Notable Credit Union Leaders: Kim Sponem

Kim Sponem has been president and CEO of Summit Credit Union for nearly 20 years. In that time, she has grown the organization to be one of the largest credit unions in Wisconsin, with $4.5 billion in assets and more than 210,000 members. Summit is based in Cottage Grove, and has been growing into the Milwaukee area for the past decade.

Under her leadership, Summit has been named the #1 Small Business Association (SBA) Lender in Wisconsin, among credit unions, by number of SBA loans approved.

Through the COVID-19 pandemic, Summit has provided SBA Paycheck Protection Program (PPP) loans. Summit funded 1,400 PPP loans in 2020 for $59 million to help small businesses, more than any other credit union in the state. 

When the pandemic hit, Sponem had the business lending team proactively approach Summit’s business members most likely to be hit hard by the impacts of the pandemic with help and solutions, according to Mike Jones, Summit’s managing vice president of business services.

Sponem recognizes that diversity is a strength and that businesses have a role in creating greater equity and inclusion for all, Jones said. More than a decade ago, she led Summit’s shift to focus on women, including women who own businesses.