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Summit Credit Union Provides $700,000 In 2023 Federal Home Loan Bank Grants To Eligible Homebuyers 

August 24, 2023 Qualified homebuyers received up to $10,000 in FHLB (Chicago) grants through Summit toward their down payment, closing costs, or pre-paid expenses. 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.  Each year the Federal Home Loan Bank of Chicago, a cooperative institution, provides Summit Credit Union, and other participating financials, grant money to qualifying homebuyers. When purchasing a property, consumers qualify if their annual income is less than or equal to 80 percent of the Housing and Urban Development (HUD) area’s median income. This varies across the state.   “We love to help people find a way to buy their own home, so we’re excited to have provided all the grant money allotted to us,” said Kristin Nesbitt, Summit Credit Union’s Vice President of Mortgage Lending. “Our Mortgage Loan Officers, Processors and Underwriters are all focused on identifying opportunities like this for our members.”  “We prioritize distributing these funds to help more people on their path to homeownership,” said Summit Credit Union CEO and President, Kim Sponem.  “This is the power of cooperatives working together for our members and it’s just one of many lending tools we use to help members achieve their financial goals.” 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