FAQs

Other Helpful Links

 

What if I'm not near a Summit Credit Union Branch?

As a member you have access to your funds 24-Hours a day through convenient services such as Mobile App 24, Home Banking 24, and Mobile Deposit. You can also complete transactions at any nationwide CO-OP Shared Branch and ATMs. Visit our Locations, Hours, and ATMs page to find locations near you.

Back to Top

What is the difference between a credit union and a bank?

It may seem that credit unions and banks offer the same products and services upon first glance. However, under the surface they are very different. The primary difference between a credit union and a bank is their tax status. A bank is a for profit organization, while a credit union is not-for-profit. When you have an account through a credit union, you become a "member" which essentially makes you an owner with voting privileges. Members vote on volunteers for the board of director usually on annual bases. Whereas with banks, ownership lies with shareholders and the institution is governed by a paid board of directors. Because credit unions don't have to answer to shareholders and are not-for-profit, profits are returned to members in the form of dividends, better loan rates and fewer fees.

Back to Top

What is Summit Credit Union's ABA or 'routing and transit' number?

The ABA or routing and transit number is 253176118. This is the number you will need to give someone you have authorized to send direct deposits or drafts to your account.

Back to Top

How can I update my account information?      

To update your address please log into Home Banking 24 and select "Change Address" under the "User Options" tab or return a signed copy of the Change of Address Form. To add a joint owner, change your name, or remove a joint owner please return a signed copy of the Account Update Form.

Back to Top

How can I wire funds to and from my credit union account?

The cost to send a wire transfer is only $15.00 in the US and $35.00 for international wires.

To make a wire transfer, contact a Member Service Representative at 336-662-6200 or 800-632-0210 with the following details:

  1. Receiving Institution's name and ABA routing number
  2. Receiving person's name and account number
  3. Other relevant information if necessary

Wire transfers are usually completed by 3:00 pm daily. Requests for transfers after 3:00 pm cannot be completed until the following day.

There is NO CHARGE to wire funds from another financial institution to your Summit Credit Union account. Funds may be wired to your account by providing the financial institution wiring your funds the following information:

Name: Catalyst Corporate Federal Credit Union
City: 6801 Parkwood Blvd. Plano, TX 75024
ABA Routing Number: 311990511
Name of Beneificiary: Summit Credit Union
Account Number: 253176118
For Further Credit: Member Name
Member Account Number and Suffix

For International wire transfers into and out of your account, please contact our Member Service Call Center to assist you at 336-662-6200 or 800-632-0210.

Back to Top

Why do I need a savings account with the credit union?

Your $5.00 on deposit in your savings account means you own one share of the Credit Union and are a part owner with full voting rights. Once you are a member/owner, you are eligible to take advantage of the other services available at the credit union. If your savings balance falls below the $5.00 requirement, you will need to make a deposit to bring the balance back to $5.00 to maintain your membership.

Back to Top

How Can I Locate my Account or Member Number?

When you opened your account, you were assigned 7-digit account number. You should have received a member card at opening that included your 7- digit account number. For security reasons, your account number is not printed on your statements. Please see the example below. If you have further questions regarding your account number, please contact our Members Service Call Center.

Back to Top

What is an account Suffix?

At Summit Credit Union you are assigned one account number with subaccounts for each type of account you hold. Each separate subaccount is assigned a unique suffix based on type of account.

Account Type Suffix Account Type Suffix
Savings 00 Regular & IRA Certificates 20-59
Special Savings 60-69 Money Market 70-75
Christmas Club 80-82 Loans 01-19
Checking 90-99 Visa Credit Cards 50-53

Back to Top

Does my checking account number appear on my checks?

Checking accounts have a 10-digit account number used when setting up automatic deposits or withdrawals. This 10-digit checking account number can be found on your checks immediately following the 9-digit routing number.

You can also find your full MICR number by logging into Home Banking 24 and select Direct Deposit Information under the Services tab. 

Back to Top

How do I reorder checks?

You can reorder checks by logging into Home Banking 24 and choosing Reorder Checks under the Services tab. If you wish to reorder checks outside of Home Banking 24, you can order directly from Deluxe Website. Ordering checks outside of Home Banking 24 does not guarantee any discounts received through your My CU Club status.

Back to Top

Do I need to bring my ID each time I make a transaction?

In order to protect your money and account information, our tellers are instructed to ask for a valid picture ID. While some tellers may come to know you, and therefore not ask for ID, others tellers may be new or may not know you and ask for identification.

Back to Top

How can I stop the credit union from mailing me information?

To stop mailings simply call our Member Service Call Center and request to be removed for our mailing list. This will not stop your monthly statements from being mailed to the designated mailing address on file.

Back to Top

What do I do if I have a discrepancy on my account?

If you have a discrepancy on your account from a merchant, please contact the merchant or company regarding the charge. If you cannot get the issue resolved through the merchant, please contact our Member Service Call Center. However, if you have suspicious or fraudulent transactions on your account, please contact us immediately. You may be asked to fill out a Card Dispute Form

Back to Top

Why do I have a $3.00 fee on my savings account?

Savings accounts are non-transactional accounts. We allow three transactions from your savings account per month at no cost. For each additional transaction, there is a $3.00 fee charged to the account. This fee is not charged on transfer for overdraft protection.

Back to Top

Why doesn't my debit card work?

The following are the most common reasons your debit card may not work. If you have reached the daily maximum ATM or account withdrawal amounts, you do not have the funds available, your account is overdrawn, or if you are delinquent or overdrawn in any of your other Summit accounts.

Back to Top

Why can't I call a branch or an employee directly?

We have a call center to handle incoming calls. Branch staff primarily handles branch traffic. If you need to speak with to specific branch staff, a member of our Member Service Call Center can check their availability to handle your call.

Back to Top