SUMMIT CREDIT UNION has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan SUMMIT CREDIT UNION 401(K) PLAN AND TRUST
| Measure | Date | Value |
|---|
| 2025 : SUMMIT CREDIT UNION 401(K) PLAN AND TRUST 2025 401k financial data |
|---|
| Total expenses incurred by plan in this plan year | 2025-08-01 | 211790 |
| Net assets as of the end of the plan year | 2025-08-01 | 4435404 |
| Total assets as of the beginning of the plan year | 2025-08-01 | 3738967 |
| Value of plan covered by a fidelity bond | 2025-08-01 | 5000000 |
| Participant contributions to plan in this plan year | 2025-08-01 | 259325 |
| Value of participant loans at end of plan year | 2025-08-01 | 97577 |
| Other income to plan in this plan year | 2025-08-01 | 495775 |
| Plan net income in this plan year | 2025-08-01 | 696437 |
| Net assets as of the end of the plan year | 2025-08-01 | 4435404 |
| Net assets as of the beginning of the plan year | 2025-08-01 | 3738967 |
| Employer contributions to plan in this plan year | 2025-08-01 | 153127 |
| Expensese paid to adminstrative service provicers from plan in this plan year | 2025-08-01 | 23401 |
| 2024 : SUMMIT CREDIT UNION 401(K) PLAN AND TRUST 2024 401k financial data |
|---|
| Total expenses incurred by plan in this plan year | 2024-07-05 | 312686 |
| Net assets as of the end of the plan year | 2024-07-05 | 3738967 |
| Total assets as of the beginning of the plan year | 2024-07-05 | 3150902 |
| Value of plan covered by a fidelity bond | 2024-07-05 | 5000000 |
| Participant contributions to plan in this plan year | 2024-07-05 | 239687 |
| Value of participant loans at end of plan year | 2024-07-05 | 90991 |
| Other income to plan in this plan year | 2024-07-05 | 521944 |
| Plan net income in this plan year | 2024-07-05 | 588065 |
| Net assets as of the end of the plan year | 2024-07-05 | 3738967 |
| Net assets as of the beginning of the plan year | 2024-07-05 | 3150902 |
| Employer contributions to plan in this plan year | 2024-07-05 | 139120 |
| Expensese paid to adminstrative service provicers from plan in this plan year | 2024-07-05 | 18868 |
| 2022 : SUMMIT CREDIT UNION 401(K) PLAN AND TRUST 2022 401k financial data |
|---|
| Total unrealized appreciation/depreciation of assets | 2022-12-31 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-12-31 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-12-31 | $0 |
| Total income from all sources (including contributions) | 2022-12-31 | $-159,332 |
| Total loss/gain on sale of assets | 2022-12-31 | $0 |
| Total of all expenses incurred | 2022-12-31 | $632,729 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2022-12-31 | $613,472 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2022-12-31 | $385,243 |
| Value of total assets at end of year | 2022-12-31 | $3,150,902 |
| Value of total assets at beginning of year | 2022-12-31 | $3,942,963 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2022-12-31 | $19,257 |
| Total interest from all sources | 2022-12-31 | $8,085 |
| Total dividends received (eg from common stock, registered investment company shares) | 2022-12-31 | $93,499 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2022-12-31 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2022-12-31 | $93,499 |
| Was this plan covered by a fidelity bond | 2022-12-31 | Yes |
| Value of fidelity bond cover | 2022-12-31 | $5,000,000 |
| If this is an individual account plan, was there a blackout period | 2022-12-31 | No |
| Were there any nonexempt tranactions with any party-in-interest | 2022-12-31 | No |
| Contributions received from participants | 2022-12-31 | $249,732 |
| Participant contributions at end of year | 2022-12-31 | $73,192 |
| Participant contributions at beginning of year | 2022-12-31 | $107,400 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-12-31 | No |
| Value of net income/loss | 2022-12-31 | $-792,061 |
| Value of net assets at end of year (total assets less liabilities) | 2022-12-31 | $3,150,902 |
| Value of net assets at beginning of year (total assets less liabilities) | 2022-12-31 | $3,942,963 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2022-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2022-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2022-12-31 | No |
| Investment advisory and management fees | 2022-12-31 | $2,904 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2022-12-31 | $2,723,245 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2022-12-31 | $3,480,739 |
| Interest on participant loans | 2022-12-31 | $4,133 |
| Interest earned on other investments | 2022-12-31 | $3,952 |
| Value of funds held in insurance company general accounts (unallocated contracts) at end of year | 2022-12-31 | $354,465 |
| Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year | 2022-12-31 | $354,824 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2022-12-31 | $-646,159 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2022-12-31 | No |
| Was there a failure to transmit to the plan any participant contributions | 2022-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2022-12-31 | No |
| Contributions received in cash from employer | 2022-12-31 | $135,511 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2022-12-31 | $613,472 |
| Contract administrator fees | 2022-12-31 | $16,353 |
| Did the plan have assets held for investment | 2022-12-31 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2022-12-31 | No |
| Opinion of an independent qualified public accountant for this plan | 2022-12-31 | Unqualified |
| Accountancy firm name | 2022-12-31 | NEARMAN, MAYNARD & VALLEZ CPAS |
| Accountancy firm EIN | 2022-12-31 | 591906466 |
| Total expenses incurred by plan in this plan year | 2022-08-15 | 234312 |
| Net assets as of the end of the plan year | 2022-08-15 | 3942963 |
| Total assets as of the beginning of the plan year | 2022-08-15 | 3419075 |
| Value of plan covered by a fidelity bond | 2022-08-15 | 5000000 |
| Participant contributions to plan in this plan year | 2022-08-15 | 219802 |
| Value of participant loans at end of plan year | 2022-08-15 | 107400 |
| Other contributions to plan in this plan year | 2022-08-15 | 9756 |
| Other income to plan in this plan year | 2022-08-15 | 400609 |
| Plan net income in this plan year | 2022-08-15 | 523888 |
| Net assets as of the end of the plan year | 2022-08-15 | 3942963 |
| Net assets as of the beginning of the plan year | 2022-08-15 | 3419075 |
| Employer contributions to plan in this plan year | 2022-08-15 | 128033 |
| Expensese paid to adminstrative service provicers from plan in this plan year | 2022-08-15 | 27806 |
| Total unrealized appreciation/depreciation of assets | 2022-01-01 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-01-01 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-01-01 | $0 |
| Total income from all sources (including contributions) | 2022-01-01 | $-159,332 |
| Total loss/gain on sale of assets | 2022-01-01 | $0 |
| Total of all expenses incurred | 2022-01-01 | $632,729 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2022-01-01 | $613,472 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2022-01-01 | $385,243 |
| Value of total assets at end of year | 2022-01-01 | $3,150,902 |
| Value of total assets at beginning of year | 2022-01-01 | $3,942,963 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2022-01-01 | $19,257 |
| Total interest from all sources | 2022-01-01 | $8,085 |
| Total dividends received (eg from common stock, registered investment company shares) | 2022-01-01 | $93,499 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2022-01-01 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2022-01-01 | $93,499 |
| Was this plan covered by a fidelity bond | 2022-01-01 | Yes |
| Value of fidelity bond cover | 2022-01-01 | $5,000,000 |
| If this is an individual account plan, was there a blackout period | 2022-01-01 | No |
| Were there any nonexempt tranactions with any party-in-interest | 2022-01-01 | No |
| Contributions received from participants | 2022-01-01 | $249,732 |
| Participant contributions at end of year | 2022-01-01 | $73,192 |
| Participant contributions at beginning of year | 2022-01-01 | $107,400 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-01-01 | No |
| Value of net income/loss | 2022-01-01 | $-792,061 |
| Value of net assets at end of year (total assets less liabilities) | 2022-01-01 | $3,150,902 |
| Value of net assets at beginning of year (total assets less liabilities) | 2022-01-01 | $3,942,963 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2022-01-01 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2022-01-01 | No |
| Were any leases to which the plan was party in default or uncollectible | 2022-01-01 | No |
| Investment advisory and management fees | 2022-01-01 | $2,904 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2022-01-01 | $2,723,245 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2022-01-01 | $3,480,739 |
| Interest on participant loans | 2022-01-01 | $4,133 |
| Interest earned on other investments | 2022-01-01 | $3,952 |
| Value of funds held in insurance company general accounts (unallocated contracts) at end of year | 2022-01-01 | $354,465 |
| Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year | 2022-01-01 | $354,824 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2022-01-01 | $-646,159 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2022-01-01 | No |
| Was there a failure to transmit to the plan any participant contributions | 2022-01-01 | No |
| Has the plan failed to provide any benefit when due under the plan | 2022-01-01 | No |
| Contributions received in cash from employer | 2022-01-01 | $135,511 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2022-01-01 | $613,472 |
| Contract administrator fees | 2022-01-01 | $16,353 |
| Did the plan have assets held for investment | 2022-01-01 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-01-01 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2022-01-01 | No |
| Opinion of an independent qualified public accountant for this plan | 2022-01-01 | 1 |
| Accountancy firm name | 2022-01-01 | NEARMAN, MAYNARD & VALLEZ CPAS |
| Accountancy firm EIN | 2022-01-01 | 591906466 |
