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Summit Credit Union Transforms Annual Member Meeting Model

June 22, 2016 MADISON, Wis.— Summit Credit Union recently held its annual meeting and member celebration, aptly called Summit Fest, at Mallard’s Stadium in Warner Park. The event was attended by 2,900 members, and allowed the member-owned cooperative to showcase its principle of giving back in an innovative and refreshing way. The annual meeting wasn’t always so inclusive, previously taking place in offsite meeting facilities. But in 2013, in an effort to appeal to younger members, Summit conducted a member survey to gauge interest in a more interactive structure. Since then, the occasion has moved to spacious Warner Park to help ensure a wider member base from the Madison and Milwaukee areas can attend. Additionally, the experience focuses on family-centric activities for members to enjoy. As a result, attendance has increased by nearly 1,000 people year over year. “Taking our annual meeting out of a conference room setting and into the community is one way we show our members how much we appreciate them,” said Summit CEO/President Kim Sponem. “We’ve been thrilled at the overwhelming response to the evolved meeting structure. This year we had over a thousand RSVPs, just from members who’ve attended in the past and had a great time. That’s what it’s all about.” This year’s meeting was free for members and featured a picnic, games, gifts and activities including face painting, bingo, a petting zoo and kids’ obstacle courses. Summit also award three area students, Mary Clarie Mancl, Fiona McGilligan and Skyler Kane, with $1,500 Volunteer Board of Directors scholarships, as well as its $2,500 Mary Siedlecki grant to the Urban League of Greater Madison’s 21st Century Careers Program. This year’s winner of Summit’s $5,000 Faust Scholarship, Guadalupe Ibarra, was also honored. Summit believes that any institution willing to put resources behind similar events could achieve the same level of success. “An investment in your annual meeting can yield great results,” said Sponem. “This entire transition has really been a testament to us being a cooperative, not a for-profit financial; and at the end of the day, it’s all about the feeling our members have when they spend time with Summit Credit Union.” For more information about this year’s Summit Fest, . 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