Summit Credit Union History Highlights
1935: Our credit union was established by the credit union movement as CUNA Credit Union with an open field of membership and was chartered by the WI banking commissioner. From day one we have had a location in the CUNA complex. Our second member was Roy Bergenren, one of the founders of the credit union movement.
1938: $19,321 in share deposits and 163 members
1944: Over half of loans are from outside Madison, many for employees of credit unions (if you worked at a credit union, you could not borrow there)
1965: Assets $8.3 million, and more than 14,000 members. Opened a new office at 2158 Atwood Avenue, and continued branch in CUNA complex.
1980: shared draft/checking accounts are introduced
1981-1994: Credit Union run by Ray Swanson
1984: Opened 3rd branch and new home office with first drive up on Yellowstone Dr.
1988: Mortgages and Quick Teller – 24-hour voice response were introduced
1990: $67.6 million in assets. 26,473 members
1994: Quick Loan introduced – automated way to apply for a loan on the phone
1994-1995: Credit Union run by Craig Esreal
1995: Website is introduced
1995-2002: Credit Union run by Mary Cunningham
1996: Contact center made available to members
1996: Internet banking made available to members
1998: Loans available through the contact center
2001: First small business loan is made, first bilingual ATM, Spanish membership applications, opened 4th branch – Fitchburg, with personal video tellers
2001: Celebrated $200 million in assets
2002-Present: Credit Union run by Kim Sponem
2002: The first credit union in Waunakee
2004: $300+ million in assets
2005: Founded STAR Credit Union for kids in Boys & Girls Club of Dane County
2005: Changed name of CUNA Credit Union to Great Wisconsin Credit Union
2006: Online check reordering introduced
2006: Built a new home office on Rimrock Road.
2007: $400 million in assets
2008: Merged with the former Summit Credit Union (Formerly State Capitol Employees Credit Union) in the largest credit union merger in Wisconsin history. Members voted to change our name to Summit Credit Union. Co-led by Kim Sponem & Andy Faust during 2-year transition.
2009: Project Money started
2010: Mobile banking made available to members
2011: Opened first high school branch at La Follette. Then: Memorial (2013); East (2016)
2012: Turned Fitchburg into an inspiration branch
2013: 1st Summit Fest Annual Meeting and Obstacle Races.
2013: Project Teen Money started
2014: $2 billion+ in assets, 142,880 members, 28 locations. Note: 24 full-service plus 2 high schools, 2 home loan offices & the post office
2014: Paid out first Cash Boomerang of $1.48 million
2018: Reached $3 billion in assets, 175,000 members, 37 locations
2019: Moved into new home office in Cottage Grove