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Summit Credit Union Shares Success With Multi-million Dollar Patronage Dividend

November 15, 2018 Cash Boomerang highlights benefits of banking at credit unionMADISON, Wis.— Summit Credit Union has announced a $2.3 million patronage dividend as part of its Cash Boomerang program, which awards an annual cash dividend to customers of the credit union. The amount received by each customer was determined by the financial success of Summit Credit Union, along with the individual’s saving and borrowing activity between Oct. 1, 2017, and Sept. 30, 2018. More than 55,000 Summit members recently received announcements detailing the amount of their 2018 cash payout. With this year’s payout, Summit has paid out more than $9 million in payouts since the incentive program began five years ago. In 2017, the payout was $2.08 million.“We had another successful year in 2018, largely due to the loyalty of the people who use us for their banking needs,” said Summit Credit Union CEO & President Kim Sponem. “One of the great things about being a financial cooperative is that when we succeed, our members succeed, and we’re proud to reward them this year through Cash Boomerang.”The Madison-based credit union prioritizes giving back to its members and has been the number one mortgage lender in Dane County for the past eight years. Earlier this year, Summit was again ranked among the highest in the nation for financial returns of members.With 36 locations across the greater Madison and Milwaukee areas, Summit is set to open a new 152,000-square-foot headquarters in Cottage Grove. For more information about Cash Boomerang, visit . 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