Deposit Products
What minimum balance is required to open an Assured Checking Account?
$50.00 to open (no monthly minimum balance)
Is a personal line of credit a variable rate or fixed rate?
Variable rate
- The prime rate plus 4%
What does MRC stand for?
Mechanical Repair Coverage
Which credit card requires a minimum $5,000 limit to qualify?
CashPerks Credit Card
What are the qualifications to access Summit's mobile app?
NONE(; anyone who has a Summit membership and is enrolled in online banking can use the mobile app!
How long does a Student Checking account remain before converting to a Free Checking Account?
6 years
- After 6 years the account will change to a free checking. If the member is still a student they can contact us and we can switch it to student checking for another 6 years.
Which one of the three home equity loan/lines has fixed rates?
Home Equity Loan
When would you not recommend GAP?
Low loan to value
Which Summit credit card has an annual fee?
NONE(;
How long does it take to receive money sent with Zelle?
What share other than a checking account can you have checks for?
Money Market Plus
DID YOU KNOW Money Market Plus checks are free?
What is the maximum loan amount for an Express Refinance?
$399,999.00
If a member has payment protection and they need to file a Life, Disability or Unemployment claim, how do they do that?
Effective 2/22/2021 members file claims on their own through the homepage of our website.
What is the age range to qualify for the Student Rewards credit card?
18-27 years old
What service does Summit offer to members to make payments online if they don't have a debit card?
Bill Payer
How much is the Balance Account monthly fee? Name both ways the fee can be waived.
$5.00 monthly fee
Waived
- 10 or more debit card purchases per month and has either Student Loan or Student Credit Card with Summit
- Under the age or 18
Does Summit offer loans to members under the age of 18? Are they required to have a co-signer?
YES - Auto loans
- must be at least 16 years old
- parent/legal guardian as co-signer
- Maximum loan amount is $15,000
- Co-signer has to qualify for the loan on their own
What is the GAP Maximum Vehicle Age? What if the vehicle exceeds that age during the life of the loan?
Maximum vehicle age is 20 years. If the vehicle exceeds 20 years during the life of the loan, the vehicle will still be covered for the life of the loan.
Which credit card earns double points on Gas purchases and purchases at Wholesale Clubs?
Platinum Rewards credit card
What online service does Summit offer to track and manage your finances?
Climbr
To qualify for Ultimate Checking you need $60,000 in combined deposit and loan balances OR 6+ qualifying services. Name 6 qualifying services.
Savings - Primary, Secondary, Go Save, Holiday, IRA
Checking with debit card
Money Market
Certificates
1st Mortgage
Credit Card
Home Equity Loan or HELOC
Consumer Loan or LOC
Member for 15+ years
E-Statements
What 6 types of collateral can be used for secured loans at Summit?
campers, RVs, boats, ATVs, snowmobiles and personal watercrafts
What is Chris's favorite color?
Red
Which credit card has a variable rate and which credit card has the lowest fixed rate? BONUS: Do you know what that rate is as low as?
The CashPerks credit card has a variable rate
The Platinum credit card has the lowest fixed rate
BONUS: The Platinum credit card interest rate is as low as 9.9% if you got that right you get a high five from Chris!
There is a fee to receive a wire transfer into your Summit account. How much is that fee?
Incoming Wire Transfer Fee: $15.00