Sep, 30, 2025 — THE SUMMIT FEDERAL CREDIT UNION is a federal credit union headquartered in ROCHESTER, NY with 15 branch locations and about $1.41 billion in total assets. Opened 85 years ago in 1941, THE SUMMIT FEDERAL CREDIT UNION has about 106,075 members and employs 261 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE SUMMIT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 100 MARINA DR ROCHESTER, NY 14626-5104 |
| Phone: | (585) 453-7000 |
| Fax: | (585) 453-7039 |
| Website: | https://www.summitfcu.org |
| Branches: | 15 branch locations |
| Members: | 106,075 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4580 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,414,495,940 |
| CEO/Manager: | Laurie Baker |
| Chairperson: | CHRISTIAN MODESTI |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 113,711,273 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 342,403,024 |
| Unsecured Loans | 43,969,457 |
| Other Loans | 762,429,134 |
| TOTAL LOANS | 1,148,801,616 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,814,245 |
| Land And Building | 12,601,391 |
| Other Fixed Assets | 791,693 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 11,249,480 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,414,495,940 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 13,358,221 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 186,892,979 |
| Regular shares | 188,486,111 |
| All Other Shares & Deposits | 867,567,137 |
| TOTAL SHARES & DEPOSITS | 1,242,946,226 |
| TOTAL LIABILITIES | 1,256,311,721 |
| Regular Reserve | 0 |
| Other Reserves | 19,806,064 |
| Undivided Earnings | 138,378,155 |
| TOTAL EQUITY | 158,184,219 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,414,495,940 |
| INCOME & EXPENSE | |
| Loan Income | 45,872,677 |
| Investment Income | 6,549,413 |
| Other Income | 3,975,208 |
| Total Employee Compensation & Benefits | 16,872,139 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 12,996,899 |
| Non-operating Income & (Expense) | 122,633 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,345,049 |
| Cost of Funds | 19,163,274 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 10,813,650 |
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