Summit Credit Union ranks top ten nationally in financial returns of members
Financial cooperative also honored for outstanding member services, returns to the borrowers
MADISON, WI (August 11, 2020) — Summit Credit Union recently ranked among the nation’s best in three major member categories, including greatest returns of members. The rankings, which are released annually by credit union research company Callahan & Associates, measure the performance of hundreds of credit unions nationwide across a variety of metrics.
“We’re proud to be recognized nationally as one of the top credit unions in providing value to our members. Each day, we find impactful ways to empower financial freedom and help people achieve their goals and reach their dreams,” said Summit Credit Union CEO & President Kim Sponem. “Especially in these challenging times, having the right products and services along with our financial wellness programs gives our members the reassurance needed to stay on track to lead richer lives.”
Summit’s ranking for overall member returns placed it in the top 3% of 335 national credit unions in the $1-$10 billion peer group. Additionally, the report found that Summit ranked seventh in returns to the borrowers and eighth in member services usage nationally.
As a member-owned financial cooperative, Summit prides itself on offering greater profit-sharing bonuses to its members. Cash Boomerang,1 Summit’s patronage dividend program, distributed $2.4 million to members in 2019. More than $11.7 million in cash dividends have been given since the incentive program started in 2014.
Summit has also been the #1 Mortgage Lender in Dane County for the past ten years.2 To learn more about banking and borrowing at Summit, visit https://www.summitcreditunion.com/.
1 No minimum balances are required to be eligible for the program. Any fees/charges applied to an account will reduce the account balance and result in less dividends earned. A checking account must be open as of 9/30 of year of payment to be eligible for the program. Only members in good standing at the date of the payout will receive as long as the Cash Boomerang computes to $10 or more, with a maximum of $1,000. Cash Boomerang is not guaranteed. Cash Boomerang is a dividend and subject to tax reporting. 2 #1 mortgage lender based on number of mortgages recorded with Dane County register of deeds.
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.
