Summit Federal Credit Union


Overview / Commentary
330-376-3626
100 Wheeler St
Akron, OH 44311

Summit Federal Credit Union is headquartered in Akron and is the 104th largest credit union in the state of Ohio. It is also the 2,407th largest credit union in the nation. It was established in 1951 and as of June of 2020, it had grown to 13 employees and 4,929 members at 2 locations. Summit Federal Credit Union has an A 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)
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Health
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 relatively low asset base.

Health Grade Components

Overall
NCUA #7182
Year Chartered1951
Employees13
Primary Regulator
Profit Margin
Return on Assets - YTD0.37%
Return on Equity - YTD2.91%
Annual Interest Income$690.00K
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$50.3MM$47.0MM
LoansQ2 2020vs Q2 2019$26.9MM$27.8MM
DepositsQ2 2020vs Q2 2019$43.9MM$40.8MM
Equity CapitalQ2 2020vs Q2 2019$6.2MM$5.9MM
Loan Loss AllowanceQ2 2020vs Q2 2019$215.00K$247.00K
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$18.00K$43.00K
Real Estate OwnedQ2 2020vs Q2 2019$0$0
Rates
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Summit Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$101-Regular Shares
0.10%$101-Club Account
0.10%$101-IRA Passbook Account

Summit Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$2k-Silver Money Market Checking

Summit Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$500-60 Month Share Certificate
0.55%$500-54 Month Share Certificate
0.50%$500-48 Month Share Certificate
0.45%$500-36 Month Share Certificate
0.45%$500-42 Month Share Certificate
0.40%$500-24 Month Share Certificate
0.35%$500-18 Month Share Certificate
0.30%$500-12 Month Share Certificate
0.20%$2.5k-6 Month Share Certificate
0.20%$2.5k-9 Month Share Certificate
0.15%$2.5k-3 Month Share Certificate
Locations


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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