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Summit Credit Union Awards Local Student $2,500 In Project Teen Money

May 13, 2021 Madison high schoolers create videos, share financial tips with peers in annual interactive challenge MADISON, Wis.— Summit Credit Union has announced the winner of its Project Teen Money 2021 program, the annual financial education and scholarship challenge encouraging students to discover, develop and teach their peers healthy money management habits. Malik Terrab, a senior at Madison East, captured the support of his fellow classmates and community members by garnering 521 views and 645 votes across three video submissions and earning the competition’s highest point total. As the winner of the grand prize, Malik took home a $2,500 continuing education scholarship from Summit. “Congratulations to Malik and all our Project Teen Money participants for learning and helping others learn ways to give, spend and save wisely,” said Summit Credit Union CEO & President Kim Sponem. “It’s exciting to think about the impacts these young people are making in their own lives and the lives of their peers. They showed their classmates throughout the competition that money management can be fun and creative.” The program, which is one of many ways Summit champions financial education, featured eight students, two each from Madison’s East, West, La Follette and Memorial high schools, where Summit has branches to provide in-school financial education. The eight participants educated their peers about successful money management through a series of videos focused on skills like separating wants from needs, creating a savings plan and setting aside money for charitable causes. Starting in April, participants published three 30- to 90-second videos on Summit’s website while their families, classmates and other members of the community voted for their favorites. Submissions were awarded points on the basis of timeliness, accuracy, originality and creativity. After graduation, Malik hopes to attend college at Dartmouth and ultimately pursue a career as a filmmaker. “I learned so much in Project Teen Money, and I’m excited to put it to use as I go off to college,” said Malik. “This scholarship will make a big difference in my future, and I’m very thankful to Summit for the opportunity.” In addition to the $2,500 first place scholarship, Summit awarded each of the seven remaining Project Teen Money participants a $500 continuing education scholarship. To learn more about Summit’s annual Project Teen Money program, visit  . You might also be interested in MADISON, Wis. — Hannah Echols of Milwaukee, has just been revealed as the winner of Summit Credit Union’s Project Money Season 15. Along with three other contestant teams, Hannah spent the past seven months working with a Summit Credit Union financial advisor to take steps to meet her financial goals. MADISON, Wis – Jody Brown, a Financial Professional with Summit Financial Advisors, located at Summit Credit Union, has been named one of the “Women of Distinction” – a recognition that honors female financial representatives for superior performance and extraordinary efforts in promoting financial security. MADISON, Wis – The U.S. Small Business Administration (SBA) has named Summit Credit Union a 2023 leading small business lender in two different categories. Specifically, Summit received two awards for FY 2023; the most 7(a) loans by a credit union in Wisconsin and the greatest lender participation with 504 loans in Wisconsin. The credit union loaned more than $23,000,000 between these two SBA vehicles. Newsweek Magazine rankings based on member feedback and institution’s financial health MADISON, Wis – Newsweek Magazine’s 2024 list of America’s Best Regional Banks and Credit Unions included Madison-based Summit Credit Union as one of the top 250 credit unions. The rankings were based on a mix of consumer/member input and financial performance and stability factors. MADISON, Wis. – Summit Credit Union, a member owned financial cooperative, and StartingBlock, Madison’s startup hub, welcome seven women entrepreneurs into the 2023 cohort of the Summit Credit Union Fellowship for Women Entrepreneurs. This is an initiative designed to support, empower, and catalyze the growth of women entrepreneurs in the region. 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, Wisconsin — 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. MADISON, Wis -- Summit Credit Union has provided its full 2023 allotment of $700,000 in grants from the Federal Home Loan Bank of Chicago to eligible homebuyers, supporting their down payments, closing costs, or pre-paid expenses. MADISON, Wis. — Summit Credit Union, a member-owned financial cooperative, is the top mortgage lender in the state of Wisconsin this year, according to data collected under the Home Mortgage Disclosure Act (HMDA). Based on 2022 HMDA (Home Mortgage Disclosure Act) data, released at the end of June 2023, Summit provides more mortgages than any other mortgage lender in Wisconsin. Credit Union consumers took part in the Forbes and Statista survey and ranked credit unions on trust, terms & conditions, branch services, digital services, customer services and financial advice. 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The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 **  SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2023. Copyright 2024 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA