Empower Your Financial Savvy

Through our free workshops members learn practical tips on how to reach goals and improve their personal finances.

Deposit Accounts

Account Name Minimum To Open Rate Type Minimum To Earn Dividends Dividend Rate Annual Percentage Yield* (APY) Frequency of Compounding
Membership Savings $5 Variable $100 0.05% 0.05% Quarterly
Special Savings $0 Variable $100 0.05% 0.05% Quarterly
Christmas Club $0 Variable $100 0.10% 0.10% Annually
Kids Club $5 Variable $5 0.10% 0.10% Quarterly
Money Market $1,000 Variable $1,000 0.15% 0.15% Monthly
Money Market Investor $10,000 Variable $10,000 0.20% 0.20% Monthly
Roth and Traditional IRA Accumulator $0 Variable $100 0.20% 0.20% Quarterly

MEMBERSHIP SAVINGS: If the Membership Savings (Share) balance drops below $5, credit union services will be discontinued.

DIVIDEND TERMS: With the exception of certificates, rates are variable and are subject to change monthly. If you close your money market, Certificate, or IRA accounts before the end of the dividend period, your dividends will be posted to the account prior to closing. For all other accounts, if you close your account before dividends are posted, you will not receive accrued dividends. Dividends will begin to accrue on the same business day of your deposit. Dividends are paid from current income and available earnings after required transfer to reserve at the end of the dividend period.

DIVIDEND CALCULATION METHOD: Dividends for Membership Ssavings, Special Savings, and IRA Accumulator accounts are calculated by using the average daily balance method, which applies a daily periodic rate to the average daily balance in your account for the period covered. Money Market, Christmas Club, and Certificate accounts are calculated by using the daily balance method, which applies a daily rate to the principal in your account each day.

CHRISTMAS CLUB: Dividends on Christmas Club accounts will be posted on September 30 of each calendar year. Funds will be available for withdrawal October 1 through December 31.

MONEY MARKET AND MONEY MARKET INVESTOR: There is no limit on the number or amount of withdrawals. If a Money Market Investor account falls below the minimum balance it converts to the Money Market rate.

CERTIFICATES: After the account is open, no additional deposits may be made until maturity. Approximately 30 days prior to maturity, a notice will be mailed to remind you of the maturity date. Unless you instruct otherwise, certificates will automatically renew into a new certificate with the same term at the then-offered interest rate for that term. Certificate specials will automatically renew into a non-special certificate with a standard term and rate closest to the term of the certificate special. There is a grace period of ten (10) days after the maturity date with withdraw funds without being charged an early withdrawal penalty or loss of interest earned.

APY ASSUMPTIONS: Annual Percentage Yield assumes dividends remain on deposit. Withdrawals of dividends will reduce earnings. Anticipated current dividend rates will be quoted or mailed to you upon request or at the time of opening an account.

CHECKING: Accounts are divided into transaction and savings sub accounts. Funds not used to pay debits may be transferred to the savings sub account. This process will not affect your available balance or monthly statement. Accounts cannot be used for unlawful Internet gambling. Inactive accounts with a zero balance for over 90 days will be closed.

Fees, Charges, and Limits

Some service fees are waived* for members of My CU Club, a program that rewards members based on the member’s relationship with the credit union. See club program specifics for qualifications and benefits.

  = Waived for Kids, Youth, Senior, Standard, Enhanced, Partner, and Premier Club members
  = Waived for Senior, Enhanced, Partner, and Premier Club members
  = Waived for Kids, Youth, Senior, Partner, and Premier Club members
  = Waived for Premier Club members

Checking Account

Service Fee
Minimum deposit to open $0
Monthly fee No charge
Per check charge No charge
Check printing, first 20 checks No charge
Check printing, after first 20
(free offer for Senior Club members)
Counter checks
(maximum 8 checks)
Overdraft transfer fee No charge
Overdraft transfer fee from deposit account
Minimum transfer $100; Money Market $500
No charge
Overdraft transfer fee from loan or credit card
Transferred in increments of $100
No charge
Non-sufficient funds
(check returned)
Non-sufficient funds
(check paid)
Stop payment $29

ACH (Automated Clearing House)

ACH non-sufficient funds, ACH returned $29
ACH non-sufficient funds, ACH paid $29
ACH stop payment or ACH dispute $29
ACH withdrawals No charge
ACH deposits No charge
One-time ACH origination $10

Debit/Credit Card

First 5 non-Summit ATM transactions per month No charge
Over 5 non-Summit ATM transactions per month $1 each
Point-Of-Sale (POS) transactions No charge
Issue of initial card No charge
Card replacement
(after one free per calendar year)
$10 each
PIN reset $10 each
Debit card foreign transaction fee 1% of amount

Fees charged by an ATM operator will be charged to your account as disclosed by the ATM operator.

Account Fees

Early membership closing fee
(within first 90 days)
Early Christmas Club withdrawal fee
(before October 1)
Membership account below $5
(immediate and monthly fee)
Reopen membership within six (6) months $25
More than three (3) withdrawals per month
Membership and Special Savings accounts only; Kids Club members exempt
Returned or refused check $29
Cash or deposit of non-member third party check $5
Check cashing $2 per check
CU service center transaction $2
Low balance inactive account
(48 months)
$5 per account per quarter
Check collection
(i.e., drawn on foreign bank)
Debit Card Only (DCO) account $5 per month

Account Information

Assisted transfers or balance inquiries
(excludes payments)
$2 per call
Printout history $3

Debit Card Daily Withdrawal Limits

Debit card ATM withdrawals $500
Free Checking debit card POS withdrawals $3,000
Debit Card Only (DCO) account POS withdrawals $2,000

People Pay

People Pay Daily/Monthly Transfer Limit $500/$5,000

Teller/Certified Check

Teller/Certified Check $3 each

Enhanced, Partner, and Senior Club members can receive one check per day, free of charge.

Wire Transfers

Incoming wire No charge
Domestic outgoing wire $15
Foreign outgoing wire $35

Money Market Transaction/Maintenance

Money Market Transaction/Maintenance No charge

A $5 quarterly maintenance fee applies if the account balance drops below $1,000.

IRA (Individual Retirement Account)

Transaction/maintenance fee No charge

A $5 quarterly maintenance fee applies if the account balance drops below $500 after the first year of account opening.

Certificate Early Withdrawal Penalty

6-11 Month Certificate Up to 90 days dividends
12-39 Month Certificate Up to 180 days dividends

Safe Deposit Boxes

3 x 5 $20 per year
3 x 10 $30 per year
5 x 10 $45 per year
10 x 10 $75 per year
Lost key $25
Box drilling
(per N.C. G.S. § 53C-6-13)
Our cost
Late payment fee
(after May 15)
Non-sufficient funds payment $29

Rental fees are automatically assessed annually on May 1.

Returned Statement

Returned Statement $5 per account per quarter

Check/Statement Copies

Check/Statement Copies $3 each

Kids, Senior, Partner, and Premier Club members can receive up to 10 free statement copies and 10 free check copies per calendar year.

Fax/Copier Use

Fax/Copier Use $0.25 per page

Overnight Delivery

Overnight Delivery Our cost

Excessive Research/Balancing Assistance

Excessive Research/Balancing Assistance $15 per hour

No fee will be charged for Kids, Youth, Senior, Partner, and Premier Club members or if it is a Credit Union error.

Escheat Research

Escheat Research $50

Tax Levy

Tax Levy $25

Non-Member Fees

Non-member checks presented by non-members for collection $10 each
Verification of deposit $10 each

Frequency of Statements: If you have a checking account, loan, or an ACH transaction posts to your account during the month, you will receive a monthly statement. Otherwise, you will receive a quarterly statement.

All inactive accounts, including checking, with a zero balance for more than 90 days will be closed. Summit Credit Union reserves the right to change the service charges, fees, and other features as necessary.

* Waived fees for club members do not apply to the use of Overdraft Privilege.

My CU Club Rewards Program

My CU Club has been developed to reward those members who support Summit Credit Union with their deposits, loans, and by making Summit their primary or only financial institution.

When you use Summit for your borrowing, savings, and checking needs, you help your credit union grow stronger, which leads to additional services and benefits everyone.

My CU Club Categories

There are two types of categories: age-based categories and relationship-based categories.

First, there are our age-based categories, which are:

  • Kids Club — Ages 0-12
  • Youth Club — Ages 13-22
  • Senior Club — Ages 55+

Then, there are our “relationship” based categories.

These categories are based on the total number of Qualifying Services as well as the total of your Qualifying Balance:

  • Standard Club — Members with at least one qualifying service, and qualifying loan and savings balances from $500 to $4,999.
  • Enhanced Club — Members with at least two qualifying services and qualifying loan and savings balances from $5,000 to $14,999.
  • Partner Club — Members with at least three qualifying services and qualifying loan and savings balances from $15,000 to $24,999.
  • Premier Club — Members with at least four qualifying services and qualifying loan and savings balances of $25,000 or more.

Your club category will be assessed at the end of each month and printed on your statement.

Qualifying Services

Qualifying services are determined by the number of unique account types a member has. For example, if a member has a Membership Savings (Share) account and a Special Savings account, they are equal to one qualifying service because they are both the same account type. The same would be true if you had two car loans or if you had multiple certificates. A Membership Savings account and a Christmas Club account however, would count as two qualifying services because they are designated as separate account types.

Qualifying Balance

Your qualifying balance is the total of all your Summit deposits plus the total of all your Summit loan balances. All your savings deposits and all your loan balances count, even if they are the same account types. Only loans more than ten days past due will not count. Visit our Web site for a more detailed explanation.


All My CU Club members receive access to our free ID theft recovery service, a $99 per year value! As members move from the Standard club through our Premier club, they enjoy additional free services and perks, as shown in the table below.

My CU Club Qualifying Services

Account Type Service
Membership or Special Savings
  • Membership Savings Account
  • Kids Club Savings Account
  • Emergency Loan Savings Account
  • Credit Builder Special Savings Account
  • Other Savings Accounts
Christmas Club
  • Christmas Club Savings Account
Money Market
  • Regular Money Market Account
  • Investor Money Market Account
  • Regular Certificate Account
  • Jumbo Certificate Account
Individual Retirement Account (IRA)
  • IRA Accumulator Account
  • Regular IRA Certificate Account
  • Jumbo IRA Certificate Account
Checking (with Direct Deposit or eStatements)
  • Free Checking Account
  • Debit Card Only Account
Auto Loans
  • New and Used Auto Loans
Motorcycle Loans
  • New and Used Motorcycle Loans
Boat Loans
  • New and Used Boat Loan
Recreational Vehicle Loans
  • New and Used RV Loan
Personal Loans
  • Signature Loan
  • Line of Credit Loan
Visa Credit Cards
  • Visa Platinum
  • Visa Platinum Rewards
  • Savings Secured Visa
  • Credit Builder Visa
Home Equity Line of Credit
Fixed-Rate Home Equity Loan
Secured Loans
  • Savings Secured
  • Certificate Secured
Credit Builder Loans
Emergency Loans

My CU Club Relationship-Based Benefits

= Free    = Low Fee Standard Club Enhanced Club Partner Club Premier Club
ID Theft Recovery Service Free Free Free Free
Check Cashing Free Free Free Free
CO-OP Shared Branch Transactions Free Free Free Free
Low Balance Inactive Account Fee Free Free Free Free
Teller/Certified Check Low Fee Free1 Free1 Free
Membership Account Below $5 Low Fee Free Free Free
Returned Third-Party NSF Checks Low Fee Free Free Free
Check and Statement Copies Up to 10 Copies of each per year Low Fee Low Fee Free Free
Excessive Research and Balancing Assistance Low Fee Low Fee Free Free
Assisted Transfers or Balance Inquiries Low Fee Low Fee Free Free
History Printout Low Fee Low Fee Free Free
ACH Origination (One-Time) Low Fee Low Fee Low Fee Free
Over Five Non-Summit ATM Transactions in a Month Low Fee Low Fee Low Fee Free
Non-Sufficient Funds Fee (Check or ACH Returned – excluding Overdraft Privilege) Low Fee Low Fee Low Fee Free
Stop Payment By Check or ACH Low Fee Low Fee Low Fee Free
Checking Printing No cost Senior Club checks also available Low Fee Low Fee Low Fee Free2
Counter Checks Maximum of eight checks Low Fee Low Fee Low Fee Free
Cash or Deposit of Non-Member Third-Party Checks Low Fee Low Fee Low Fee Free
Debit/Credit Card or PIN Replacement Low Fee Low Fee Low Fee Free

1 One free per day
2 Available upon request