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Summit Credit Union Awards Local Student $2,500 In Project Teen Money
May 13, 2021
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Press Room
Madison high schoolers create videos, share financial tips with peers in annual interactive challengeMADISON, 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
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COTTAGE GROVE, WI – Summit Credit Union, headquartered in the Village of Cottage Grove, has pledged a $100,000 grant to “The Next Chapter” Library Capital...
Summit Credit Union Named to Newsweek’s America’s Best Regional Banks and Credit Unions 2025
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Madison, Wisc. – Summit Credit Union, a member-owned financial cooperative, announced today that it is recognized, for the second consecutive year, as...
Summit and Kim Sponem Included in Cornerstone's 2024 GonzoBanker Award Winners
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SCOTTSDALE, Ariz., Dec. 31, 2024 /PRNewswire/ -- , a leading management and technology consultancy for banks, credit unions and fintech firms, has announced...
Summit Credit Union 2024 Fellowship for Women Entrepreneurs
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Madison, Wisc. - StartingBlock Madison, the city's premier hub for startups and innovation, is proud to announce a continuing partnership with Summit Credit...
More than 8 Tons Shredded at Summit Credit Union’s ShredFest
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Madison, Wisc. – Summit Credit Union, a member-owned financial cooperative, hosted its annual ShredFest on September 28. Held in partnership with the Better...
Summit Credit Union Awarded on the Forbes America’s Best-in-State Credit Unions 2024
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Madison, Wisc. – Summit Credit Union, a member-owned financial cooperative, has been awarded on the Forbes list of America’s Best-In-State Credit Unions...
Summit Credit Union Remains Wisconsin’s #1 Mortgage Lender
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Madison, Wisc. – Summit Credit Union, a member-owned financial cooperative, is again the top mortgage lender in the state of Wisconsin, according to data...
The Center for Black Excellence and Culture to Hold Groundbreaking Ceremony on June 19
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MADISON, WIS. — May 28, 2024 – Since its announcement in 2020, The Center for Black Excellence and Culture (The Center) has encouraged Madison’s Black...
Summit Credit Union Names Season 15 Project Money Winner
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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...
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* The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2023, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the