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512-836-5901
2608 Brockton Dr
Austin, TX 78758

Amplify Credit Union is headquartered in Austin and is the 28th largest credit union in the state of Texas. It is also the 340th largest credit union in the nation. It was established in 1967 and as of March of 2014, it had grown to 174 employees and 46,725 members. Amplify Credit Union has a A health rating.

Field of Membership Restrictions

Must live, work or attend school in Travis, Williamson, Hays, Caldwell or Bastrop County. - See Details

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Reviews (4)

Stay Away Worst Credit Union Ever

MUST READ! The worst credit union ever, strike that the worst bank ever! After having a car loan with them several years and a series of events I called to pay my loan. The women who took my credit card number "hits enter twice" and runs my card for two payments. When for some reason they could not cancel one, she tells me that I have to go into my bank and stop payment! Okay do it, but yet again wasting my time. I decide to look into refinancing my 8% used car loan with university credit union, they refinance me at 3.5% NICE! But that is not it! months go by and I get a call that I owe amp one more payment, I ask why? They tell me that my last payment bounced, I tell them I have never bounced anything in my life and say I have to look into it. I pull my closing statement and it showing paid in full. I also call my credit union and ask them if I Ever bounced anything to amp. They tell me no you have never bounced a thing to them or anyone else. A few days go by and this jerk named Chris calls me and says that all I am trying to do is skip out on a payment, a small payment at that. He calls me a liar and a thief and demands payment, I tell this guy that I have a closing stament showing nothing due! He again tells me that I'm a liar and all I'm doing is trying to get out of a payment and that my last payment bounced and that I have to pay him or he is going to ruin my credit! We shared some words loudly and ask them can you guy possibly of made a mistake when I refinanced and gave university the wrong pay off amount, he says that they do not make mistakes then he accuses me of ripping them off and all I am doing is trying to skip out on a payment, I told this very rude Chris guy off and hung up on him. This credit union is not a credit union that we all love this bank is just like the big banks that calls us liars, and try to steal our hard earned money they will not help you with anything. Go to another credit union stay away form this place. Now if this Chris just simply said yes we made a mistake and gave the wrong payoff I would of paid it right then. But i am showing my last payment paid and have a stament showing ZERO DUE. As for my credit I have a statement showing the loan paid in full and closed, and the funny thing is that my new bank has the title would they of held that until the loan was paid and closed?

Staggeringly Incompetent

I've been a member since the mid 1990's, and have watched the quality of employees and service continue to deteriorate since it stopped being the IBM Employees credit union.  They never explained to us members why the changeover to "Amplify" -- we assumed it was a change in name only, but oh, how wrong that assumption turned out to be.  Calling the customer service department is a complete waste of time, for 90% of the time the CSA agent won't know how to help you, but will promise somebody's going to call you back, which of course they never do.  Visiting in person is quite dismaying.  There's only one or two of the old time employees left, the rest are a constantly changing parade of incompetent nincompoops who know nothing about banking, but they're perky and hope you have a great! day and offer you a bottle of water.  Then there's the regular emails offering "seminars" which are nothing more than attempts to sell you something -- not Amplify services, but a variety of "financial" products and services.  When did it become ok for a credit union to shill for hucksters trying to sell you something?  The actual financial advisors who used to be associated with IBMFCU have all severed their business relationships with Amplify, and who can blame them?  I am a supporter of credit unions in general, but after 16 years with this one I've come to the conclusion that Amplify is a disaster waiting to happen.

Response To Previous Review

We have been working with this member toward resolution of the issue mentioned and apologize for any miscommunication or misunderstandings that may have occurred.  At Amplify we value all of our members, and we’re dedicated to providing exceptional service. We invite this member to please contact our Senior Vice President of Lending, Kendall Garrison, at 512.519.5426 or kgarrison@goamplify.com for a resolution.

Best Credit Union I've Had

I've belong to four different credit unions, three in Austin. Amplify CU is the best of all of them. I rarely have to wait for a teller and they are always helpful. Several employees have been there for many years and they know my name.

I've been a member of Amplify since it was IBM Employees Credit Union and I am happy to recommend it.



Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Amplify Credit Union had $2.53 million in non-current loans and owned real-estate with $59.58 million in equity and loan loss allowances on hand to cover it. This gives Amplify Credit Union a Texas Ratio of 4.25% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Amplify Credit Union experienced no significant changes from 3.85% as of March 31, 2013 to 4.25% as of March 31, 2014, resulting in a negative change of 10.33%. This indicates that the balance sheet and financial strength for Amplify Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Amplify Credit Union has increased its total deposits by $40.27 million, resulting in 7.5% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Amplify Credit Union has shown is excellent.

Capitalization

GRADE:
C

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Amplify Credit Union has $669.19 million in assets with $59.58 million in equity, resulting in a capitalization level of 8.90%, which is average.

Institution Statistics

Overall
NCUA #18304
Year Chartered1967
Employees174
Primary Regulator
Assets and Liabilities
Assets$669.19 million
Loans$528.68 million
Deposits$576.97 million
Equity Capital$57.10 million
Loan Loss Allowance$2.48 million
Unbacked Noncurrent Loans$2.53 million
Real Estate Owned$0
Historic Data - March 2013
Assets$608.20 million
Equity Capital$51.59 million
Loan Loss Allowance$3.22 million
Unbacked Noncurrent Loans$2.53 million
Real Estate Owned$352,000
Profit Margin - Quarterly
Net Interest Margin0.99%
Return on Assets0.92%
Return on Equity10.83%
Interest Income$5.97 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Amplify Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Amplify Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%--CESA
0.25%$5k-Savings Account
0.25%$5k-Holiday Savings Account
0.25%$5k-Youth Savings Account
0.25%--IRA Share
0.25%--Roth IRA Share
0.25%$5k-College Savings Account

Amplify Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$100k-Business Money Market Account
0.35%$200k-Money Market Advantage

Amplify Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$100k-Amplified Checking Account
0.15%$50k-Amplify Business Checking
0.05%$25-Checking Plus

Amplify Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
2.25%$100k-84 Month Share Certificate
1.75%$100k-60 Month Share Certificate
1.50%$100k-60 Month Step-up Share Certificate
0.75%$100k-48 Month Share Certificate
0.75%$100k-36 Month Share Certificate
0.75%$100k-24 Month Share Certificate
0.72%$500-11 Month Share Certificate
0.60%$100k-24 Month Step-up Share Certificate
0.60%$100k-30 Month Share Certificate
0.50%$100k-18 Month Share Certificate
0.50%$100k-12 Month Share Certificate
0.30%$100k-9 Month Share Certificate
0.30%$100k-6 Month Share Certificate
0.10%$100k-3 Month Share Certificate
0.05%$100k-1 Month Share Certificate

Amplify Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.80%$100k-60 Month IRA
0.65%$100k-30 Month IRA
0.55%$100k-18 Month IRA
0.55%$100k-12 Month IRA
0.40%$25-30 Month CESA
0.30%$25-18 Month CESA
0.30%$25-12 Month CESA
Locations


Amplify Credit Union Locations
Branch Office607 Congress AveAustin, TX 78701
Branch Office2608 Brockton DrAustin, TX 78758
Branch Office202 Walton WayCedar Park, TX 78613
Branch Office115 Sundance Pkwy Ste 500Round Rock, TX 78681-7927
Branch Office13050 Pond Springs RdAustin, TX 78729
Branch Office4500 E Palm Valley Blvd Ste 136Round Rock, TX 78665-2664
Branch Office3600 W Parmer LnAustin, TX 78727