Overview / Commentary
Summit Federal Credit Union is headquartered in Akron and is the 104th largest credit union in the state of Ohio. It is also the 2,300th largest credit union in the nation. It was established in 1951 and as of March of 2025, it had grown to 15 employees and 4,730 members at 2 locations. Summit Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Summit Federal Credit Union is open to employees or members of eligible companies and organizations, as well as their immediate family members. (A complete list of requirements and member groups are listed on the credit union's website)
See current membership details
Health
B+
Data as of Q1 2025
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Summit Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 7182 |
| Year Chartered | 1951 |
| Employees | 15 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.12% |
| Return on Equity - YTD | 7.49% |
| Annual Interest Income | $637K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $58.4MM$56.6MM |
| Loans | Q1 2025vs Q1 2024 | $32.2MM$32.7MM |
| Deposits | Q1 2025vs Q1 2024 | $49.7MM$48.5MM |
| Equity Capital | Q1 2025vs Q1 2024 | $8.5MM$7.7MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $187K$193K |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $138K$93K |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |