The Summit Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.30% | 1-year CD | 1 Year Jumbo CD 1.50% - Ally Bank No Penalty 11-Month CD |
| 0.05% | Savings | Regular Savings 1.20% - Ally Bank Online Savings Account |
| 1.45% | 3-year CD | 36 Month CD 1.60% - Ally Bank High Yield 3 Year CD |
The Summit Federal Credit Union is headquartered in ROCHESTER and is the 22nd largest credit union in the state of New York. It is also the 322nd largest credit union in the nation. It was established in 1941 and as of June of 2017, it had grown to 212 employees and 83,306 members at 16 locations. The Summit Federal Credit Union's CD rates are 44% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in The Summit Federal Credit Union is open to those who live, work, worship, volunteer or attend school in the City of Buffalo, City of Geneva, City of Rochester, City of Syracuse, City of Tonawanda, Town of Amherst, Town of Henrietta, Town of Tonawanda, or Cortland County. Employees, retirees, or volunteers of a member company are also eligible to join, as are the relatives of existing Credit Union members.
See current membership details
Related Posts
Great neighborhood credit union!
When my husband and I were looking for a car loan for my son's car, we knew it was going to be hard because we were heading into the Thanksgiving weekend. Imagine our delight at finding that the Summit Credit Union was available to help. From the first moment we called them, we knew we had found a great match, and even better, the branch nearest us is in our neighborhood.
They managed to get all the paperwork done, and by the Monday after Thanksgiving, we were driving our son's first car home to hide in my parents' garage!
A year later, when my wife needed to trade her car in, it was a no-brainer for us to go back to the Summit Federal Credit Union.
Our branch has a great neighborhood vibe to it, from the friendly tellers to the loan staff. They will always be our go-to lender for auto loans!
Data as of Q2 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 4580 |
| Year Chartered | 1941 |
| Employees | 212 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.44% |
| Return on Equity - YTD | 4.88% |
| Annual Interest Income | $13.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $878.9MM$815.3MM |
| Loans | Q2 2017vs Q2 2016 | $787.7MM$702.4MM |
| Deposits | Q2 2017vs Q2 2016 | $782.7MM$723.5MM |
| Equity Capital | Q2 2017vs Q2 2016 | $77.6MM$74.2MM |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $2.3MM$2.0MM |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $2.5MM$2.5MM |
| Real Estate Owned | Q2 2017vs Q2 2016 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not The Summit Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
The Summit Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.40% | - | - | Coverdell IRA Savings | |
| 0.40% | - | - | Roth IRA Savings | |
| 0.40% | - | - | IRA Savings | |
| 0.05% | $100 | - | Primary Savings | |
| 0.05% | $100 | - | Safari Savings Club | |
| 0.05% | $100 | - | Forward Bound Savings Club | |
| 0.05% | $100 | - | Regular Savings | |
| 0.05% | $100 | - | Health Savings Account |
The Summit Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.55%* | $150k* | - | MoneyMax | ||
| OTHER TIERS: 0.40% → $25k - $75k | 0.50% → $75k - $150k | |||||
| 0.40%* | $50k* | - | Money Market | ||
| OTHER TIERS: 0.20% → $1,500 - $10k | 0.30% → $10k - $25k | 0.35% → $25k - $50k | |||||
The Summit Federal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05% | $1k | - | Premium Checking |
The Summit Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.00% | $500 | - | 4-10 Year CD | |
| 1.45% | $500 | - | 30 Month CD | |
| 1.45% | $500 | - | 36 Month CD | |
| 1.45% | $500 | - | 42 Month CD | |
| 1.30% | $500 | - | 18 Month CD | |
| 1.30% | $500 | - | 24 Month CD | |
| 1.30% | $75k | - | 1 Year Jumbo CD | |
| 1.05% | $500 | - | 1 Year CD | |
| 0.75% | $500 | - | 6 Month CD | |
| 0.50% | $75k | - | 30 Day Jumbo CD | |
| 0.45% | $500 | - | 90 Day CD |
The Summit Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.00% | $500 | - | 4-10 Year IRA | |
| 1.45% | $500 | - | 30 Month IRA | |
| 1.45% | $500 | - | 36 Month IRA | |
| 1.45% | $500 | - | 42 Month IRA | |
| 1.30% | $75k | - | 1 Year Jumbo IRA | |
| 1.30% | $500 | - | 18 Month IRA | |
| 1.30% | $500 | - | 24 Month IRA | |
| 1.05% | $500 | - | 1 Year IRA | |
| 0.75% | $500 | - | 6 Month IRA | |
| 0.50% | $75k | - | 30 Day Jumbo IRA | |
| 0.45% | $500 | - | 90 Day IRA |
