Summit Credit Union
|Headquarters||Madison, Wisconsin, United States|
|Number of locations||25 (2011)|
|Key people||Kim Sponem (CEO)|
|AUM||$1.67 billion (2011)|
Summit Credit Union, founded in 1931, is a credit union based in Madison, Wisconsin. As of 2011[update], Summit has 25 locations throughout the state of Wisconsin. Summit currently has approximately 110,000 members and $1.67 billion in assets, making Summit the largest credit union in the state of Wisconsin. Summit Credit Union is regulated by the National Credit Union Administration (NCUA) as a federally insured state-chartered credit union. Summit was officially chartered in 1935 and was assigned NCUA charter number 67190.
Summit Credit Union was founded in 1931 in Madison as State Capital Employees Credit Union. The name was shortened to State Capital Credit Union, before being given its current name in 2001. Andy Faust was named CEO in 1982, and has overseen five credit union mergers. The largest of these has been with Great Wisconsin Credit Union, which resulted in Summit becoming the largest credit union in Wisconsin. Faust retired September 30, 2010 and Kim Sponem became the new CEO of Summit Credit Union on October 1, 2010. 
Journal Credit Union
The Milwaukee based Journal Credit Union merged with Summit in fall 2007. This merger resulted in the addition of the Journal's 3,700 members and $29 million assets to Summit's then 61,000 members and $677 million assets.
Merger with Great Wisconsin Credit Union
On November 29, 2007, Great Wisconsin Credit Union announced a merger with Summit Credit Union under the Summit name. Several months later, on March 17, 2008, Great Wisconsin Credit Union and Summit announced that the merger was cleared by the National Credit Union Administration and the Wisconsin Department of Financial Institutions, despite concerns raised by the Wisconsin Bankers Association. The Wisconsin Bankers Association noted that because the organization is a credit union, the merged organization would be exempt from state taxes. They also noted that the organization would be larger than 95 percent of the state's taxable banks. The merger was finalized, and took place in the Fall of 2008. This resulted in the creation of the largest credit union at the time in the state of Wisconsin with over $1.1 billion in assets.
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