In 1941, three employees of the Rochester Telephone Corporation founded our credit union with a simple goal: to help members save and borrow at attractive rates in order to improve their lives. Over 75 years later, with a vastly expanded array of products and services, The Summit still holds that goal.

Our Board of Directors keeps us mindful of this mission; their diverse array of backgrounds and expertise helps guide The Summit’s management to ensure that our practices are in the best interests of the members. Our annual report outlines these practices along with the financial results, and shows how we fulfilled our goals.

Summit Stats

  • 80,000+ active members

  • $850+ million in assets

  • 700+ member companies

  • 230+ employees

  • 9 branches in the Rochester, NY area

  • 3 branches in the Syracuse, NY area

  • 2 branches in Cortland, NY area

  • 2 branches in the Buffalo, NY area

  • 1 branch in Seneca Falls, NY

History of the Credit Union

The early years

  • In 1937, Harold Madigan introduced the idea of starting a Federal Credit Union during a Departmental Council Meeting of the Rochester Telephone Corporation. View the original letter.

  • Founded in 1941 as Rochester Telephone Federal Credit Union

  • In 1957, we moved into our first headquarters on the 11th floor of the Sibley building in downtown Rochester

1980 – 1989

  • In 1983, The Summit name is born following a contest among members to submit a name for the credit union, and our Seneca Falls branch is opened in an old house next to Goulds Pump

  • In 1984, we introduced ATMs to our members

  • In 1988, we opened our Waring Road branch

1990 – 1999

  • In 1993, the Waring Road branch was relocated to the Hudson Plaza in Irondequoit

  • In 1995, we moved the location of our Seneca Falls branch to its current location on Fall St. and opened an East Rochester branch

  • In 1996, we moved into our new corporate headquarters in Greece with a branch on the ground floor and dedicated the building to John Bryson, our long-serving President and CEO

  • In 1999, we merged with SOD FCU and opened the Blue Cross Blue Shield satellite branch in downtown Rochester

2000 – 2009

  • In 2000, we opened our Henrietta branch in front of Southtown Plaza on Jefferson Road

  • In April 2000, we launched Online Access and Online Bill Payment

  • In 2003, we merged the Buffalo Telephone Employees Federal Credit Union into The Summit adding just over 5,000 members and one branch in downtown Buffalo

  • In 2005, we merged the Hilton Federal Credit Union into The Summit bringing just over 1,500 members and one branch location into the credit union

  • In 2005, we moved the East Rochester branch to Penfield Road in Penfield

  • In 2006, we opened a new Hilton branch and moved the City of Buffalo branch to Clarence

  • In 2006, we also merged the Brighton School Employees Federal Credit Union into our credit union adding over 400 members and one branch location

  • In July of 2006, we opened our new Brighton branch in the TOPS-Brighton Plaza

  • In 2007, we introduced Shared Branching (Co-Op Shared Branch)

  • In 2007, we merged First Link Federal Credit Union into The Summit adding over 1,200 members and opened our 2nd Buffalo branch on Delaware Ave. near Hertel

  • In 2009, we merged Kenton Federal Credit Union into our credit union bringing over 3,000 new members into the Summit family along with one branch location on Sheridan Drive in Tonawanda

  • In 2009, we moved the Irondequoit branch in the Wegmans Plaza to its current location right on Hudson Ave. near Titus Ave. in the same plaza and moved the Brighton branch to Monroe Ave. near the 12 Corners

2010 – today

  • On January 1, 2010 The Syracuse Federal Credit Union merged into The Summit adding over 22,000 members and 7 branches in Syracuse and Cortland

  • In March of 2011, we opened our Main/Winton branch in the city of Rochester

  • In May of 2011, we merged Frontier Federal Credit Union into The Summit adding over 500 new members into the Summit family

  • In August of 2011, we opened a branch on the SUNY Cortland campus in Neubig Hall, plus 3 on campus ATMs

  • In October of 2011, we launched Mobile Banking

  • In November of 2012, we launched Health Savings Accounts

  • In June 2013, we opened our Perinton branch located at 665 Moseley Rd. Fairport, NY 14450

  • In February 2014, we launched Mobile Check Deposit and Mobile Apps for Tablets

  • November 3, 2014, we launched The Summit Retirement & Investment Services

  • December 15, 2014, we launched Popmoney

  • January 9, 2015, we launched Design Your Own Card for our Visa® Credit Cards

  • January 2016, we opened our new Henrietta Branch located at 2087 East Henrietta Road, Rochester, NY 14623

  • June 2016, we opened our new Camillus Branch located at 130 Township Boulevard, Camillus, NY 13031

  • July 2017, we opened our new Taft Road Branch located at 5201 West Taft Road, Syracuse, NY 13212

  • November 2017, we opened our new Cortland Branch located at 877 Route 13, Cortland, NY 13045

Image of historical photos arranged like a file strip

History Book

Our 70+ year legacy is a long and storied one touching thousands of families, friends and neighbors along the way. The credit union remains strong and continues to thrive today operating by the same principles that were first established by our founders in 1941… to help members improve their lives.

Read the entire story of our credit union shown in pictures and words.


Image: Michael S. Vadala, President and CEO

A Note from Our President

Dear Members,

At The Summit, our member-owners and their financial needs are our top priority. We pride ourselves on being a large credit union that still holds true to traditional credit union values. Your voice and vote guides the direction of the credit union meaning that we’re here for you, we work for you, and we’ll do everything in our power to ensure that your relationship with The Summit is a positive and rewarding one through every phase of your life.

If you’re already a Summit member, you understand the exclusive benefits the credit union offers and have experienced our personal, world-class member service! If you’re not a member yet, please explore our website to learn more about the credit union and become a member today.

All of us at The Summit look forward to serving your financial needs now and in the future. We’ll continue to earn your business every day by providing a wide array of affordable products and services combined with competitive rates and the friendly personal service you’ve come to expect.

Thank you for your continued loyalty.

Michael S. Vadala
President and CEO

Board of Directors

Our Board of Directors is a diverse team of volunteers who live and work throughout New York State from Buffalo to Syracuse and everywhere in between. They are lawyers, professors, agency presidents, and community members. They provide knowledge and leadership to keep us focused on our members and our mission.

Current Board Members

Image: Photo of the Board of Directors, in no particular order, Executive Members: Thomas B. Quirk, Chairman; Augustin Melendez, Vice Chair; Kofi Appiah Okyere, Treasurer; Chris Modesti, Secretary Directors: Clarence “Chip” Turner; Daryl Wolf; Elizabeth A. Dudman; Gerald K. Gebauer; Richard W. Murphy; Sarah Sorensen; William A. Reifsteck Associate Board Member: Kate Sweeney Directors Emeritus: Charles J. Faggiano; Joseph E. Thyroff


  • Thomas B. Quirk, Chairman
  • Augustin Melendez, Vice Chair,
  • Kofi Appiah Okyere, Treasurer
  • Chris Modesti, Secretary


  • Clarence “Chip” Turner
  • Daryl Wolf
  • Elizabeth A. Dudman
  • Gerald K. Gebauer
  • Richard W. Murphy
  • Sarah Sorensen
  • William A. Reifsteck


  • Kate Sweeney


  • Charles J. Faggiano
  • Joseph E. Thyroff

Volunteer Nomination Certificate and Petition

The Summit has volunteer vacancies for 2020! If you are interested in petitioning to be a volunteer on the Board of Directors, you will need to follow the guidelines below:

  • A Volunteer Nomination Certificate and Petition must be signed by 500 members. Signatures must be legible and include the member’s account number.

  • Please include your resume with your petition.

  • Petition must be received by November 14th, 2019, and sent to Jason Adams, The Summit FCU, Canal Ponds Business Park, 100 Marina Drive, New York 14626.

  • The election will not be conducted by ballot and there will be no nominations from the floor when the number of nominees equals the number of positions filled.

Supervisory Committee

The Supervisory Committee is a five-member committee of volunteer members who are appointed by The Summit Federal Credit Union’s Board of Directors. The committee works independently of the credit union’s management overseeing the work of internal and external auditors, and is responsible for ensuring that member assets are adequately safeguarded, accurate records are maintained, and proper business practices are followed.

In addition, reviewing and resolving member complaints that cannot be rectified through normal channels is another responsibility of the Supervisory Committee. However, most issues can be resolved efficiently by credit union staff in the branches, or through email at or at (585) 453-7030 or (800) 836-SFCU extension 7030.

If you are unable to resolve an issue or discrepancy in your account through normal channels, you may contact the Supervisory Committee at PO Box 26477, Rochester, NY 14626, Attn: Supervisory Committee.

Annual Reports

For more insight on our operations, feel free to review our current and past Annual Reports.