The Summit Federal Credit Union is headquartered in ROCHESTER and is the 20th largest credit union in the state of New York. It is also the 353rd largest credit union in the nation. It was established in 1941 and as of June of 2023, it had grown to 247 employees and 92,116 members at 14 locations. The Summit Federal Credit Union's CD rates are 5X the national average, and it has a B+ 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
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 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 4580 |
| Year Chartered | 1941 |
| Employees | 247 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.62% |
| Return on Equity - YTD | 6.8% |
| Annual Interest Income | $23.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.30B$1.26B |
| Loans | Q2 2023vs Q2 2022 | $1.09B$1.03B |
| Deposits | Q2 2023vs Q2 2022 | $1.13B$1.10B |
| Equity Capital | Q2 2023vs Q2 2022 | $119.3MM$107.4MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$3.9MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $3.2MM$3.0MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
