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Summit Named One of America's Top Credit Unions

February 14, 2024
Newsweek Magazine rankings based on member feedback and institution’s financial healthMADISON, 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.“We’re honored to be included among Newsweek’s top credit unions, not only because it is based in part on reviews by our own members, but also because our financial strength and stability was part of the award criteria,” said Kim Sponem, CEO & President of Summit Credit Union. “Newsweek’s team looked at factors such as our financial reserves and ability to absorb economic downturns, strong lending activity, and reputation in making this group of America’s best credit unions.”Newsweek partnered with research company Plant A Insights Group to compile the list based on an analysis of the financial health and stability of 9,440 institutions, 35,000 customer interviews and more than 149 million online reviews and applied a rigorous methodology to their selection process.“As financial cooperatives owned by their members, [credit unions] foster a sense of shared ownership and responsibility. This unique structure translates into a commitment to the financial well-being of its members, often resulting in lower fees, competitive interest rates, and a more flexible approach to lending,” said Nancy Cooper, Newsweek’s global editor-in-chief. You might also be interested in Summit Credit Union named Top Workplace in Madison, Milwaukee, and U.S., recognized for strong culture, engagement, and employee benefits... Summit Credit Union helps Wisconsin families achieve homeownership with up to $10K in down payment assistance... Summit Credit Union’s President and CEO Kim Sponem was recently featured on the Women of Community Banking podcast... Summit welcomed thousands of members and their families to Warner Park for its annual Summit Fest, blending its official Annual Meeting of the Membership... Summit Credit Union names Mike McCoy Chief Commercial Officer to advance commercial banking and support Wisconsin businesses... With $87 million in member benefits, Summit Credit Union remains the nation’s #1 credit union for Return of the Member... Summit Credit Union partners with LOVB Madison Volleyball to empower women athletes and advance equity in sports and finance... Kim Sponem calls for equitable pay practices, warning that lifetime pay gaps leave women at greater risk of retirement insecurity... Summit Credit Union earns the #1 national Return of the Member ranking again, highlighting its strong member value and financial impact...