Photo by Richard Hurd
Summit Named One of America’s Top Credit Unions
Newsweek Magazine rankings based on member feedback and institution’s financial health
February 14, 2024 (Madison, WI) – 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.
About Summit Credit Union
Established in 1935, Summit Credit Union is a member-owned financial cooperative. Summit holds 6.9 billion in assets and has more than 255,500 members and 954 employees across 57 locations throughout Wisconsin. Since 2002, Kim Sponem has been CEO & President of Summit Credit Union, formerly known as CUNA Credit Union/Great Wisconsin Credit Union.
Recognized for its excellence in employee engagement, in 2021, 2022 and 2023 Summit was named both a Top Workplace in the USA by Top Workplaces USA and a Top Workplace in the Madison area by the Wisconsin State Journal. In 2023 it has added a Top Workplace award in Milwaukee by the Milwaukee Journal Sentinel.
For more information, visit www.summitcreditunion.com or call 608-243-5000 or 800-236-5560.