Summit Credit Union (WI) is headquartered in Cottage Grove and is the largest credit union in the state of Wisconsin. It is also the 50th largest credit union in the nation. It was established in 1935 and as of June of 2023, it had grown to 829 employees and 248,245 members at 57 locations. Summit Credit Union (WI) has an A 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
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.
Average Minus
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
Has anyone heard of another CU requiring a video interview as part of the membership sign-on as this CU required?
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 67190 |
| Year Chartered | 1935 |
| Employees | 829 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.84% |
| Return on Equity - YTD | 9.31% |
| Annual Interest Income | $132.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $6.56B$5.00B |
| Loans | Q2 2023vs Q2 2022 | $5.34B$3.92B |
| Deposits | Q2 2023vs Q2 2022 | $5.08B$4.00B |
| Equity Capital | Q2 2023vs Q2 2022 | $583.3MM$532.4MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$16.9MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $23.4MM$13.0MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
