Summit Federal Credit Union

Popular Accounts at this Credit Union

2.15%5-year CD54 Month Share Certificate
1.25%1-year CD12 Month Share Certificate
0.05%SavingsRegular Shares

Overview / Commentary
100 Wheeler St
Akron, OH 44311-1122

Summit Federal Credit Union is headquartered in Akron and is the 99th largest credit union in the state of Ohio. It is also the 2,369th largest credit union in the nation. It was established in 1951 and as of June of 2018, it had grown to 14 employees and 5,057 members at 2 locations. Summit Federal Credit Union's CD rates are 39% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership at Summit Federal is open to any employees or members of eligible companies and organizations, as well as their immediate family members.
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Additional 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 low asset base.

Health Grade Components

NCUA #7182
Year Chartered1951
Primary Regulator
Profit Margin
Return on Assets - YTD0.66%
Return on Equity - YTD5.62%
Annual Interest Income$675.00K
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$48.8MM$47.3MM
LoansQ2 2018vs Q2 2017$26.9MM$24.5MM
DepositsQ2 2018vs Q2 2017$42.9MM$41.7MM
Equity CapitalQ2 2018vs Q2 2017$5.7MM$5.4MM
Loan Loss AllowanceQ2 2018vs Q2 2017$160.00K$153.00K
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$248.00K$123.00K
Real Estate OwnedQ2 2018vs Q2 2017$0$0
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Summit Federal Credit Union Savings Account Rates

0.05%$101-Regular Shares
0.05%$101-Club Account
0.05%$101-IRA Passbook Account

Summit Federal Credit Union Money Market Rates

0.30%$2k-Silver Money Market Checking

Summit Federal Credit Union CD Rates

2.30%$500-60 Month Share Certificate
2.15%$500-54 Month Share Certificate
2.00%$500-48 Month Share Certificate
1.85%$500-42 Month Share Certificate
1.75%$500-36 Month Share Certificate
1.50%$500-24 Month Share Certificate
1.25%$500-12 Month Share Certificate
0.90%$2.5k-9 Month Share Certificate
0.75%$2.5k-6 Month Share Certificate
0.45%$2.5k-3 Month Share Certificate

Summit Federal Credit Union IRA Rates

2.30%$500-60 Month IRA Share Certificate
2.15%$500-54 Month IRA Share Certificate
2.00%$500-48 Month IRA Share Certificate
1.85%$500-42 Month IRA Share Certificate
1.75%$500-36 Month IRA Share Certificate
1.50%$500-24 Month IRA Share Certificate
1.25%$500-12 Month IRA Share Certificate
0.90%$2.5k-9 Month IRA Share Certificate
0.75%$2.5k-6 Month IRA Share Certificate
0.45%$2.5k-3 Month IRA Share Certificate

Summit Federal Credit Union Locations
Branch Office100 Wheeler StAkron, OH 44311-1122
Branch Office1070 E State St Ste CSalem, OH 44460-2200

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