit Union has shown is above average.
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 Credit Union has $39.74 million in assets with $5.21 million in equity, resulting in a capitalization level of 13.11%, which is excellent.