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Summit Credit Union Celebrating 10th Cash Boomerang

November 8, 2023 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. 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. You might also be interested in 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... Madison, Wisc. – Summit Credit Union, a member-owned financial cooperative, announced today that it is recognized, for the second consecutive year, as... SCOTTSDALE, Ariz., Dec. 31, 2024 /PRNewswire/ -- , a leading management and technology consultancy for banks, credit unions and fintech firms, has announced... Madison, Wisc. - StartingBlock Madison, the city's premier hub for startups and innovation, is proud to announce a continuing partnership with Summit Credit... Madison, Wisc. – Summit Credit Union, a member-owned financial cooperative, hosted its annual ShredFest on September 28. Held in partnership with the Better... 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... Madison, Wisc. – Summit Credit Union, a member-owned financial cooperative, is again the top mortgage lender in the state of Wisconsin, according to data... MADISON, WIS. — May 28, 2024 – Since its announcement in 2020, The Center for Black Excellence and Culture (The Center) has encouraged Madison’s Black... 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 LEI: 254900NTAC4H10MGSU23 ** SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2024. Copyright 2025 © 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