Summit Credit Union members earn a Cash Boomerang
MADISON, WI (November 4, 2024) — Summit Credit Union, a member-owned financial cooperative, announced its member give-back called Cash Boomerang, of $2.5 million to its members. The giveback is based on the cooperative’s financial success and on members’ use of Summit’s checking, savings and borrowing services, as well as their length of membership.
Through this patronage dividend program, Summit will provide a cash payout to 77,311 members. Now in its 11th year, Cash Boomerang has paid out $24.8 million to qualified members.
“Our success is our members’ success,” said Kim Sponem, Summit Credit Union CEO and President. “The more business our members do with us, the better we do as their financial cooperative and the more our members get back in a Cash Boomerang.”
Sponem shared that the timing of the payout prior to the holiday season is intentional. “Members may opt to do something fun and festive with their Cash Boomerang or it may give them a bit of cushion to relieve some financial stress this time of year.”
Qualifying members can redeem their cash payout via online or mobile banking, and deposit it into any Summit account they choose. Cash Boomerang payouts not claimed are deposited into members’ accounts in early December.
For more information about Cash Boomerang, visit SummitCreditUnion.com/CashBoomerang or call 608-243-5000 or 800-236-5560.
About Summit Credit Union (WI)
Established in 1935, Summit Credit Union is a member-owned financial cooperative. Summit holds $7.4 billion in assets and has more than 263,700 members and 921 employees across 60 locations throughout Wisconsin. Since 2002, Kim Sponem has been CEO & President of Summit Credit Union, formerly known as CUNA Credit Union/Great Wisconsin Credit Union.
In 2024, Summit was recognized for continued excellence in employee engagement as a Top Workplace USA by USA Today for the fourth consecutive year and a Top Workplace in the Madison area by the Wisconsin State Journal the fifth year in a row. The Milwaukee Journal Sentinel named Summit a Top Workplace in Milwaukee in both 2023 and 2024. Additionally, and representative of its focus on financial education, Summit received the Governor’s Financial Literacy Award in 2010, 2014, and 2016 and the Governor’s Financial Literacy Award – Legacy in 2019.
For additional media information, visit summitcreditunion.com/about-summit/press-room or follow Summit on Facebook and Instagram.
