401(k) · DOL Form 5500 · 2022

Summit Credit Union 401(k) Plan

Data updated 2026-08-25

$3M
Total assets Small plan by assets
102
Participants Small participant base
41st
Percentile by assets National rank
$30,891
Avg per participant Low balance/head
PlainRetire home → About this data RSS: change history

Official DOL plan name: Summit Credit Union 401(k) Plan and Trust · Sponsored by Summit Credit Union · North Carolina · Finance & Insurance

$3M in assets, 102 participants

Summit Credit Union's Summit Credit Union 401(k) Plan and Trust reported $3M in total assets and 102 participants in its 2022 DOL Form 5500 filing, ranking in the 41st percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #2,608 in Finance & Insurance (9,261 peers)

Coverage in North Carolina

Summit Credit Union 401(k) Plan and Trust covers 102 participants in North Carolina, about 12% of the average North Carolina filer (state average ~819 per filing). Assets: $3M.

#2,608
in Finance & Insurance (9,261 peers)
-20.1%
assets change YoY

The plan reported a net loss of $792K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Summit Credit Union 401(k) Plan and Trust's mid-pack asset rank among Finance & Insurance and all filers

Summit Credit Union 401(k) Plan and Trust vs every filed plan by assets

End-of-year total assets · plan year 2022 · DOL Form 5500

$3,150,902 41st percentile higher than 41% of 139,123 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2022

Summit Credit Union 401(k) Plan and Trust among mid-size filed plans by headcount

Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Summit Credit Union 401(k) Plan and Trust sits mid-pack in the medium band (102 participants).

DOL schedule card

Filing strip 560432082 · Summit Credit Union PY 2022 · 401(k)

Summit Credit Union 401(k) Plan and Trust · $3M · 102 · 41st

  • PHOTO $3M
  • IND 102
  • EOY 41st
  • 5500 401(k)
  • ASSETS near Tru-Tone Finishing, Inc. 401(k) Plan
  • PCT ind #2608

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in North Carolina →

Summit Credit Union 401(k) Plan and Trust in the asset neighbourhood

Summit Credit Union 401(k) Plan and TrustSummit Credit Union 401(k) P…$3MTru-Tone Finishing, Inc. 401(k) PlanTru-Tone Finishing, Inc. 401…$3MCatalina Paints 401(k) P/S PlanCatalina Paints 401(k) P/S P…$3MNephrology Internal Medicine 401(k) Profit Sharing PlanNephrology Internal Medicine…$3MNew Covenant Retirement Savings PlanNew Covenant Retirement Savi…$3M
End-of-year total assets ($M) among Summit Credit Union 401(k) Plan and Trust and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2022.

North Carolina filing particulars

Total Assets (Beginning of Year)$4M
Net Assets (End of Year)$3M
Net Income-$792K
Employer EIN560432082
Plan Effective Date1998-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Summit Credit Union)

Sponsor-wide plan assets over time

All Summit Credit Union plans reported in each filing year

Latest sponsor-wide plan assets
$9M 15.793992690522915% vs 2022
2024 filing year
$7M$8M$9M$10M$11M 202220232024 $10.1M $8.51M ▼ -15.7%
Year Plans Participants Total Assets
2022 2 197 $10M
2023 1 100 $8M
2024 1 101 $9M

Nearby 401(k) Plans in North Carolina

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Summit Credit Union 401(k) Plan and Trust vs. nearby 401(k) plans in North Carolina, assets vs. participants Scatter plot of 6 data points. -1000000100000200000300000 -200204060 Total assets ($B) Participants Summit Credit Union 401(k) Plan and Trust, Total assets ($B): 0.003150902 · Participants: 102Summit Credit Union 401(k) Plan and TrustThe Bank of America 401(k) Plan, Total assets ($B): 47.134026012 · Participants: 169036The Bank of America 401(k) PlanHoneywell 401(k) Plan, Total assets ($B): 14.565715066 · Participants: 39007Honeywell 401(k) PlanDuke Energy Retirement Savings Plan, Total assets ($B): 9.364902 · Participants: 27731Duke Energy Retirement Savings PlanTruist Financial Corporation 401(k) Savings Plan, Total assets ($B): 8.965353965 · Participants: 51871Truist Financial Corporation 401(k) Savings PlanLowes 401(k) Plan, Total assets ($B): 7.355936526 · Participants: 284864Lowes 401(k) Plan
Summit Credit Union 401(k) Plan and Trust vs. nearby 401(k) plans in North Carolina, assets vs. participants
Compare Summit Credit Union 401(k) Plan and Trust side-by-side with 3 peers →

Summit Credit Union 401(k) Plan and Trust's out-of-state 401(k) peers by assets and headcount

Outside North Carolina, the nearest 401(k) by assets is Tru-Tone Finishing, Inc. 401(k) Plan in IL ($3M); by covered participants it is First Choice Bank 401(k) Profit Sharing Plan in CA (102 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (102 participants); asset peers above are excluded.

DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Summit Credit Union 401(k) Plan and Trust assets move in 2022? ▼
Summit Credit Union 401(k) Plan and Trust declined sharply - down 20.1% during 2022, from $4M to $3M. Reported net income was -$792K.
How have Summit Credit Union plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Summit Credit Union's sponsor-wide assets declined 15.8%, from $10M to $9M.
Which 401(k) plans are similar in size to Summit Credit Union 401(k) Plan and Trust? ▼
Among 401(k) plans in other states, the closest by assets is Tru-Tone Finishing, Inc. 401(k) Plan in IL ($3M, 145 participants).
Which 401(k) plans cover a similar participant headcount to Summit Credit Union 401(k) Plan and Trust? ▼
Among 401(k) plans in other states, the closest by covered participants is First Choice Bank 401(k) Profit Sharing Plan in CA (102 participants, N/A in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 560432082.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.