Summit Credit Union (WI)


Overview / Commentary
608-245-5000
1709 Landmark Dr
Cottage Grove, WI 53527

Summit Credit Union (WI) is headquartered in Cottage Grove and is the largest credit union in the state of Wisconsin. It is also the 48th largest credit union in the nation. It was established in 1935 and as of March of 2024, it had grown to 847 employees and 260,072 members at 60 locations. Summit Credit Union (WI)'s money market rates are 7X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Summit Credit Union is open to all U.S. citizens and resident aliens.
See current membership details

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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

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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.

Average Minus

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Explored opening a cd account. Plus: One CSR I spoke with, a senior rep I believe, was knowledgeable and helpful. Minus: However, hard to reach her, and average frontline reps less than knowledgeable on some basic questions about beneficiaries, POD accounts, etc. Also, for out of staters, one runs into a cumbersome process of setting up a video interview and other verification procedures. (You're lending them money, not the other way around. Why the suspicious stance?) Lastly, as I noted in a forum post, you can't access their site to open an account unless you disable the 'do not track' cookies feature on your anti-virus program. I find it disturbing that, de facto, their ability to track your online behavior (and do *what* with it?) is a required feature of the account.

Video Interview

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Has anyone heard of another CU requiring a video interview as part of the membership sign-on as this CU required?

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Health
B+

Health Grade Components

Overall
NCUA #67190
Year Chartered1935
Employees847
Primary Regulator
Profit Margin
Return on Assets - YTD0.36%
Return on Equity - YTD4.11%
Annual Interest Income$86.1MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$7.24B$6.37B
LoansQ1 2024vs Q1 2023$5.62B$5.1B
DepositsQ1 2024vs Q1 2023$5.73B$4.91B
Equity CapitalQ1 2024vs Q1 2023$618.7MM$576.3MM
Loan Loss AllowanceQ1 2024vs Q1 2023$29.1MM$15.7MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$38.9MM$17.8MM
Real Estate OwnedQ1 2024vs Q1 2023$648K$721K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Summit Credit Union (WI); we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Summit Credit Union (WI) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$25-IRA Savings
0.10%$25-Primary Savings
0.10%$25-Secondary Savings
0.10%$25-Holiday Savings
0.10%*$25*$1kGoSave Account
OTHER TIERS: 0.08% $10k+ | 0.09% $1k - $10k
0.10%*$10k*-Health Savings Account
OTHER TIERS: 0.06% $0 - $2.5k | 0.07% $2.5k - $5k | 0.09% $5k - $10k

Summit Credit Union (WI) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.10%*$1m*-Money Market Maximizer
OTHER TIERS: 1.30% $75k - $150k | 1.70% $150k - $250k | 2.60% $250k - $500k | 2.85% $500k - $1m
1.44%*$200k*-Ultimate Money Market
OTHER TIERS: 0.35% $50k - $75k | 1.24% $75k - $100k | 1.34% $100k - $200k
0.23%*$100k*-Money Market Plus Account Rates
OTHER TIERS: 0.12% $0 - $2.5k | 0.14% $2.5k - $10k | 0.17% $10k - $25k | 0.18% $25k - $50k | 0.20% $50k - $100k

Summit Credit Union (WI) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$2.5k-Business Dividend Checking
0.10%$2.5k-Ultimate Checking
0.05%$25-Dividend Checking

Summit Credit Union (WI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.10%$5k-13 Month CD Special
5.10%$5k-7 Month CD Special
4.00%$500-36 Month CD
4.00%$500-48 Month CD
4.00%$500-60 Month CD
2.00%$500-12 Month CD
2.00%$500-18 Month CD
2.00%$500-24 Month CD
1.50%$500-9 Month CD
1.50%$250-24 Month Plus CD
1.25%$500-6 Month CD
0.90%$250-12 Month Plus CD
0.90%$250-18 Month Plus CD
0.60%$500-3 Month CD
0.50%$250-6 Month Plus CD

Summit Credit Union (WI) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.10%$5k-13 Month IRA Special
5.10%$5k-7 Month IRA Special
4.00%$500-36 Month IRA
4.00%$500-48 Month IRA
4.00%$500-60 Month IRA
2.00%$500-12 Month IRA
2.00%$500-18 Month IRA
2.00%$500-24 Month IRA
1.50%$500-9 Month IRA
1.50%$250-24 Month Plus IRA
1.25%$500-6 Month IRA
0.90%$250-12 Month Plus IRA
0.90%$250-18 Month Plus IRA
0.60%$500-3 Month IRA
0.50%$250-6 Month Plus IRA
Locations

Availability



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