BauerFinancial Inc., a premier credit union and bank rating firm, announced The Summit Federal Credit Union has once again been awarded its highest (5-star) rating for financial strength and stability. That means that, even in the current climate, The Summit is able to excel in such areas as capital adequacy, profitability and asset quality.
A press release read, “Earning and maintaining this top rating for 41 consecutive quarters, especially now, perhaps makes this accomplishment even more significant. The Summit has earned the title of ‘Exceptional Performance Credit Union,’ a status reserved for institutions that have earned Bauer’s highest rating consistently for at least 10 consecutive years.”
“The Summit Federal Credit Union is proof that some financial institutions are able to thrive even in the face of substantial adversity. As a member-centric credit union, The Summit has a deep understanding of the needs and conditions of its members,” said Karen Dorway, president of BauerFinancial.
The press release noted, “Credit unions uniquely coalesce with the needs of their members and work toward a common goal. The Summit has demonstrated this commitment since its inception almost 80 years ago, and today its dedication is stronger than ever.”