Overview
What is Summit Credit Union?
Summit Credit Union, a Wisconsin-based cooperative nonprofit corporation, served over 240,000 members in 2022. With a mission to encourage thrift among its members, create a source of credit at fair rates, and offer opportunities for improving economic and social conditions, the credit union saw significant growth in loans and deposits during the year. Incorporated under Wisconsin state law, Summit Credit Union strives to help its members save and access credit, contributing to their financial advancement. With a workforce of 1,041 employees, the credit union continues to offer attractive rates on various saving and lending products.
Official website here: www.summitcreditunion.com
Is Summit Credit Union legitimate?
Summit Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Summit Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $6,440,600
Professional Fundraising Fees: $0
Other Salaries and Wages: $49,851,359
For more financial information, click here
What is the mission statement of Summit Credit Union?
Summit Credit Union is a cooperative, nonprofit corporation, established under Wisconsin state law, dedicated to encouraging thrift among its members and creating a reliable source of credit at fair and reasonable costs. The credit union's primary goal is to provide opportunities for its members to enhance their economic and social conditions. In 2022, over 240,000 individuals were served by the credit union, and its attractive savings and lending products facilitated significant growth in loans and deposits, surpassing the 25% mark.
Official website here: www.summitcreditunion.com
Who is the CEO of Summit Credit Union?
Kim Sponem is the Ceo/President of Summit Credit Union. The CEO's salary of Summit Credit Union is $2,091,506 and their total compensation is $2,176,347.
Official website here: www.summitcreditunion.com
What is the revenue of Summit Credit Union?
Summit Credit Union's revenue in 2022 was $231,091,693.
Official website here: www.summitcreditunion.com
Who are the executives of Summit Credit Union and what are their salaries?
The average compensation at Summit Credit Union during 2022 was $54,075. There are 1,041 employees and 14 volunteers at Summit Credit Union.
Here are 26 key members and their salaries (Summit Credit Union's CEO's salary is $2,091,506 and their total compensation is $2,176,347):
- Kim Sponem (Ceo/President)
- Keith Peterson (Cfo)
- Christopher Hefter (Cio)
- Rebecca Gerothanas (Coo)
- Christopher Schell (Cmo)
- Kelly Erbach (Vp - Business Tech Solutio)
- Nancy Kasten (Svp Hr & Lod)
- Eric Mathias (Vp Sales Development)
- James Holden (Vp - Blo Market Manager)
- John Jones (Vp - Business & Commercial Credit Risk & Operation)
- Adam Pelletter (Mortgage Loan Officer)
- Ann Knutson (Svp - Hr & Org Development)
- Aaron Hurt (Vp Business Technology Services)
- Kristin Nesbitt (Vp - Mortgage Lending)
- Jeremy Eppler (Vp - Risk Management)
- Mary Turke (Vice Chair) [Trustee/Director]
- David Reszel (Chair) [Trustee/Director]
- Mike Schenk (Former Chair) [Trustee/Director]
- Daniel Kaiser (Secretary) [Trustee/Director]
- Bob Lindner (Treasurer) [Trustee/Director]
- Stefanie Norvaisas (Director)
- Dennis Sauey (Director)
- John Litscher (Director)
- Mike O'Brien (Director)
- Abigail Rodriguez (Director)
- Samira Salem (Director)
Official website here: www.summitcreditunion.com
Where can I find the form 990 for Summit Credit Union?
The Summit Credit Union’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.summitcreditunion.com
Learn more at the official website: www.summitcreditunion.com
Mission Statement of Summit Credit Union
Summit Credit Union, a cooperative nonprofit corporation, was established under Wisconsin state law with a mission to encourage thrift among its members, create a dependable source of credit at fair and reasonable rates, and offer opportunities for members to enhance their economic and social conditions. This financial institution served over 240,000 members in 2022, providing them with attractive savings and lending products that aided in their financial growth.
Summit Credit Union's strategic objectives included fostering thrift, acting as a credible lender, and enabling members to improve their economic situation. The Credit Union's thriving membership base and robust financial performance in 2022 are testament to its success in achieving these goals. Loans and deposits experienced significant growth, surpassing the 25% mark, further underscoring the Credit Union's role as a vital financial partner for its members.
By offering affordable credit and savings options, Summit Credit Union empowers its members to save for the future, invest in their families, and address immediate financial needs. This Wisconsin-based cooperative is dedicated to helping its members reach their financial potential and improve their overall wellbeing.
Impact
This information is meant to be a general summary of Summit Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Summit Credit Union, a cooperative corporation incorporated under Wisconsin state law, has a significant impact on the financial well-being of its members. In 2022, Summit served over 240,000 members and continued to offer attractive rates on various saving and lending products, helping members improve their financial position. The credit union experienced substantial growth in both loans and deposits, with each increasing more than 25% during the year. Summit Credit Union plays a vital role in encouraging thrift among its members, providing fair and reasonable credit options, and creating opportunities for members to enhance their economic and social conditions.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$159,678,206
OTHER OPERATING INCOME
Revenue
$34,823,470
FEES & SERVICE CHGS
Revenue
$17,052,799
Organization Details
Founding Year
1935
Phone
(608) 243-5000
Principal Officer
Kim Sponem
Main Address
PO BOX 8046, MADISON, WI, 537088046
Website
www.summitcreditunion.com
NTEE Category
Code: W60 - Public benefit
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