Summit Credit Union again held a novel annual membership meeting and family event called Summit Fest, welcoming 3505 members on Sunday, May 22. This is the largest attendance recorded for Summit’s annual member appreciation event. Members and their families took part in kids’ obstacle races, enjoyed yard games, and spent a fun time together eating a Wisconsin summer cookout.
“We grow when we add value to our members and this annual event is an opportunity to both celebrate our achievements and show our members how much we appreciate them,” said Summit Credit Union CEO & President Kim Sponem. “This year, we have seen a large growth in assets, the largest acquisition of a bank by a credit union in US history, and we are in the Top Workplaces for Madison, Milwaukee and the USA. There’s a lot for our employees and our members to celebrate.”
The celebration offered a short business meeting and family-friendly entertainment at the local baseball stadium, The Duck Pond, Mallard’s Stadium at Warner Park, Madison. Attractions at Summit Fest also included a diaper dash for toddlers, free mini cupcakes with the chance to win $10 to pay-it-forward, and the return of an employee-led cover band playing songs by an array of artists from The Blues Brothers to Taylor Swift to Queen.
Annual board meeting
During the board meeting, Summit Credit Union’s 2022 successes were noted and included the following:
- The acquisition of Commerce State Bank. This is the largest acquisition of a bank by a credit union in US history. With this acquisition we welcomed 71 employees, more than 5,700 new members and added four locations -- West Bend, Elm Grove, Sheboygan, and Cedarburg.
- Summit Credit Union saw a 29 percent growth in assets to more than $6.4 billion.
- More than 43,000 new loans were secured for cars, homes, vacations, and other members’ goals.
- Kiplinger and Investopedia reported Summit Credit Union’s 3-year certificate rate among the top in the nation.
- Summit Credit Union was named a Top Workplace in Madison, Milwaukee, and the USA.