About Summit and Services | Summit Credit Union

About Us

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You can use our to see a list of hours by location.

We belong to the CO-OP shared branch network.

At a shared branch, you may deposit/withdraw from checking or savings accounts, as well as holiday, vacation, or money market accounts. You can also receive a cash advance from an existing credit card, or line of credit and make payments on consumer loans or lines of credit.

Shared branch transactions cannot be completed at Summit branches. Our members can use other CO-OP shared branch locations to process transactions on their Summit accounts.

While the FDIC is centered around Banks and Trusts, credit unions are insured by the (NCUA) instead. Both institutions insure accounts up to $250,000. The difference is that the NCUA covers regular shares and share draft accounts which are specific to credit unions and the $250,000 coverage limit applies to total deposits at a single institution.

Credit union members receive a number of benefits including:

Fewer fees
Lower loan rates
Higher rates of return on savings accounts
Personal attention
Free financial education
And more!

Yes! Credit Unions are fully-functional financial cooperatives and Summit Credit Union is no exception.

We offer substantial savings over other financial institutions. You could save hundreds – and perhaps thousands – of dollars each year by using credit union services rather than a for-profit commercial bank.

As a member-owned financial institution, we return operating profits to our members, so you can enjoy higher rates on savings, and lower rates on loans. Plus, as more members join and profits grow, resources and benefits for you and your money grow as well.

A credit union is a not-for-profit cooperative institution made up of members who borrow from pooled deposits. Credit unions offer most of the same services as traditional banks but are owned by members, and are regulated by the (NCUA).

We return operating profits to our members, so you can enjoy higher rates on savings and lower rates on loans. Plus, as more members join and profits grow, resources and benefits for you and your money grow as well.

Unlike banks, credit unions are not-for-profit organizations owned by the credit union members. Banks are for-profit institutions owned by shareholders. If you’re a credit union member, you’re a credit union owner. Every member, regardless of the amount in their account, can cast a vote to elect the credit union’s board members.

Credit unions serve communities, not corporate interests. That’s why we’re able to give our members higher rates on savings and lower rates on loans. Plus, as more members join and profits grow, resources and benefits for you and your money grow as well.

We’re Member-Owned! If you’re a credit union member, you’re a credit union owner. That means a share of its profits are returned to you. Banks on the other hand, are owned by the shareholders.

Because we return operating profits to our members, you can enjoy higher rates on savings and lower rates on loans. Plus, as more members join and profits grow, resources and benefits for you and your money grow as well.

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How to Become a Member

You must open a primary savings account to become a Summit member.

To become a member you can simply or . To apply we will need a legal form of identification, complete physical and mailing address, and social security number.

There is no fee to open the account, however you will need to make an initial deposit of at least $1.00 to your savings account. That $1.00 remains in the account as long as it is open and is not available for withdrawal.

While many credit unions are still exclusive to certain companies or localities, Summit was the first to be granted an open charter, allowing anyone to become a member.

To apply we will need a legal form of identification, complete physical and mailing address, and Social Security number. You may or visit one of our .

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Account Opening

Yes! If you are not a member, you can fill out and submit an to open your first account.

If you are already a member:

To open an additional savings and/or specific certificates through Digital Banking:
- Login
- Click or tap Open an Account from the main menu
To open a checking and/or money market: Please give us a call at (800) 236 - 5560. At this time, checking and money market accounts cannot be opened in Digital Banking.

Under the requirements of the Patriot Act, all banks must run an identity check on any new customer. They use "customer identification programs" (CIP) that compare your name, address, date of birth, and other facts to the information contained on your credit report.

The CIP regulations require institutions to implement reasonable procedures for:

Verifying the identity of any person seeking to open an account, to the extent reasonable and practicable
Maintaining records of the information used to verify the person’s identity, including name, address, and other identifying information.

Banks also review ChexSystems and sometimes credit report data during the process of determining whether a customer qualifies to open a new account. Under FCRA regulations, the bank has to have a permissible purpose such as "intend[ing] to use the information in connection with a credit transaction involving the consumer" in order to pull a credit report and must obtain the consumer’s consent first. A hard inquiry like this could cause a small credit score ding.

Yes! We offer the . This account is available to any members who are students. The account will remain a student checking for 6 years and then will automatically change to our regular free checking account.

With the Student Checking you get:

Free Debit Card
Free and Unlimited ATM use
No monthly service fee

To open a checking on an existing account, please or visit a branch location.

Yes. A parent or guardian must be joint on a minor account. The minor must have a tax ID number and at least one other form of identification:

State ID
Student ID
Passport
Social security card
Birth certificate

We also offer UTMA (custodial) accounts where the minor does not have access to do transactions.

Yes, the parent or guardian on the account can request a checking account or checking account with a debit card for a minor account. Both the minor and parent/guardian are eligible to receive debit cards in their name.

If the account is a UTMA account, the minor cannot process transactions on the account and would not be eligible for a debit card. The custodian could have a debit card.

If the account is not yet opened, you will need to to open a minor account.

Financial Resources

Shared branching is a cooperative effort between credit unions nationwide to assist each other’s members. As a result, Summit members can conduct most business on Summit Credit Union accounts at other credit unions throughout the country as though you were at your local branch!

You can get a free copy of your credit report annually by visiting .

Visit to get a free copy of your credit report once annually from Equifax, Experian, and TransUnion.
Note: This report does not include your credit score.

Summit offers free financial reviews for our members. We will review your entire financial situation and offer suggestions or assistance.

We also offer to make sure you maintain control over your finances over time.

Please today if you are interested in this service or you can online for any of our .

Yes! Download our to own your finances and work toward financial stability.

Tracking your income, expenses, and savings in an organized way can help you set financial goals, monitor spending habits, and make adjustments as needed. By using this worksheet, you can reduce unnecessary expenses and stay on top of your budget.

Visit our to explore more of our .

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Credit Score

When pulling your credit score, there are two types of inquiries that are recorded; hard inquiries (hard pulls) and soft inquiries (soft pulls):

Hard inquiries can lower your score by a few points or have a negligible effect on your scores. The damage from a single hard inquiry usually decreases or disappears even before the inquiry drops off from your credit reportsfor good. Hard inquiries usually stay on your credit report for about two years. Multiple hard inquiries due to multiple credit or loan applications make you a higher-risk customer to lenders as it indicates that you may be short on cash or in danger of racking up debt.
Soft inquiries usually occur when someone or a company check your credit as part of a background check. There is a possibility that the inquiry may or may not be recorded in your credit report, depending on the credit bureau. Usually, soft inquiries are only visible to you when viewing your credit reports.

The steps to build credit and improve your credit score may vary depending on your particular situation.

If you don't have a credit history, one of the options that Summit has if you are looking to build credit is a share secured loan or a credit builder loan. Please for more information or to start an application.

can also help you build your credit score and establish a credit history.

Note: Be sure to stay on top of your monthly loan or credit card payments as being late payments on loans and credit card payments will lower your credit score. The best way you can keep tabs on your accounts is with Online or Mobile Banking.

Additional Services

Unfortunately, Summit Credit Union does not exchange foreign currency to US dollars nor do we offer any type of foreign currency. We do allow our members to participate in foreign wire transfers.

If you have further questions, we’re here for you!

or call our .

Summit Credit Union does not offer money orders. Members are able to purchase Cashier’s Checks at any of our . The Cashier's Check fee is $3.

Yes! Coin-counting machines are available for all Summit members in the lobbies of all our full-service .

Yes, you can at any of our full service for our Medallion Signature Guarantee services. You must be a member of the credit union for at least 60 days to use this service and there is no charge. The value being guaranteed cannot exceed $250,000.

Please bring along a photo ID.

Yes! Simply stop by any of our with a photo ID for notary services--even if you're not a member! Our signature-verification services should satisfy most legal requirements but if you need a witness signature, we can provide one even if you don't bring a witness.

We sure do! See below for size and pricing information.

Safe Deposit Box 3x5: $35 per year
Safe Deposit Box 5x5: $45 per year
Safe Deposit Box 3x10: $50 per year
Safe Deposit Box 5x10: $75 per year
Safe Deposit Box 6x10: $75 per year
Safe Deposit Box 10x10: $100 per year

*All boxes are 23 inches in length. We offer safe deposit boxes at the majority of Summit Credit Union locations. Visit our page to find the nearest branch that offer safe boxes. Then to determine whether your local branch has a box available!

We absolutely will accept coin deposits! In fact, we have coin counting machines in the lobbies of all of our full service to accommodate our members. Note: You must be a member to utilize our coin counting machine services and this service is not available in our drive up lanes.

Security

You may have received a call from our fraud prevention center due to suspicious activity on your credit or debit card. If they suspect your card security has been breached, they may suspend the usage of your card until you validate the purchases in question.

Always remember to notify Summit Credit Union prior to traveling, including overseas so your card(s) can be approved for use in the area you wish to travel.

Please if you have received a call from our fraud prevention center and would like to confirm the activity on your credit or debit card.

Keeping your data safe and secure is one of our most important jobs. Here’s how Summit works hard every day to protect your personal information:

We meet or exceed all industry-recommended safety standards.
We take a layered approach that creates multiple levels of security and balances safety and usability.
We’re committed to continuous improvement and regularly evaluate and update our security requirements.
We stay on top of new technologies and recommendations, then investigate and thoroughly test those that seem like they could help us improve our security.

Please review our to help prevent your account from being compromised.

If you notice any suspicious activity on your account, please immediately!

Want to receive alerts of possible fraud?
Signing up for our Fraud Alerts program is easy. For more information, TEXT HELP to 32874, or visit our page.

Please Note: Standard message and data rates will apply.

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