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 106th largest credit union in the state of Ohio. It is also the 2,412th largest credit union in the nation. It was established in 1951 and as of December of 2020, it had grown to 14 employees and 4,894 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
Employees14
Primary Regulator
Profit Margin
Return on Assets - YTD0.34%
Return on Equity - YTD2.76%
Annual Interest Income$1.3MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$52.2MM$45.8MM
LoansQ4 2020vs Q4 2019$29.6MM$27.9MM
DepositsQ4 2020vs Q4 2019$45.7MM$39.5MM
Equity CapitalQ4 2020vs Q4 2019$6.3MM$6.1MM
Loan Loss AllowanceQ4 2020vs Q4 2019$211.00K$246.00K
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$20.00K$40.00K
Real Estate OwnedQ4 2020vs Q4 2019$0$0
Rates
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Summit Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$101-Regular Shares
0.05%$101-Club Account
0.05%$101-IRA Passbook Account

Summit Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$2k-Silver Money Market Checking

Summit Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$500-60 Month Share Certificate
0.45%$500-54 Month Share Certificate
0.40%$500-48 Month Share Certificate
0.35%$500-36 Month Share Certificate
0.35%$500-42 Month Share Certificate
0.30%$500-24 Month Share Certificate
0.25%$500-18 Month Share Certificate
0.20%$500-12 Month Share Certificate
0.15%$2.5k-6 Month Share Certificate
0.15%$2.5k-9 Month Share Certificate
0.10%$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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