Summit Credit Union Headquarters Information

Summit Credit Union is a credit union that’s based in Madison, Wisconsin. The credit union currently has 35 branches which are all located within the state.

The credit union is one of the largest organizations of its kind in the state with over 153,000 members and assets valued at over $2.6 billion as of 2016.

The credit union is federally insured and state chartered. It’s regulated by the National Credit Union Administration.

History of Summit Credit Union

Summit Credit Union has a history that stretches back to 1935. The credit union was founded by CUNA (Credit Union National Association) and CUNA Mutual Group. Its purpose was to add to the credit union movement and to provide credit union services to those that needed it.

At the very beginning, the credit union’s first branch was located in the Wisconsin State Capitol’s basement. At that time, only people employed by the Wisconsin state could become members.

The credit union’s offices would later move to Wilson Street before ending up at what was then West Washington Avenue.

The credit union’s assets grew and by 1959, its assets were valued at $1 million. This is the equivalent of $8.39 million today. By 1990, the assets of the credit union had attained a value of $100 million or $187 million today.

In 1995, the State Capitol Employees Credit Union finally changed their charter. Now anyone who lived and worked within Dane County in Wisconsin could become a member of the credit union. This was also around the time they shifted their headquarters to their current location.

The credit union’s name was changed to State Capitol Credit Union before being changed to Summit Credit Union in 2001. The latter change came after it merged with Commonwealth Credit Union.

Major Mergers

Between 1982 and 2010, the credit union underwent five mergers with other credit unions. The two main ones were:

• Merger with Journal Credit Union: Summit merged with this credit union from Milwaukee in 2007. As a result, 3,700 members were added to Summit which had 61,000 members before then. The merger also brought it $29 million in assets.
• Merger with Great Wisconsin Credit Union: In 2008, the merger of Summit and Great Wisconsin was cleared by the NCUA. As a result of the merger, the credit union became the largest in the state with assets in excess of $1.1 billion.

Summit Credit Union Headquarters

The credit union’s current corporate offices are located at 4800 American Parkway, Madison, WI. The building is a class A office building with three stories located off Highway 151.

The building offers 33,486 square feet of space which is all occupied by the credit union. There is also parking space for 125 vehicles.

However, Summit Credit Union has outgrown its current headquarters. The credit union will be moving to a new location in 2020, when its current lease expires.

Construction of the new premises started in 2017 on a site along Interstate 94. The new building will be six stories high and will have 152,000 square feet of space.

Summit Credit Union Headquarters Address

4800 American Pkwy, Madison, WI 53718, USA

---