Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
512-469-7000
610 E 11th St
Austin, TX 78701-2621

Velocity Credit Union is headquartered in Austin and is the 25th largest credit union in the state of Texas. It is also the 331st largest credit union in the nation. It was established in 1947 and as of March of 2014, it had grown to 152 employees and 74,215 members. Velocity Credit Union has a A health rating.

Field of Membership Restrictions

1. You can join if you live or work in the following areas: Within a 10-mile radius of any Velocity branch or ATM Travis County Williamson County Hays County Bastrop County Caldwell County 2. You can join if you are related to a member 3. You can join if you are part of one of over 100 sponsoring employers and organizations - See Details

Related Posts



Reviews (2)

Great Credit Union, Wonderful Personal Service

Velocity has been around Austin for more than 60 years.  Love the friendly and knowledgable employees.  You are treated like a VIP here, not a "number."

Not Competative These Days

I have been with Velocity Credit Union for more than 30 years. The employees are great with wonderful customer service. I wonder why Velocity is paying such low CD, share, money market rates to their members. They use to be very competitive. I liked the fact I could do all my business with them, but that has changed and I am looking for new opportunities.



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 Velocity Credit Union had $1.21 million in non-current loans and owned real-estate with $73.32 million in equity and loan loss allowances on hand to cover it. This gives Velocity Credit Union a Texas Ratio of 1.65% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for Velocity Credit Union decreased slightly from 1.88% as of March 31, 2013 to 1.65% as of March 31, 2014, resulting in a positive change of 12.03%.This indicates that the balance sheet and financial strength for Velocity Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Velocity Credit Union has increased its total deposits by $13.3 million, resulting in 2.23% 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 Velocity Credit Union has shown is above average.

Capitalization

GRADE:
B+

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. Velocity Credit Union has $684.38 million in assets with $73.32 million in equity, resulting in a capitalization level of 10.71%, which is above average.

Institution Statistics

Overall
NCUA #68359
Year Chartered1947
Employees152
Primary Regulator
Assets and Liabilities
Assets$684.38 million
Loans$433.75 million
Deposits$609.45 million
Equity Capital$71.05 million
Loan Loss Allowance$2.27 million
Unbacked Noncurrent Loans$1.21 million
Real Estate Owned$0
Historic Data - March 2013
Assets$659.37 million
Equity Capital$55.78 million
Loan Loss Allowance$1.92 million
Unbacked Noncurrent Loans$1.21 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.18%
Return on Assets1.72%
Return on Equity16.55%
Interest Income$6.67 million
Rates

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

Velocity Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.35%$50k-Traditional IRA Savings
0.35%$50k-Roth IRA Savings
0.20%$100-Regular Share Savings
0.20%--Rising Star (Youth) Savings
0.20%--Cosmic Teen (Youth) Savings

Velocity Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$200k-Prestige Money Market Account

Velocity Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$15k-Choice Business Checking
0.15%$2k-Priority One Checking
0.15%$20k-Check Plus Checking
0.05%$500-Regular Checking

Velocity Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.56%$1k-5 Year Inflation Fighter Share Certificate
1.00%$1k-4 Year Inflation Fighter Share Certificate
0.85%$1k-3 Year Inflation Fighter Share Certificate
0.60%$1k-2 Year Inflation Fighter Share Certificate
0.60%$1k-30 Month Inflation Fighter Share Certificate
0.45%$1k-1 Year Inflation Fighter Share Certificate
0.45%$1k-18 Month Inflation Fighter Share Certificate
0.25%$20k-9 Month Mini-Jumbo Share Certificate
0.20%$20k-6 Month Mini-Jumbo Share Certificate
0.20%$1k-182 Day Short Term Share Certificate
0.20%$1k-9 Month Short Term Share Certificate
0.10%$20k-91 Day Mini-Jumbo Share Certificate
0.10%$100-2 Year Small Savers Share Certificate
0.10%$1k-91 Day Short Term Share Certificate

Velocity Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.56%$1k-5 Year IRA Certificate
1.10%$1k-4 Year IRA Certificate
0.95%$1k-3 Year IRA Certificate
0.70%$1k-2 Year IRA Certificate
0.50%$1k-1 Year IRA Certificate
Locations


Velocity Credit Union Locations
Branch Office4220 S Lamar Blvd Ste 100Austin, TX 78704-7924
Branch Office900 Round Rock AveRound Rock, TX 78681-4510
Branch Office610 E 11th StAustin, TX 78701-2621
Branch Office1201 W Braker LnAustin, TX 78758-3844
Branch Office9300 S Interstate 35 Bldg IAustin, TX 78748-1751