The Summit Blog

Why The Summit is a Safe and Stable Place for Your Money

March 14, 2023

You may have seen or heard the recent news about the collapse of two financial institutions. We want to reassure our members that The Summit Federal Credit has no relationship to, or investment in, either of these financial institutions.
We are committed to the financial wellness of our members and take our responsibility to protect your money very seriously.

Share Certificates 101

March 3, 2023

If you have some extra savings and want to earn higher dividends than a regular savings or money market account, a share certificate might just be the perfect way.

Common Cents for Couples: How to Manage Money Together

February 8, 2023

For some couples, February might be a month for romantic connection – celebrating Valentine’s Day with dinner reservations or romantic gifting. For others, solidarity and closeness can be found in boycotting Cupid together. Regardless of whether you have a love or hate relationship with the cherubic matchmaker who wields heart-tipped arrows, one thing is certain: cohabitating couples will enjoy a more harmonious relationship when they align on money matters.

How to Talk to Your Kids About Inflation

January 30, 2023

From eggs and milk to utilities, the cost of everyday items is going up. Inflation is encroaching on the family budget. Discussions around the dinner table increasingly include the high cost of everyday things and how to accommodate that within the budget.

Kids are observant. It’s likely that they are noticing the fact that their allowance money isn’t going as far as it used to. So how do you explain inflation to your kids and what that means for your family budget?

Set ‘Em and Forget ‘Em: 4 Financial Resolutions You Can Accomplish Now

January 4, 2023

New Year’s resolutions are a mixed bag for many of us. On the one hand: personal betterment! On the other hand: methodical auditing of our refrigerator, checking account, and various vices. On the cusp of a fresh calendar year, we feel compelled to immediately transform our lives, but—as is the case with most good things—change takes time. This is especially true when it comes to financial goals. And in the aftermath of steep holiday spending, our goalposts can feel…far away.   If you want a few financial resolutions that you can achieve early into the new year (because who doesn’t love an easy to-do list??) here are some suggestions. 

Creative Ways to Save in 2023

December 15, 2022

The New Year offers a great opportunity to make resolutions, whether it’s improving your physical or financial wellbeing. It’s a good time to take stock and make plans to save more cash. Here are some helpful tips!

Feel Like Folding 2

December 9, 2022

Our origami blogs have been really popular with our members! Here’s a new, easy origami project that you can enjoy. It’s easy enough to involve the entire family!

A Season for Sharing

December 2, 2022

At The Summit Federal Credit Union, we consistently focus on the fundamentals of financial wellness with young people. When we are out in the community talking with students and through our blogs, we always concentrate on the three “S’s”: Save, Spend, and Share.  While we’ve spent a lot of time this year on Saving and Spending, it is “Sharing” that comes to mind especially at this time of year.

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.

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.

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.

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.