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The Summit Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.30%1-year CD1 Year Jumbo CD
1.40% - Synchrony Bank 12 Month CDAdvertisement
0.05%SavingsRegular Savings
1.20% - Synchrony Bank High Yield SavingsAdvertisement
1.45%3-year CD36 Month CD
1.85% - Synchrony Bank 36 Month CDAdvertisement
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 23rd largest credit union in the state of New York. It is also the 327th largest credit union in the nation. It was established in 1941 and as of March of 2017, it had grown to 220 employees and 82,567 members at 17 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

The Summit FCU (NY) Raises Rate On 1-Year Jumbo CD - 8/26/2016

The Summit FCU (western NY state) has raised the rate on its 1-year Jumbo Share Certificate (1.40% APY). Minimum deposit is $75k, with no balance cap.

View all posts from:


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 Q1 2017

Learn why bank health matters

Health Grade Components

Overall
NCUA #4580
Year Chartered1941
Employees220
Primary Regulator
Profit Margin
Return on Assets - YTD0.43%
Return on Equity - YTD4.77%
Annual Interest Income$6.8MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$859.5MM$795.1MM
LoansQ1 2017vs Q1 2016$771.4MM$688.4MM
DepositsQ1 2017vs Q1 2016$765.5MM$703.9MM
Equity CapitalQ1 2017vs Q1 2016$76.6MM$73.5MM
Loan Loss AllowanceQ1 2017vs Q1 2016$2.3MM$1.9MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$2.2MM$1.8MM
Real Estate OwnedQ1 2017vs Q1 2016$0$0
Rates
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* 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%--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

APYMINMAXACCOUNT NAMEVIEW 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$1k-Premium Checking

The Summit Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%$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%$75k-1 Year Jumbo CD
1.25%$500-18 Month CD
1.25%$500-24 Month 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%$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
1.25%$500-18 Month IRA
1.25%$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
Locations

The Summit Federal Credit Union has 17 locations. Click to view all The Summit Federal Credit Union locations.