The Summit Federal Credit Union is celebrating its 80th year in operation.
Founded in Rochester in 1941 as the credit union for employees of the Rochester Telephone Company, The Summit grew to encompass more member groups over subsequent decades. A contest in 1983 gave the credit union its current name.
The Summit expanded into areas outside of Rochester, and now serves members in Western New York, the Rochester area, Central New York, Seneca Falls and Cortland. The Summit is also distinguished by being one of approximately 14% of billion-dollar credit unions nationwide that are led by a woman. Laurie Baker is The Summit’s president and CEO.
“What’s really unusual is that The Summit has been a credit union from the start eight decades ago,” said Cheryl Pohlman, vice president of marketing and community relations. “We didn’t begin as a bank, so the credit union philosophy of ‘people helping people’ is deep in our DNA.”
Recent developments at The Summit include new digital spend accounts geared toward students and young adults. And earlier this month, The Summit launched its virtual branch, an innovation that replicates the face-to-face assistance people get at a branch right on a mobile phone or other electronic device.
Founded in 1941, The Summit Federal Credit Union is a not-for-profit, member-owned, full-service financial cooperative. With over $1 billion in assets, The Summit has approximately 250 employees and provides a full range of products and services to approximately 88,000 active members. For more information, visit www.summitfcu.org.