Summit Credit Union celebrating 10th Cash Boomerang
Summit giving back $2.66 million to members in 10th year of annual member giveback bringing total money provided to eligible members to $22.3 million.
MADISON, WI (November 8, 2023) — Summit Credit Union announced an annual patronage dividend, called Cash Boomerang, of $2.66 million to its members. The giveback is based on the cooperative’s financial success and on a member’s use of Summit’s checking, savings, borrowing services, as well as their length of membership.
The annual program will send a cash payout to 75,900 members. This is the 10th year of Cash Boomerang, which has paid out $22.6 million to Summit members in the last decade.
“The more business our members do with us, the better we do as their financial cooperative, and the more they’ll get back in a Cash Boomerang,” said Kim Sponem, CEO and President. “Cash Boomerang is one way we show our commitment to delivering significant savings and value to our members, along with education, tools, and guidance to reach their financial goals.”
Sponem shared that the timing of the payout, right before the holiday season, is intentional. “We hear from members that they like to do something fun with their Cash Boomerang since they weren’t expecting it, or that it gives them just enough cushion to relieve some stress at this time of year,” said Sponem. “We love to hear the stories from members of the unexpected boost right before the holidays. The delight that it brings members makes it a favorite time of year for our team, too.”
Members can redeem their cash payout via online or mobile banking, and deposit it into any Summit account they choose. Cash Boomerang payouts not claimed are deposited into members’ accounts in early December.
“As a financial cooperative, our success is our members’ success,” said Sponem. “This is a rewarding way to share it.” For more information about Cash Boomerang, visit www.SummitCreditUnion.com/cash-boomerang.
About Summit Credit Union (WI)
Established in 1935, Summit Credit Union is a member-owned financial cooperative. Summit holds $6.8 billion in assets and has more than 252,000 members and 967 employees across 57 locations throughout Wisconsin. Since 2002, Kim Sponem has been CEO & President of Summit Credit Union, formerly known as CUNA Credit Union/Great Wisconsin Credit Union.
Recognized for its excellence in employee engagement, in 2021, 2022 and 2023 Summit was named both a Top Workplace in the USA by Top Workplaces USA and a Top Workplace in the Madison area by the Wisconsin State Journal. In 2023 it has added a Top Workplace award in Milwaukee by the Milwaukee Journal Sentinel.
For more information, visit www.summitcreditunion.com or call 608-243-5000 or 800-236-5560.
For additional media information, visit https://www.summitcreditunion.com/about-summit/press-room or follow Summit on Facebook and Instagram.
