2. The Summit Federal Credit Union

The Summit Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEHOW THEY COMPARE
2.75%1-year CD
1.30% - National Average
0.10%Savings
2.10% - American Express National Bank High Yield Savings AccountAdvertisement
2.80%3-year CD
1.82% - National Average
View all The Summit Federal Credit Union rates »

Overview / Commentary
www.summitfcu.org
585-453-7000
100 Marina Dr
Rochester, NY 14626-5104

The Summit Federal Credit Union is headquartered in ROCHESTER and is the 21st largest credit union in the state of New York. It is also the 344th largest credit union in the nation. It was established in 1941 and as of September of 2018, it had grown to 194 employees and 85,726 members at 16 locations. The Summit Federal Credit Union's CD rates are 3X 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

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Reviews (1)

Great neighborhood credit union!

Posted by: tmorrowny | Nov 12, 2014

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!

1


Health
A

Data as of Q3 2018

Learn why bank health matters

Health Grade Components

Overall
NCUA #4580
Year Chartered1941
Employees194
Primary Regulator
Profit Margin
Return on Assets - YTD0.56%
Return on Equity - YTD5.98%
Annual Interest Income$23.4MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$886.7MM$862.2MM
LoansQ3 2018vs Q3 2017$838.8MM$801.2MM
DepositsQ3 2018vs Q3 2017$780.2MM$762.3MM
Equity CapitalQ3 2018vs Q3 2017$83.3MM$78.6MM
Loan Loss AllowanceQ3 2018vs Q3 2017$2.5MM$2.6MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$3.3MM$2.7MM
Real Estate OwnedQ3 2018vs Q3 2017$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%--IRA Savings
0.10%$100-Primary Savings
0.10%$100-Safari Savings Club
0.10%$100-Forward Bound Savings Club
0.10%$100-Regular Savings
0.10%$100-Health Savings Account

The Summit Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%*$150k*-MoneyMax
OTHER TIERS: 0.90% → $1.5k - $75k | 1.00% → $75k - $150k
0.90%*$50k*-Money Market
OTHER TIERS: 0.60% → $1.5k - $10k | 0.70% → $10k - $25k | 0.80% → $25k - $50k

The Summit Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$1k-Premium Checking
0.10%$7.5k-Business Premium Checking

The Summit Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.05%$75k-30 Month Jumbo CD
3.05%$75k-36 Month Jumbo CD
3.05%$75k-42 Month Jumbo CD
3.00%$500-4-10 Year CD
3.00%$50-4-10 Year Youth CD
2.95%$75k-18 Month Jumbo CD
2.95%$75k-24 Month Jumbo CD
2.80%$500-30 Month CD
2.80%$500-36 Month CD
2.80%$500-42 Month CD
2.80%$50-30 Month Youth CD
2.80%$50-36 Month Youth CD
2.80%$50-42 Month Youth CD
2.75%$75k-12 Month Jumbo CD
2.70%$500-18 Month CD
2.70%$500-24 Month CD
2.70%$50-18 Month Youth CD
2.70%$50-24 Month Youth CD
2.50%$500-12 Month CD
2.50%$50-12 Month Youth CD
2.00%$75k-9 Month Jumbo CD
1.50%$75k-6 Month Jumbo CD
1.25%$500-6 Month CD
1.25%$75k-120 Day Jumbo CD
1.25%$50-6 Month Youth CD
1.00%$75k-90 Day Jumbo CD
0.95%$75k-60 Day Jumbo CD
0.90%$75k-30 Day Jumbo CD
0.75%$500-90 Day CD
0.75%$50-90 Day Youth CD

The Summit Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$500-4-10 Year IRA
2.80%$500-30 Month IRA
2.80%$500-36 Month IRA
2.80%$500-42 Month IRA
2.70%$500-18 Month IRA
2.70%$500-24 Month IRA
2.50%$500-12 Month IRA
1.25%$500-6 Month IRA
0.75%$500-90 Day IRA
Locations

Availability



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