Sort your money by when you will need it
All six deposit accounts, side by side
Every account below is federally insured by NCUA and carries no monthly service fee.
Rates current as of July 2026 and subject to change. Money Market, Business Savings, and certificate rates vary by balance tier or term; see each product page for the full schedule. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Savings out-earns the Money Market below $250,000 and we will say so on our own page
Nobody at Summit is paid on which deposit account you pick. The Money Market exists for check access and for very large balances, not because it beats 4.15% APY for a typical household. Read the second table before you choose.
How you get to the money, account by account
The second half of the decision: what each account lets you do in a given month.
Terms current as of July 2026 and subject to change. Transfer limits apply to online and pre-authorized transfers only. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Choosing between them
Which account should I open first?
High-Yield Savings. The $5 membership share deposit goes in when you join anyway, and the account earns 4.15% APY from the first day. Add Free Checking whenever you are ready to move your direct deposit over.
Can I hold several of these at once?
Yes, with no limit on how many. A common household setup is checking, savings, and two or three certificates at different maturities, all under one membership and one login.
Do I need a business membership for the business accounts?
Yes. Business Checking and Business Savings sit under a separate business membership with its own $100 opening deposit, signer documentation, and tax identification number. Our business team handles the setup.
Is there a penalty for closing an account?
Only on share certificates, where closing early costs 90 or 180 days of dividends depending on the term. Checking, savings, money market, and business deposit accounts can be closed on any business day at no cost.
Do I have to keep the $5 share deposit?
Yes, for as long as you are a member. It is your ownership stake in a credit union owned by its 412,000 members, and it comes back to you if you ever close the membership entirely.
How long does it take to open a second account?
About four minutes inside online banking, because we already have your identification on file. New certificates and money market accounts fund instantly from an existing Summit balance.
Still deciding? Ask a person.
Tell us what the money is for and we will tell you which account we would use. Call 800.555.7846 or stop into any branch.