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Your Money Is Safe At Summit

Financial Safety and Security at Summit
When big banks shut down or require government intervention, people across the country naturally begin to think about the safety and security of their money and their financial institutions. You’ve heard us reference “the credit union difference” and this is a great opportunity to show you exactly what that difference means when compared to banks.  Summit’s top priority has always been the well being of our members. That priority factors into every decision we make from product development to investment options and it’s the reason Summit is such a good option for you, your family, and your business.  
Seven Reasons to Feel Good About Banking with Summit 
  • Federal Protection – Your deposits are federally insured by NCUA to at least $250,000 per individual with another $250,000 allowed for IRAs. You can secure coverage above $250,000 depending on your account ownership structure. to maximize your insurance coverage.  
  • Stable Investments and a Strong Financial Foundation – Unlike many big banks, Summit has low exposure to uninsured deposits or bond investments and keeps a conservative approach to investment management. View our Income and Financial Condition statements anytime in our .  
  • Access to Funds when Needed –Summit holds a significant amount of funds invested in low-risk assets, which are available for us to withdraw immediately if needed. We also have lines of credit available from several sources if we should ever need additional funds. 
  • 5-Star Rating – Summit consistently earns the superior 5-star rating from industry analyst,   
  • Strong Capital – The NCUA considers a credit union to be well capitalized with a net worth of at least 7% of assets. Summit’s net worth is well above this threshold. 
  • Positive Earnings – We are healthy because we consistently generate net income to build our capital. Summit Credit Union has been healthy even in times of economic stress such as 2008-2009 and 2020.
  • We’re Local: We serve local people and businesses right here in Wisconsin. 
If you have questions or concerns about the safety and security of your accounts, please give us a call. We’re happy to answer your questions and talk through any concerns. You can reach us at 800-236-5560. You might also be interested in Fraudsters are posing as the FBI or major companies to steal money—never send cash or wires to unknown callers... When you get an out-of-the-blue text, phone call or email, do you sometimes wonder if it’s really who it says it is? Hey, it’s smart to be cautious! Fraudsters... It’s that time of year again – tax time. And it’s also scammers’ favorite time to impersonate online tax services, the IRS and yes, even Summit, to try... Hosting dinner parties. Heading to your in-laws’. Hustling to order those perfect gifts. It’s the season for cheer and goodwill, and unfortunately also... Scammers are getting better and better at making fake links look legit. So before you click on that URL (the string of letters that makes up a web address)... Hey there, fellow fraud-fighters! Have five minutes to bust some common myths about scams? Because the more you know, the more you can stop fraudsters... For many, Social Security is a main source of income later in life, and no one wants to lose out on those funds or a perceived opportunity for more benefits... If there’s anything we know for sure about scammers, it’s that they’re going to take advantage of new technology. Artificial Intelligence (AI) is creating... With over 500 million daily active users, Instagram has become a popular app for sharing photos, connecting with friends and even following the lives of...