Investments and Insurance

Investment Accounts

Members can cash Series E, Series EE and Series I savings bonds at any of our full service .

Note: The minimum term of ownership for cashing bonds is 1 year. The interest-earning period for bonds is 30 years.

Savings Bonds are no longer sold at financial institutions. You can purchase them directly through the .

Individual Retirement Accounts (IRAs)

Contributions to your Summit IRA, ESA or HSA can be made online through our . Select "Contribute to Your IRA" to get started or stop into any of our to complete the contribution.

Yes! Your 401K can be rolled into a Summit IRA account. Roth and Traditional IRAs can be opened through our on our website.

Individual Retirement Accounts are an important part of planning for your future financial well-being. These types of accounts offer tax advantages and there are two primary categories of IRAs:

Traditional
Roth

Traditional IRAs boast tax-deductible contributions, which means taxes are not paid on deposits until you begin to make withdrawals. The investments grow tax-deferred.

Alternatively, contributions to a Roth IRA are not tax-deductible. As a result, they are tax-free upon distribution. Your earnings in these types of accounts also grow tax-deferred, so income taxes on the investment earnings are not paid until withdrawals are made.

To open an account online visit our page.

You can open an account in person with one of our knowledgeable staff members by appointment. today!

We offer both Traditional and Roth IRAs.

Traditional IRAs boast tax-deductible contributions which means taxes are not paid on deposits until you begin to make withdrawals. The investments grow tax-deferred.

On the other hand, contributions to a Roth IRA are not tax-deductible. As a result, they are tax-free upon distribution. Your earnings in these types of accounts also grow tax-deferred, so income taxes on the investment earnings are not paid until withdrawals are made.

To open an account online visit our page.

You can open an account in person with one of our knowledgeable staff members by appointment. today!

Your beneficiaries will be notified and remaining funds will be distributed accordingly.

To add or modify your IRA beneficiary(ies), please or for assistance.

General Insurance

We offer the following insurance products to safeguard more than just your money:

Visit one of our or today!

Auto Insurance

We allow for the proof of auto insurance to be sent either by email, fax, or by mail.

For email please send to: summitcreditunion@myloaninsurance.com

For fax, please fax to: 877-256-8604

For mail, please mail to:
Summit Credit Union
Insurance Tracking Center
P.O. BOX 924482
Fort Worth, TX 76124

Note: Please make sure that you are sending in the declaration page of your insurance rather than the insurance card.

Borrowers are required to obtain adequate insurance coverage and provide the credit union with proof. To qualify as proper proof of insurance your policy or declaration page must include the following:

Name of Borrower
Summit Credit Union listed as the lien holder/loss payee, Lien holder Address only:

Summit Credit Union
Insurance Tracking Center
P.O. BOX 924482
Fort Worth, TX 76124

3. Collision Coverage (Maximum $1000 deductible)
4. Comprehensive Coverage (Maximum $1000 deductible)
5. Proper Vehicle Information - Year, Make, Model, VIN
6. Policy Effective Dates - The policy must remain in effect from the open date of the loan until the loan is paid in full.

Note: In the event that you switch insurance providers during the term of your loan, the above information must be resubmitted to Summit Credit Union from your new insurance provider.

Homeowners Insurance

You can request to have your Private Mortgage Insurance (PMI) stopped once the mortgage balance is less than 80% of the value of the home. The request must be made in writing through our Mortgage Servicing department.

If you change insurance companies, please and provide the new company information.

Yes, we will require proof of insurance.