The Summit Blog

Insights and tips to help you with your finances, plus information from The Summit’s community partners.

All in the Family

November 16, 2022

After over 80 years, The Summit is now serving the second, third, and fourth generation of members. Many of our members started their accounts when the credit union was still known as the Rochester Telephone Company Credit Union. Through subsequent mergers with other credit unions, The Summit grew. Like other family traditions, membership to The Summit can be something that just happens…naturally.

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Money Talk: 6 Family-Proof Financial Topics for Holiday Gatherings

November 7, 2022

Festive gatherings—intended to bring people together—can quickly become the backdrop for Grinchy behavior when money enters the conversation. But with some creative questions (and mindful boundary-setting), finance doesn’t have to be a polarizing subject. Here are six conversation starters you can safely steer towards if you don’t want your great uncle or next-door neighbor giving you the side-eye during dinner.

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Secured Credit Cards 101

October 12, 2022

Secured credit cards are credit cards for which those with poor or limited credit history can qualify and begin building their credit. They are a wonderful option for people who have never had a credit card before, or who may not qualify for traditional credit cards because they don’t have a long credit history.

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Mobile Banking

October 6, 2022

Not to be confused with banking on a website, which relies on an internet connection, mobile banking is conducted through an app on your smartphone or tablet.  Mobile banking doesn’t always require the internet – it can also be accessed through the device’s data connection.

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The Homeownership Dream Come True

September 26, 2022

The Homebuyer Dream Program (HDP) can make first time homebuying a reality with a $10,000 grant through the Federal Home Loan Bank of NY that includes $9,500 towards a down payment and closing costs and $500 towards homeownership counseling. The best part? The money doesn’t have to be repaid because it is a grant.

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Saving for College: It’s Never Too Early to Start!

September 1, 2022

It’s September. The scent of autumn is in the air and the kids are back at school. It’s also National College Savings Month – a time to recognize the importance of saving early and often when planning for your child’s education.

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Scams and How to Avoid Them

August 29, 2022

They seem genuine. They appear to know a lot about you. They are the scammers. Scammers are a sad fact of life in today’s world. It is increasingly important to protect yourself against those who use lies and deceit to separate honest people from their money, property, or identity.

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You’ve Thought About Money FOR College. Now Think About Money AT College

August 19, 2022

College costs money. But while parents and students are calculating the expense of tuition, room and board, they can sometimes overlook the fact that students usually need additional funds for things like supplies, transportation and personal items (and maybe pizza).

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6 Ideas to Take the Stress out of Back-to-School Shopping

August 10, 2022

A recent back-to-school survey shows that parents plan to spend an average of $661 per child for back-to-school shopping this year, up 8% from 2021 and 27% from 2019. Clothing and accessories lead the increase, costing 18% more this year on average. School supplies cost 7% more.

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A family sitting in front of a wall that they are painting

5 Steps to Prepare for a Big Purchase

July 22, 2022

A financial journey typically includes several twists and turns – such as understanding how to manage spending, build savings and control debt. There might be “speed bumps” in the form of unexpected changes in income. Along the way, you might also navigate milestone purchases such as financing a home or car. 

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Shared Branching – What It Is and How You Can Benefit

June 28, 2022

Shared Branching is unique to credit unions. Shared Branching is a national network of credit unions from all over the country that share facilities to give members thousands of convenient locations to perform financial transactions.

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The Summit Celebrates Graduating Seniors With College Scholarships

June 23, 2022

Taste of Syracuse is the biggest 2-day event in Central New York. This year’s event will raise money for Make-A-Wish Central New York, and McMahon Ryan Child Advocacy Center.

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