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The Summit Federal Credit Union


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 333rd largest credit union in the nation. It was established in 1941 and as of December of 2019, it had grown to 208 employees and 88,128 members at 16 locations. The Summit Federal Credit Union's money market rates are 36% 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

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Reviews (1)

Great neighborhood credit union!

Posted by: |

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 Q4 2019

Learn why bank health matters

Health Grade Components

Overall
NCUA #4580
Year Chartered1941
Employees208
Primary Regulator
Profit Margin
Return on Assets - YTD0.67%
Return on Equity - YTD7.46%
Annual Interest Income$36.5MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.00B$901.9MM
LoansQ4 2019vs Q4 2018$891.3MM$852.4MM
DepositsQ4 2019vs Q4 2018$897.4MM$796.0MM
Equity CapitalQ4 2019vs Q4 2018$88.7MM$84.3MM
Loan Loss AllowanceQ4 2019vs Q4 2018$2.6MM$2.7MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$3.5MM$3.3MM
Real Estate OwnedQ4 2019vs Q4 2018$120.00K$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
0.40%--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
0.05%$100-Saver’s 1000 Savings
0.05%$100-Start Smart
0.05%$100-Holiday Club Savings
0.05%$100-Vacation Club Savings
0.05%$100-Club Savings

The Summit Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$150k*-MoneyMax
OTHER TIERS: 0.40% → $1.5k - $75k | 0.50% → $75k - $150k
0.40%*$50k*-Money Market
OTHER TIERS: 0.15% → $1.5k - $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k

The Summit Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$1k-Premium Checking
0.05%$7.5k-Business Premium Checking

The Summit Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%$75k-18 Month Jumbo CD
1.15%$75k-24 Month Jumbo CD
1.15%$75k-30 Month Jumbo CD
1.15%$75k-36 Month Jumbo CD
1.15%$75k-42 Month Jumbo CD
1.10%$500-4-10 Year CD
1.10%$50-4-10 Year Youth CD
1.00%$75k-12 Month Jumbo CD
0.95%$75k-9 Month Jumbo CD
0.90%$500-18 Month CD
0.90%$500-24 Month CD
0.90%$500-30 Month CD
0.90%$500-36 Month CD
0.90%$500-42 Month CD
0.90%$50-18 Month Youth CD
0.90%$50-24 Month Youth CD
0.90%$50-30 Month Youth CD
0.90%$50-36 Month Youth CD
0.90%$50-42 Month Youth CD
0.75%$500-12 Month CD
0.75%$50-12 Month Youth CD
0.70%$75k-6 Month Jumbo CD
0.65%$75k-120 Day Jumbo CD
0.55%$75k-90 Day Jumbo CD
0.50%$75k-60 Day Jumbo CD
0.45%$500-6 Month CD
0.45%$75k-30 Day Jumbo CD
0.45%$50-6 Month Youth CD
0.30%$500-90 Day CD
0.30%$50-90 Day Youth CD

The Summit Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%$500-4-10 Year IRA
0.90%$500-18 Month IRA
0.90%$500-24 Month IRA
0.90%$500-30 Month IRA
0.90%$500-36 Month IRA
0.90%$500-42 Month IRA
0.75%$500-12 Month IRA
0.45%$500-6 Month IRA
0.30%$500-90 Day IRA
Locations

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