Rates and Disclosures
Every rate, in one place
Deposit and loan rates, the fee schedule, funds availability, and the regulatory disclosures that sit behind them. Nothing here is buried in a footnote you have to hunt for.
Savings and deposit rates
Annual Percentage Yield. Rates effective July 2026.
Loan rates
Annual Percentage Rate. Rates shown are the lowest available and depend on credit history, term, and collateral.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Fee schedule summary
The complete fee schedule is provided at account opening and on request. These are the ones members ask about.
Funds availability
When money you deposit becomes money you can spend, under our Regulation CC policy.
Truth in Savings disclosure
Annual Percentage Yield assumes that dividends remain on deposit for a full year. A withdrawal will reduce earnings. Dividends on savings, checking, and money market accounts are calculated on the daily balance using the daily balance method and are credited monthly on the last business day of the statement cycle.
Rates on savings, checking, and money market accounts are variable and may change at any time at the discretion of the board of directors. Certificate rates are fixed for the term. Early withdrawal from a certificate is subject to a penalty of 90 days of dividends on terms of 12 months or less, and 180 days of dividends on longer terms.
Membership and par value
Membership requires a minimum $5 deposit in a share savings account, which represents your ownership share in the cooperative. The share must remain on deposit while your membership is open, and it is returned in full when you close your accounts. Every member has one vote in board elections regardless of the size of their balances.
Share insurance
Member deposits are federally insured to at least $250,000 by the National Credit Union Administration, a U.S. government agency, and backed by the full faith and credit of the United States. Coverage may exceed $250,000 across different ownership categories such as individual, joint, and retirement accounts. A member advisor can walk you through your specific coverage.
Lending disclosures
All loans are subject to credit approval. Advertised Annual Percentage Rates are the lowest available and assume excellent credit, automatic payment from a Summit account, and the shortest qualifying term. Your rate may be higher. Home equity lines are variable and adjust with the Wall Street Journal prime rate, subject to a lifetime cap disclosed in your agreement. Mortgage products may require escrow for taxes and insurance.
Summit does not charge a prepayment penalty on any consumer loan. You may pay any loan off early, in whole or in part, without an additional fee.
Privacy notice
Federal law requires financial institutions to tell members how they collect, share, and protect personal information. Summit does not sell member information, and we share it with outside parties only as permitted by law to service accounts, process transactions, prevent fraud, and meet legal obligations. The full privacy notice is delivered annually and is available at any branch or on the privacy page of this site.
Electronic funds transfer and error resolution
Notify us within 60 days of the statement date if you believe there is an error involving an electronic transfer or an unauthorized transaction. We will investigate and, in most cases, provisionally credit your account within ten business days while we complete the review. Report a lost or stolen card immediately by phone or by freezing it yourself in digital banking.
Equal housing and fair lending
Summit Federal Credit Union is an Equal Housing Lender and does not discriminate on the basis of race, color, religion, national origin, sex, marital status, age, disability, or because income derives in whole or in part from any public assistance program.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Common questions
How often do rates change?
Deposit rates are reviewed monthly by the board's asset-liability committee and may change at any time. Certificate rates are locked for your full term once opened.
Why is my loan rate higher than the advertised one?
Advertised APRs assume excellent credit, the shortest qualifying term, and automatic payment. Your offer reflects your credit history, the collateral, and the term you chose, and the advisor will show you what changes if you adjust any of them.
Is the $5 share deposit a fee?
No. It is your ownership stake in the credit union. It stays in your savings account, earns dividends, and is returned to you in full if you ever close your membership.
Can Summit put a longer hold on my check?
In limited cases, yes — new accounts, deposits over $6,725 in a day, repeated overdrafts, or a check we have reason to doubt. If we do, you receive a written notice stating when the funds will be available.
Do you sell my personal information?
No. We share information only as permitted by law to run your accounts, process payments, prevent fraud, and satisfy legal requirements. There is no marketing sale of member data.
Where do I get the full disclosures?
The complete Truth in Savings disclosure, fee schedule, funds availability policy, and privacy notice are provided at account opening and available at any branch, in digital banking, or by request at any time.
Questions about any of this?
Ask a member advisor to walk through the numbers with you. There is no charge and nothing to sign.