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In Wisconsin

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Description

This company is a credit union that is member-owned, not-for-profit financial cooperative headquartered in Madison, Wisconsin. Services offered include savings and checking, loans, mortgages, business services, investments, E-banking, and financial education. The services are also intended to support community development and financial and environmental sustainability.

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Summit Credit Union meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that raised the rating for Summit Credit Union include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 6 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.


Customer Complaints Summary Read complaint details

6 complaints closed with BBB in last 3 years | 3 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 3
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 3
Total Closed Complaints 6

Customer Reviews Summary Read customer reviews

4 Customer Reviews on Summit Credit Union
Customer Experience Total Customer Reviews
Positive Experience 1
Neutral Experience 1
Negative Experience 2
Total Customer Reviews 4

Additional Information

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BBB file opened: January 01, 1964 Business started: 01/01/1931 in WI Business started locally: 01/01/1931 Business incorporated: 01/01/1935 in WI
Licensing

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Wisconsin Dept of Financial Institutions
345 W Washington Ave, Madison WI 53703
http://www.wdfi.org
Phone Number: (608) 261-9555
Fax Number: (608) 261-7200
askthesecretary@dfi.state.wi.us

Nationwide Mortgage Licensing System
Wisconsin Department of Financial Institutions, 345 W. Washington Avenue, 4th Floor, Madison WI 53703
http://www.nmlsconsumeraccess.org
Phone Number: 608-261-7578
DFIMortgageBanking@wisconsin.gov

Securities & Exchange Comm.
450 5th Street N.W., Washington, DC 20549
Phone Number: (202) 942-7040

Type of Entity

Corporation

Business Management
Ms. Kim Sponem, CEO/President Mr. Mike Bunge, Senior VP Business and Community Development Mr. Rebecca Gerothanas, Senior VP Marketing and Operations Ms. Teena Hernandez, Executive Assistant to the CEO Mr. Ric Mathias, Vice President - Retail Mr. Dan Milbrandt, Chief Lending Officer Ms. Denise O'Hara, Senior VP Human Resources and Organizational Development Mr. Keith Peterson, Chief Financial Officer
Contact Information
Customer Contact: Ms. Teena Hernandez, Executive Assistant to the CEO
Principal: Ms. Kim Sponem, CEO/President
Business Category

Credit Unions Investment Advisory Service Loans Loans - Small Business Consumer Finance & Loan Companies Real Estate Loans Mutual Funds Retirement Planning Service Savings & Loan Associations Credit - Debt Consolidation Services Credit Services Financial Services Credit & Debt Counseling College Savings Plans Credit Cards & Plans

Products & Services

Summit Credit Union offers the following product(s): Pay It Forward, Do MoreTeam, Project Money, Oodles

Hours of Operation
Branch hours vary by location.
Service Area
Greater Madison, Greater Milwaukee, Baraboo, Beaver Dam, Lake Mills, Portage
Alternate Business Names
Cuna Credit Union Great Wisconsin CU Journal Credit Union State Capitol Credit Union State Capitol Employees CU State Central Credit Union
Industry Tips
Advanced Fee Loan Scams Advice Credit Card Accountability, Responsibility and Disclosure (CARD) Act Credit Report-Understanding Your Credit Report Tips for Choosing College Savings

Additional Locations

  • 10015 W Greenfield Ave

    Milwaukee, WI 53214 (414) 778-1000

  • 104 Frances Lane

    Beaver Dam, WI 53916 (608) 243-5000

  • 110 Henry Dr

    Portage, WI 53901 (608) 243-5000

  • 1333 W Main St

    Madison, WI 53590 (608) 243-5000

  • 141 E Tyranena Park Rd.

    Lake Mills, WI 53551 (608) 243-5000

  • 1700 Windsor St

    Madison, WI 53590 (608) 243-5000

  • 1799 Thierer Rd

    Madison, WI 53704 (608) 243-5000

  • 2001 Taft St

    Madison, WI 53713 (608) 243-5000

  • 2140D W Saint Paul Ave., Fox Run Center

    Waukesha, WI 53188 (414) 778-1000

  • 2159 Miller Park Way

    West Milwaukee, WI 53219 (414) 778-1000

  • 2424 Rimrock Rd

    Madison, WI 53713 (608) 243-5000

  • 2939 S Fish Hatchery Rd.

    Fitchburg, WI 53711 (608) 243-5000

  • 304 E Main St

    Waunakee, WI 53597 (608) 243-5000

  • 307 E Wilson St.

    Madison, WI 53703 (608) 243-5000

  • 401 S Yellowstone Dr.

    Madison, WI 53719 (608) 243-5000

  • 4800 American Pkwy

    Madison, WI 53718 (800) 236-5560 (608) 243-5000

  • 4802 Sheboygan Ave.  Room 150B

    Madison, WI 53705 (608) 243-5000

  • 5419 Blue Bill Park Dr

    Madison, WI 53704 (608) 243-5000

  • 5810 Mineral Point Rd.

    Madison, WI 53705 (608) 243-5000

  • 6420 Cottage Grove Rd.

    Madison, WI 53718 (608) 243-5000

  • 645 Junction Rd.

    Madison, WI 53717 (608) 243-5000

  • 670 W Washington Ave.

    Madison, WI 53703 (608) 243-5000

  • 6914 W Brown Deer Rd

    Milwaukee, WI 53223 (414) 778-1000

  • 702 Pflaum Rd

    Madison, WI 53716 (608) 243-5000

  • 871 Commerce Ave.

    Baraboo, WI 53913 (608) 243-5000

  • 1
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Professional AffiliationsX
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Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

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BBB Complaint Process

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Additional Phone Numbers

  • (800) 236-5560(Phone)
  • (608) 243-5011 (Fax)
  • (608) 243-5030 (Fax)
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Additional Email Addresses

  • - Communication/Mass Email
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Complaint Detail(s)

7/6/2014 Problems with Product/Service
4/16/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Summit sells a VISA Gift Card with expiration dates printed on the cards. VISA will take $5/mo as fee starting at 12th month of gift card. Receivers of gift card do not search for at the extra fee notice, as expiration date is misleading recipient into thinking all is well until expiration date (in our case, 2017) We asked Summit for help in getting a $100 card reissued or for suggestions on how to get help from VISA. They had no suggestions and yes, the card is now of no value. VISA sent us to Summit. Summit has no help, sent us to call VISA. SUMMIT stills sells these cards with misleading information. VISA is perhaps more than fault than SUMMIT, but VISA did suggest we ask for help from them.

Desired Settlement: Repalcement of gift at original amount on a new card or refund for the amount of the gift card. IF THE GIVER had put $100 bill in the graduation card (UW student and employee) the cash would still be good. The card should still represent the full amount until said expiration date.

Business Response:

The gift card was given as a gift and the recipient did not receive the disclosures which explain the inactive fee that is charged.   For goodwill, we will be sending a new card with disclosures.  

Consumer Response:

On Tue, Apr 15, 2014 at 10:09 PM, ***** ********* ****************** wrote:

The resolution as proposed by the Summit Credit Union would be acceptable.  Thanks for your effort in this matter.
Respectfully,
***** *********
**** ***** ***** *** ****** ***  *****
This address can be where the card can be sent.  ****** currently is job looking out of this address.

 

 

 

BBB's Final Determination: Consumer accepted resolution offered by the business.

8/26/2013 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: I called and informed Summit of my losing my job and that I would pay my loan as soon as I could. I played phone tag with a ***** at extension **** numerous times with her waiting a week or more to call back. They stated that they sent a letter on 7/25 with the information about repossessing my car. I never got the letter. The last phone call I had was 8/6/13 from *****. Today my car was repossessed. I called to see what I could do to get it back seeing as how I could pay on Friday the amount. I have been very upfront about the job loss with Summit I have dealt with many nice people however ***** and ***** are two of the worse employees I have ever dealt with. I can pay my 3 late payments and the fees to get my car. I cant however come up with 12,000.00 (estimation since I couldn't be told what was owed). ***** questioned why I would want to do a law suit against your company. I did not just not pay my loan because I did not want to. I tried to keep in touch as much as I could. I took a part time job to help pay it back. I need my vehicle because now I can't work. I want to know why I cant pay the late part of my payments and get my car back.

Desired Settlement: Please contact me back and explain the details of this to me.

Business Response:

August 14, 2013

BBB of Wisconsin

Attn: ******* **********

***** * ********** ***

Milwaukee, WI 53214

Re: Complaint #*******

Dear Mr. **********:

Thank you for bringing this matter to our attention.

I have reviewed and researched the complaint made by our member ****** ***********. Please see the attached correspondence and documented communications with the member that supports our actions. 

We repossessed the vehicle in *******, therefore ******* law prevails. Per statutes ******* section (3) of ******* law, any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor

With that being said, to protect the credit union and the best interest of all our members, our policy remains that for vehicles repossessed outside the state of Wisconsin the member may redeem the vehicle by paying the debt off in full plus any expenses incurred. The amount to get the vehicle back good through 08.28.13 is $11,587.36 (this includes $500 repo fee)

If payment is not received by August 28, 2013 we’ll consider the matter closed.

Sincerely,

**** ****

*** ***********

CC: ****** ***********

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved

4/19/2013 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: i paid a loan off 7 years ago and they are still reporting that it is owed. i had SCU send my bank a letter saying it was paid off in full in 2006 but they still report it as owed

Desired Settlement: I think they should have to pay a settlement for reporting for so long and hurting my credit......

Business Response:

BBB of Wisconsin

Attn: ******* **********

Re: Complaint # *******

Dear Mr. **********,

Thank you for bringing this matter to our attention.

We have reviewed and researched the complaint made by our member ***** *****.  The credit bureaus were inaccurately reporting a balance owing of $548.00  for the  Summit Credit Union loan for a 2005 ****** *** ******  which was  opened 02/05/2005 in the amount of $7,396.00 and was  paid off on  04/22/2011.

Knowing this, on 04/01/13 we promptly submitted corrections to the credit bureaus to reflect a  balance owing of $0.00. We have confirmed all 3 credit bureaus are now reporting accurately a balance owing of $0.00 on the above stated loan.

At this time, we feel no further action is needed and we consider this matter closed.

Best Regards,

**** ****

**** **** | *** ***********| Summit Credit Union
**** ******* ****, ******* **  *****
###-###-#### (ph.) | ###-###-#### (fax)
SummitCreditUnion.com

Do more. Start here.

 

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved

12/11/2012 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: I had purchased a 2011 KIA Soul Plus. The agent had stated I needed to fax in prof of car insurance. The Agent didn't specify any details about coverage. I received a letter in the mail stating that they had not received my car insurance info. Concerned I went into the bank in person and had a copy of my insurance card copied to a specific employee. The employee had stated the the card wasn't all they needed, so I proceeded to have my car insurance carrier fax my information over. My bank didn't contact me any further, so I had thought the matter had been handled. This was not the case! In the near future I received a letter stated that a insurance provider had been added to my vehicle supplied by summit because of lack there of my own personal car insurance coverage on the vehicle, and added it to my loan. The bank made a mistake in applying additional car insurance to my vehicle. My coverage wasn't to there requirements in detail but they charged me 372.00 when I pay 77.00 dollars a month for my coverage. The difference would be only be 64 dollars. I was Paying two insurance companies at once. The amount added to my loan also built interest based on this added amount, since the date it was added.

Desired Settlement: I would like the excess amount removed form my loan and the interest it ad since the date it was put on removed. I'm more then willing to pay the difference but not pay two insurance company at once for almost the same coverage.

Business Response: August 29, 2012
BBB of Wisconsin
Attn: ******** ******** ***** **** ********** **** **** *** ********** ** *****
Re: Complaint # *******
Dear ********:
* ****** ****** *****
Mr. ***** ***** obtained his auto loan from Summit Credit union on March 12,2012. Summit Credit
Union provided Mr. ***** a letter that same day indicating the insurance requirements for the loan. r
have included a copy of the letter which clearly states that Collision and Comprehensive coverage was
required for the loan. The letter also indicated that Summit Credit Union needed to be listed as the lien
holder on the insurance policy.
On April 10, 2012 another letter was sent to Mr. ***** indicating that we did not have a copy of his
insurance policy yet and instructions regarding our requirements were again outlined in the letter. The
letter also provided instructions on how the member could provide that proof of adequate insurance
coverage.
On April 24, 2012 another letter was sent to Mr. ***** indicating that we did not have a copy of his
insurance policy yet and instructions regarding our requirements were again outlined in the letter. It
was also indicated at that time that Summit Credit union may purchase insurance and also indicated the
cost of that insurance if we did not receive proof that he had adequate coverage.
On May 9, 2012 Summit Credit Union purchased insurance coverage for the vehicle and added the
premium to the loan. A copy of the insurance coverage was provided to the member along with a letter
explaining the extent of the coverage and a phone number for him to call with any questions.
On Mav 14, 2012 we attempted to reach Mr. ***** by phone. We were unsuccessful but did leave a
message for him to contact us.
On June 9, 2012 the member contacted our branch regarding the insurance. He advised us that he had
provided us with a copy of his insurance card. We advised him that we did not have the information
required.
On June 11th Mr. ***** contacted us regarding the insurance. We advised him again that we needed to
be listed on the policy as lien holder and that comprehensive insurance was required. We advised him
that he would be responsible for any premium that accrued as a result of any lapse in coverage. He
advised us that he would have his agent call and verify the coverage.
On June 22, 2012 we received notice that the proper insurance coverage had been placed on the vehicle
effective June 10, 2012. A prorated refund of the premium was made and applied to the loan. Mr.
***** requested that the payment be reduced to the original payment amount and that the $372.00
earned premium be added to the end of the loan. Although this is not our normal practice we agreed to
this arrangement as a gesture of good will to Mr. ***** as the added premium to his payments would
cause a hardship.
We feel that we provided adequate notice of the insurance requirements, adequate notice of the
consequences of not providing the proper proof of coverage and made an exception to our normal
practice of requiring repayment of the cost of the insurance we placed on the vehicle.
Given the amount of correspondence regarding this matter and the subsequent actions on the part of
Summit Credit Union we do not feel that further action is required on our part. We consider the matter
closed.
Sincerely
*** *** *********** *** ***** *****

Consumer Response:

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

[To assist us in bringing this matter to a close, we would like to know your view on the matter.]

Regards,

***** *****

I was paying for insurance  through my provider that lacked comprehensive coverage, I understand that.  My issue is that I shouldn't have to pay the full amount of a hole other insurance companies coverage when all that my coverage was lacking is comprehensive.  After I added comprehensive, my insurance went up a small amount.  There insurance provider billed me as if I was only covered by them the hole time I had purchased the vehicle, not crediting me for the coverage  I was paying for by my provider that only lacked comprehensive.

Business Response:

December 6, 2012

 

BBB of Wisconsin

Attn:

******** ******** ***** **** ********** *** *** ***

Milwaukee, WI 53214

 

Re: Complaint # ******

 

Dear ********:

 

First of all, Summit Credit Union apologizes for the delay in response. We value our members and we appreciate Mr. *****’ position.

 

As stated in our previous correspondence dated 08.29.12:

·         Summit Credit Union provided adequate notice of insurance requirements

·         Summit Credit Union provided adequate notice of the consequences for not providing the proper proof of coverage.

·         Summit Credit Union purchased proper insurance coverage and the net charge of $372.00 was passed onto the member.

·         Summit Credit Union made an exception to our normal policy for Mr. ***** and allowed the premium to be added to the end of the loan.

 

With that being said, we feel no further action needs to be taken and we consider the matter closed.

 

 

Sincerely,

 

 

 

**** ****

AVP Collections

CC: ***** *****

Consumer Response:

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

[To assist us in bringing this matter to a close, we would like to know your view on the matter.]

Regards,

***** *****

The issue is that I had coverage but I know that it wasn't up to requirements.  My issue was that I was paying my insurance carrier for coverage that lack some requirements but at the same time summit second party carrier charge a full amount of coverage for the period the vehicle wasn't totally covered.  That means I was paying two insurance companies at once for almost the same coverage.  There should be some kind of deduction for the coverage I was carrying at the time, that would apply so that I would not be double insuring my vehicle because of a couple minor requirements.

BBB's Final Determination: After reviewing the position of all parties, BBB determined that the business made a reasonable effort to address the complaint. However the consumer remains dissatisfied.

9/6/2011 Problems with Product/Service
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