Summit Federal Credit Union
LOCATIONS
2
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HEALTH RATING
B+
View health report
CURRENT TOP RATE
2.00% APY
60 Month Share Certificate
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Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.35% | 5-year CD | 54 Month Share Certificate 2.85% - Barclays 60 Month Online CD |
| 0.45% | 1-year CD | 12 Month Share Certificate |
| 0.05% | Savings | Regular Shares |
Overview / Commentary
Summit Federal Credit Union is headquartered in Akron and is the 99th largest credit union in the state of Ohio. It is also the 2,367th largest credit union in the nation. It was established in 1951 and as of March of 2018, it had grown to 14 employees and 5,054 members at 2 locations. Summit Federal Credit Union 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.
See current membership details
Related Posts
Health
B+
Data as of Q1 2018
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 low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 7182 |
| Year Chartered | 1951 |
| Employees | 14 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.88% |
| Return on Equity - YTD | 7.52% |
| Annual Interest Income | $331.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2018vs Q1 2017 | $48.9MM$46.7MM |
| Loans | Q1 2018vs Q1 2017 | $26.9MM$24.6MM |
| Deposits | Q1 2018vs Q1 2017 | $43.1MM$41.1MM |
| Equity Capital | Q1 2018vs Q1 2017 | $5.6MM$5.4MM |
| Loan Loss Allowance | Q1 2018vs Q1 2017 | $162.00K$154.00K |
| Unbacked Noncurrent Loans | Q1 2018vs Q1 2017 | $176.00K$88.00K |
| Real Estate Owned | Q1 2018vs Q1 2017 | $0$0 |
Rates
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Summit Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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 | - | Education IRA |
Summit Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.10% | $2k | - | Silver Money Market Checking |
Summit Federal Credit Union CD Rates
Summit Federal Credit Union IRA Rates
Locations
| Summit Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 100 Wheeler St | Akron, OH 44311-1122 |
| Branch Office | 1446 State Route 344 | Salem, OH 44460-3838 |