Investment Services – Summit Credit Union

The three conversations members book most

Investment and insurance products are NOT NCUA insured, may lose value, and are not guaranteed by Summit Credit Union

They are not deposits, not obligations of the credit union, and not insured by any federal government agency. You can lose the money you invest, including your principal. Securities are offered through an independent third-party broker-dealer; advisors are registered representatives of that firm, not employees of Summit. Your share savings, checking, money market, and certificate balances are a separate matter and remain federally insured to at least $250,000 per depositor for each ownership category.

Planning services

What an advisor can help you build

The first meeting is arithmetic, not a product pitch.

Retirement income planning A projection of what your current savings rate produces at your target retirement age, including Social Security claiming age and a realistic monthly spend. Traditional and Roth IRAs, SEP and SIMPLE IRAs for the self-employed, and income annuities are all on the table.

Rollover comparison When you leave a job you have four choices: leave it, move it to the new plan, roll it to an IRA, or cash out. Bring the old plan's fee disclosure and the side-by-side takes about fifteen minutes. Staying put is often the cheaper answer.

Education funding 529 plans, Coverdell accounts, and plain taxable savings behave differently for taxes and financial aid. Eleven years out, the 529 usually wins. Two years out, a guaranteed rate in high-yield savings is frequently the better fit.

Portfolio review An annual look at what you hold, what it costs, and whether the mix still matches your timeline. Members with accounts held elsewhere can have them reviewed without moving anything.

Insurance and income protection Term life, disability income, and long-term care needs analysis based on your dependants and outstanding debt, including any Summit mortgage balance. Coverage is optional and never a condition of any loan or account.

Beneficiary and estate coordination A review of beneficiary designations across retirement accounts and deposit accounts, since those override a will. Advisors coordinate with your attorney or accountant; Summit does not provide legal or tax advice.

Fee approach

How you pay, stated before you sign anything

Every recommendation comes with a written summary of what it costs and how the advisor is compensated.

Service How it is charged Illustrative range

First consultation No charge to members One hour, in branch or by video, with a written summary either way.

Written financial plan Flat fee $400 to $1,500 depending on complexity, quoted before work begins.

Managed portfolio Annual percentage of assets 0.60% to 1.05% a year, billed quarterly and shown on every statement.

Mutual fund purchase Sales charge plus fund expenses Up to 4.50% front-end; breakpoints reduce it at higher amounts.

Annuity contract Commission paid by the insurer Disclosed in writing, along with the surrender charge schedule.

529 education plan Underlying fund expenses 0.15% to 0.85% a year depending on the investment option chosen.

Rollover review No charge Includes the fee comparison against your existing employer plan.

Annual check-in Included with managed accounts Available on request for plan-only clients at no additional fee.

Who this suits, and who should wait

Investing tends to make sense once three things are true: your income is steady, you hold three to six months of expenses in cash, and any balance above about 12 percent interest is gone. Members who fit that description and have a goal five or more years out are usually well served by an advisor conversation. So are people approaching retirement who want a withdrawal sequence rather than a guess, and self-employed members with no workplace plan at all.

If the money is a house deposit for next spring, or the emergency fund is not built yet, an advisor here will tell you to keep it in an insured account and come back later. That is not a brush-off; it is the honest answer for a short horizon. Start with high-yield savings, clear expensive debt with a consolidation loan if it lowers your rate, and use our money basics guides in the meantime. There is no minimum balance required to book an appointment, and no one will chase you afterwards.

Common questions

Before you book

Is any of this covered by NCUA share insurance?

No. Investment and insurance products are not deposits, are not NCUA insured, are not guaranteed by Summit Credit Union, and may lose value, including loss of principal. Only your deposit accounts carry federal share insurance. That distinction matters most when moving money out of a certificate into a fund, because the rate stops being guaranteed.

Who actually employs the advisor I meet?

Advisors are registered representatives of an independent third-party broker-dealer that provides securities services at our branches. They are not employees of the credit union, and Summit does not guarantee their recommendations. Their licensing and disciplinary history is public and they will hand you their firm's disclosure brochure at the first meeting.

Do I have to move my accounts to Summit to get advice?

No. Members regularly bring statements from accounts held elsewhere for a second opinion and leave everything where it is. The advantage of consolidating is a single view of the picture, including your mortgage and certificates, so recommendations account for debt you already carry.

What should I bring to the first meeting?

Your most recent retirement account statements, a rough figure for monthly spending, any pension or Social Security estimate, and the fee disclosure from an old employer plan if a rollover is the topic. An hour is usually enough, and you leave with a written summary whether or not you open anything.

Can I take my money back out if I change my mind?

It depends on the product. Mutual funds and brokerage holdings can generally be sold on any business day at that day's price, which may be less than you paid. Annuities often carry surrender charges for a set number of years, and that schedule is disclosed in writing before you sign.

Does Summit give tax or legal advice?

No. Advisors will flag the tax consequences worth discussing, such as the difference between Roth and traditional contributions, but the credit union and its representatives do not provide tax or legal advice. Talk to a qualified tax professional or attorney about your specific situation.

One hour, no cost, no obligation

Book at any of our 42 branches or by video, or call 800.555.7846 to be matched with an advisor.

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This is a demonstration website; rates, products, and figures shown are illustrative only.