General Information
Membership
Checking Accounts
Savings Accounts
Loans
Mortgage/ Home Equity
Electronic Services
Direct Deposit/Payroll Deduction
Supervisory Committee
General Information
Q. How is The Summit FCU different from other financial institutions?
A. The Summit is a not-for-profit financial cooperative owned and operated by its members. Originally established as financial cooperatives, credit unions experience much lower operating costs and have no outside stockholders who require a return on their investment like traditional banking institutions. Therefore, The Summit is able to offer more benefits to its members, including lower/no fees plus competitive savings and loan rates.
Q. What types of products and services do you offer?
A. From Checking Accounts to Mortgages and Home Equity products, IRAs and Money Market Accounts to Summit ExpressSM Auto Loans, The Summit offers everything you would find at a traditional financial institution…and much more!
Q. Are my Summit FCU deposits insured?
A. The Summit is a federal credit union and is chartered, insured and supervised by the National Credit Union Administration (NCUA), an agency of the United States Government. Funds on deposit at all federal credit unions are insured by the NCUA, up to the full legal limit of $250,000 per account holder(s). Your retirement accounts (Traditional and Roth Individual Retirement Accounts and Keough accounts) are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF).
Q. How is my Relationship Account Level determined?
A. Your checking, savings, certificate, loan, VISA®, and mortgage account balances all work together to earn you extra benefits and savings. On the first business day of each month, we'll lock in your Relationship Account Level, for that month - Classic, Plus or Premier - based on the previous month's Relationship Account Balance.
Relationship Account Balance: The Relationship Account Balance for each account is the sum of: the average daily balance for the month in each of your share suffixes; all loan and certificate account balances as of the last business day of the month; and the previous month's VISA® credit card New Balance as disclosed on your Summit VISA® credit card statement.
Q. How can I get a PIN (Personal Identification Number) for my ATM card, VISA® Check Card and for Quik Tran?
A. You'll need to visit your nearest Summit branch location or call (585) 453-7030 or (800) 836-7328 extension 7030. You may also obtain a PIN Request Form in the Forms section of our website.
Q. How can I make a deposit into my savings or checking account?
A. The most convenient method of making deposits is through Direct Deposit. If your employer offers payroll deposit, simply request to have your paycheck deposited every pay period, and your money will be ready and waiting for you - even when you're out of town or can't pick up your check.
In addition, you may make deposits in person at any branch or drive-up window during regular business hours. Deposits are also accepted at any Summit branch ATM. You may also make deposits by mail or at our night deposit boxes located in our Cicero, Civic Center, Clarence, Cortland, Erie Blvd, Genesee Street, Henrietta, Irondequoit, Liverpool, Penfield, and Seneca Falls branches. Find out more about managing your Summit Account.
Q. What are The Summit's hours, locations, and telephone numbers?
A. Please visit the Branches section of this website for this information.
Membership
Q. How do I know if I am eligible to join The Summit?
A. Today, more individuals than ever can join The Summit! You're eligible to join if you're an employee, retiree, or volunteer of one of our member companies; if you're related to or share a permanent residence with a Summit member or potential member; or if you live, work, worship, volunteer, or attend school within the geographic boundaries of the City of Rochester, Town of Henrietta, City of Geneva, City of Buffalo, City of Tonawanda, Town of Tonawanda, Town of Amherst, Cortland County or the City of Syracuse. You are also approved to join if your organization has an approved member company or associational tie with The Summit.
Q. How do I join?
A. It's easy to join The Summit. You can download and print a Membership Enrollment Application and return it by mail, or visit your nearest branch and apply in person.
Q. Can I still join if I'm retired?
A. Yes, you may still join if you retired from one of The Summit's member organizations.
Q. Will my membership end if I leave the member company where I'm currently working now?
A. No, once you're a Summit member, you're a member for life.
Q. How do I get my company or Association to be a Summit Member Company?
A. Summit membership for your employees or members is a great no-cost benefit. To obtain the necessary paperwork to enroll your company, please contact us at businessrelationships@summitfcu.org, or call us at (585) 453-7030 or (800) 836-7328 extension 7030 and ask to be connected to the Business Relationships Department.
Checking Accounts
Q. Do you offer checking with no monthly fees?
A. Yes, our Enhanced Checking and Basic Checking accounts do not have a monthly service charge when you maintain a combined Relationship Balance of $1,500 or more ($500 with direct deposit) in your Summit deposit and loan accounts.
Q. Are there any minimum balance requirements with your checking accounts?
A. There are no minimum balance requirements on our Enhanced Checking or Basic Checking when you maintain a combined Relationship balance of $1,500 or more ($500 with direct deposit) in your Summit deposit and credit accounts. An average daily balance per month of $1,000 is required for Premium Checking accounts, or a fee will be applied to the account for that month.
Q. Do you offer checking that pays dividends?
A. Yes, our Premium Checking pays competitive dividends to your account when you maintain an average daily balance of $1,000 throughout each month.
Q. Do you offer a check card/debit card?
A. Yes, our Summit VISA® Check Card lets you make purchases from your checking account without the hassles of writing a check, waiting for approval, providing identification, or having an "out-of-town" check rejected. The Summit VISA® Check Card is available with both the Enhanced Checking and Premium Checking accounts.
Q. How do I place a stop payment on a check?
A. You can stop payment on a check by visiting any Summit branches or calling (585) 453-7030 or (800) 836-7328 extension 7030.
Q. How can I order new checks?
A. You can order new checks by calling or visiting one of our branch or calling (585) 453-7030 or (800) 836-7328 extension 7030. Checks can also be ordered through Summit Online Access. Simply log in using your PIN, and select "Check Ordering" from the top navigation bar.
Q. What is Courtesy Pay?
A. Courtesy Pay is our latest checking account enhancement. This new service is designed to provide a valuable benefit by covering checks when other funds are not available to do so. It should save you money as well as give you peace of mind from embarrassing checkbook errors. Learn more.
Q. What is The Summit's routing and transit number?
A. Our Routing and Transit number is 222382315. Visit our Direct Deposit page for information regarding making electronic transactions into your account.
Savings Accounts
Q. What types of savings accounts do you offer?
A. We offer a wide range of savings products to meet your financial goals. In addition to traditional savings accounts, we offer Money Market savings accounts, Share Certificates, Holiday and Vacation Club savings accounts, Coverdell Education Savings accounts and much more.
Q. Are there savings options available for my children or grandchildren?
A. Yes, in fact The Summit has many options to choose from that allow children to start saving at an early age, including Youth Share Certificates; Safari Club Savings, and Coverdell Education Savings. If they do, they're more likely to maintain this important financial building block for a lifetime.
Q. What are your current rates?
A. You can access current Summit rates in the Rates section of this site, or by calling our Rate Hotline at (585) 453-RATE or (800) 836-7328 extension 7283.
Loans
Q. What types of loans do you offer?
A. When you're looking for the smart way to borrow, look to The Summit. We offer a variety of low-cost loans, including: Mortgages, Home Equity Lines of Credit and Loans, Auto Loans, Personal Loans and more.
Q. What are your loan rates?
A. You can access our current loan rates in the Rates section of this site, or by calling our Rate Hotline at (585) 453-RATE or (800) 836-7328 extension 7283.
Q. How do I arrange for my payments to be made through automatic transfer or payroll deduction?
A. You can make your payments by having them transferred from your checking or savings account (automatic transfer) or by having your monthly loan payment automatically deducted from your paycheck (payroll deduction). Simply visit one of our branch locations or call us at (585) 453-7030 or (800) 836-7328 extension 7030 to request either of these services.
Q. How can I estimate what my monthly payments will be?
A. This site includes convenient loan calculators to help you determine what your monthly loan payments will be to make budgeting easier.
Mortgages/Home Equity Loans and Lines of Credit
Q. Do you offer mortgages and home equity loans?
A. Yes, we offer a variety of Mortgages and Home Equity products, with low rates, convenient terms and repayment options to best fit your needs.
Q. Are there tax advantages with a home equity loan or line of credit?
A. Yes, when you use your home as collateral to secure your credit, the interest that you pay may be up to 100% tax-deductible. Please see your tax advisor for details.
Q. What's the difference between the Home Equity Line of Credit and the Home Equity Loan?
A. Visit the Home Equity section of our site for more information.
Q. What are your current mortgage rates?
A. To view our most current mortgage rates, visit our daily mortgage rate listing, or call our Mortgage Rate Hotline at (585) 453-7017 or (800) 836-7328 extension 7017.
Q. How do I get pre-approved?
A. Contact the Mortgage Division at (585) 453-7010 or (800) 836-7328 extension 7010 for more details about The Summit's Home Pre-Approval Program. It will give you peace of mind and can offer you significant negotiating power because the seller knows your mortgage is already approved. Plus, it can speed up the process so you can move into your home sooner than you think.
Q. How can The Summit help me as a first-time home buyer?
A. We're Here For You to make the process of buying your first home easier. We offer free Home Buying Seminars to help you get all the information you need in one place, at one time. Our seminars cover every step in the process from downpayment to closing. Call us at (585) 453-7010 or (800) 836-7328 extension 7010 for details about our next seminar.
Electronic Services
Q. Do you offer Online Banking?
A. Through Summit Online Access you can transfer funds, check your balances, make loan payments, view cleared check images, apply for online statements, and more. Summit Online Access is a free service for all Summit members. You'll need your Quik Tran PIN to get started.
Q. Does The Summit offer Online Bill Payments?
A. Yes, our Online Bill Payment is available through Summit Online Access. With Online Bill Payment, you can pay anyone, at any time, from anywhere that you can access your account online. This service is free to all Summit members.
Q. Are my transactions and personal information safeguarded when using The Summit's website?
A. Yes. There are several ways to confirm that The Summit's website is safe and secure. First, the address of our site begins with "https" indicating a secure site. (A website address that begins simply with "http," is not secure.) Second, look for an icon indicating that security is on. In Microsoft Internet Explorer, look in the lower right portion of the status bar for a yellow padlock icon. In Netscape Navigator, look for a key in the lower left portion of the status bar; blue and unbroken means a secure connection. These signs of security are also a signal that encryption is being utilized. Encryption involves exchanging numbers between a browser and a server. The numbers act like numbers on a combination lock to "unlock" the connection between the browser and server. To further protect your account information, make sure you sign off to break the connection when you are done using Summit Online Access. Also, using an anti-virus software on your computer further protects your files.
Q. What is Enhanced Login Security and how does it protect me?
A. This superior security technology protects your identity from whatever computer you're using, whether at home, at the office, or on the go. It identifies you as the true "owner" of your accounts by recognizing not only your password, but your computer as well. If your computer isn't recognized by us - you've logged in from a public computer, a different browser, or one you haven't used before - we'll ask you challenge questions as an additional line of defense to prevent unauthorized access. Your identity is protected, and your peace of mind is assured.
Learn more about Enhanced Login Security by visiting the Online Bill Payment section of our Online Services page.
Q. Is it possible to access my account after hours or when I'm out of town?
A. When you are out of town, you have several options for accessing your Summit accounts. You can (1) log onto Summit Online Access, (2) use our Quik Tran, 24-hour Teller-by-Phone Service, (3) visit a CU Service Center, or (4) access any of the 24-hour ATMs in our network.
Q. What do I do if my VISA® Check Card or ATM card isn't working?
A. If you have problems with your VISA® Check Card or ATM card, call or visit the nearest Summit branch or call (585) 453-7030 or (800) 836-7328 extension 7030 at your earliest convenience. We'll determine the origin of the problem and help restore your ATM services as quickly as possible.
Q. How do I report a lost or stolen card?
A. Members who have either lost or had their VISA® Check Card or ATM card stolen, should call The Summit's Lost/Stolen Department. During normal business hours, they can be reached at (585) 453-7000 or (800) 836-7328 extension 7000. After hours, please use our Hotline at (800) 754-4128.
Q. Where are your ATMs located?
A. Visit the ATMs section of this website.
Q. What ATMs can I use without being charged?
A. You can make surcharge-free transactions at any Summit-owned ATM. In addition, we've partnered with several ATM networks to give you access to hundreds of surcharge free ATMs. To find out more about Surcharge Free versus Foreign ATM Transactions, visit the Helpful Hints for New Members area of this site.
Direct Deposit/Payroll Deduction
Q. What is direct deposit and how can I sign up?
A. With Direct Deposit, you can have your payroll or government check automatically deposited into your Summit account every payday. You'll save time, and your money will be there, even when you don't have time to come in and cash a check. Download a Summit Simple SwitchKit, call (585) 453-7030 or (800) 836-7328 extension 7030 or visit any Summit branch to take advantage of this convenient service.
Q. What is payroll deduction and how can I sign up?
A. You can arrange to have loan payments automatically transferred from your payroll each month for easy budgeting and extra peace of mind. Simply download a Summit Simple SwitchKit, call (585) 453-7030 or (800) 836-7328 extension 7030 or visit any Summit branch to make arrangements for this service.
Supervisory Committee
Q. What is the Supervisory Committee?
A. The Supervisory Committee is a five-member committee appointed by The Summit Federal Credit Union's Board of Directors. The committee is comprised of volunteers who are members of the credit union and works independently of Summit management. It oversees the work of internal and external auditors. It is also responsible for ensuring that member assets are adequately safeguarded, accurate records are maintained, and proper business practices are followed.
Q. How can the Supervisory Committee help me as a member?
A. The committee is also responsible for reviewing member complaints that cannot be resolved through normal channels. Most issues can be resolved efficiently and effectively by credit union staff in the branches, or through the Member Service Center. If you are unable to resolve an issue or discrepancy in your account through normal channels, you may wish to contact the Supervisory Committee.
Q. How do I contact the Supervisory Committee?
A. To contact the Committee, write to PO Box 26477, Rochester, NY 14626, Attn: Supervisory Committee.
 This icon denotes a link to a third party site. Please click here to view The Summit FCU's Third Party Disclaimer.
The Summit FCU is an Equal Housing Lender. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. All mortgage programs at The Summit Federal Credit Union require credit and property approval, and you must be a Summit member to apply. Mortgage loans are only available for owner-occupied 1-4 family properties located in New York State.
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency
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