Summit & South Madison
Diversity, Equity and Inclusion for a Thriving Madison
Madison, like any city, can only prosper when all are welcome, included and have opportunities. We believe that Diversity is Our Strength, and when we enrich the diversity of our communities, everyone benefits. Summit’s focus on Equity in Money is about ensuring financial security for everyone in our community and that starts right here in our own back yard.
We have been involved in Madison’s southside since 2005. Our first partnership was with the South Madison Neighborhood Center led by David Smith. Together, we created a financial mentorship program with one-on-one coaching. The Center was later turned into the Boys and Girls Club where we started and funded STAR Credit Union. STAR was the first student-run credit union in the U.S and provided Boys and Girls Club youth the opportunity to learn about the importance of saving and the operations of the credit union. Our involvement in the area has grown over the years, including investments in Madison College’s Goodman South campus, which is currently thriving with more than 2,000 students.
Summit’s Part in the Revitalization of South Madison
Working with the community to make Madison's southside a powerhouse of innovation, community, and learning
Urban League
In April 2022, our CEO and President, Kim Sponem announced Summit will open a full-service branch in the Black Business Hub to support the Urban League of Greater Madison’s innovative plan to increase opportunities for entrepreneurs of color. The Hub is opening in the fall of 2023 and will be located on Park and Hughes Streets in South Madison.
“We are excited to place a Summit branch in the Hub
as part of our commitment to economic development by leveraging
our many financial wellness programs and products
to assist businesses, entrepreneurs and families
with their financial needs and with making good financial decisions,”
– Kim Sponem, CEO and President of Summit Credit Union.
Center for Black Excellence
In December 2021, we announced our historic gift of $2 million to jump-start corporate giving for the $38 million Center for Black Excellence and Culture to be built on Badger Road. The Center is a Black-led, Black-inspired and Black-designed space slated to open in 2023. It aims to create a place that uplifts the Black Community and Black-owned businesses, especially those run by women.
We thank the center’s founder Dr. Alex Gee for inviting us to the table around this opportunity to support the center’s unique blend of building black wealth in its planned incubator and co-working spaces, its art events and community services spaces.
Centro Hispano
Centro Hispano prepares Latinx youth, families and community to succeed in life. As part of the center’s Caminos Finance program, an employment training initiative focused on the financial sector, Summit has provided employment advice including resume writing and job interview techniques. This has led to many Caminos program members being employed by Summit as tellers, bi-lingual contact center representatives and universal bankers.
Summit also helps women learn how to improve their financial skills through Centro Hispano’s Latina Savings Project, a step-by-step emergency savings and education program. This helps participants understand their finances and develop healthy saving habits including opening a savings account. Summit matches the amount of money the women save during the program.
McKenzie Regional Workforce Center
In 2023, Summit pledged support to the Boys and Girls Club of Dane County’s (BGCDC) visionary McKenzie Regional Workforce Center. The center is an extension of the BGCDC, designed to inspire and empower young people – especially those in need – to reach their full potential. The center offers a skilled trades training program to give students support in pursuing careers in plumbing, carpentry, HVAC, electrical, and more.
One City Schools
In April 2022, we pledged a donation and partnership to One City Schools. Their ambitious goal is to reduce the racial achievement gap and ensure a solid foundation for our Madison area youth through a community-focused approach. Our CEO and president, Kim Sponem, participated in this video promoting our support for One City Schools’ efforts to enrich young lives. We provide financial literacy classes helping students understand the power of building savings for the future. Learning fundamental skills at a young age can help build solid habits leading to good financial decision-making in adulthood.
For a more in-depth look at these organizations and other transformation in the works for positive change in South Madison, check out this story from the Wisconsin State Journal!