Velocity Credit Union

Velocity Credit Union is headquartered in Austin and is the 25^th largest credit union in the state of Texas. It is also the 341^st largest credit union in the nation. It was established in 1947 and as of September of 2011, it had grown to 160 employees and 72,734 members. Velocity Credit Union has a 5-star health rating.

Velocity Credit Union Routing Number: 314977133

Related Posts

2011

• 9/15 - Best Long-Term CD Rates After Early Withdrawal Penalties
• 9/15 - Top Long-Term CD Rates at Velocity Credit Union - Easy Membership
• 9/8 - Comparing Rates of Long-Term CDs After Early Withdrawal Penalties
• 3/7 - Special 2-Year & 3-Year CD Rates at Velocity Credit Union in Texas - Easy Membership
• 2/11 - Update to Velocity Credit Union's 18-Month CD & 5-Year CD Rates
• 1/28 - Special 18-Month CD and IRA CD Rates at Velocity Credit Union in Texas - Easy Membership

2010

• 12/16 - Top 5-Year CD and IRA CD Rates at Velocity Credit Union in Texas - Easy Membership
• 4/25 - Special 24-Month CD Rate at Velocity Credit Union in Austin Texas - Easy Membership
• 3/24 - Velocity Credit Union Extends 9-Month CD Special - Easy Membership (Forum)
• 3/2 - Velocity Credit Union's 9-Month CD Special - Easy Membership
• 2/10 - Velocity Credit Union in Texas Decides to Stay with NCUA Deposit Insurance
• 2/10 - Velocity Credit Union Extends its 15-Month CD Special - Easy Membership but Soon-to-be ASI-Only (Forum)
• 2/1 - 15-Month CD Special at Velocity Credit Union - Easy Membership But Soon To Be ASI-Only
• 1/6 - Velocity CU Members Approve Conversion to Private Insurance - Future of ASI?

2009

• 12/3 - Velocity Credit Union in Texas Begins Voting Process for Switch to Private Insurance
• 2/20 - 3.14% 12-Month CD at Velocity Credit Union in Texas - Easy Membership
• 2/3 - 3.44% 18-Month CD at Velocity Credit Union in Texas - Easy Membership

2008

• 6/3 - 4.06% 15-Month CD at a Texas Credit Union (Velocity).
• 4/1 - 4.06% 12-Month CD at a Texas Credit Union (Velocity).
• 3/9 - 4.32% 9-Month CD at a Texas Credit Union (Velocity).

2007

• 4/11 - $30 Checking Account Bonus at a Texas Bank (Velocity)

Velocity Credit Union Checking Account Rates

Velocity Credit Union Savings Account Rates

Velocity Credit Union Money Market Rates

Velocity Credit Union CD Rates

Velocity Credit Union IRA Rates

Data for Q3 2011

Institution Statistics VELOCITY NCUA # 68359 BankRate Report View Year Established 1947 Employees 160 Primary Regulator Assets and Liabilities Assets $566.43 million Loans $343.61 million Deposits $516.20 million Equity Capital $46.44 million Loan Loss Allowance $1.97 million Unbacked Noncurrent Loans $1,000,000 Historic Data - September 2010 Assets $522.72 million Equity Capital $41.55 million Loan Loss Allowance $2.83 million Unbacked Noncurrent Loans $1.30 million Profit Margin - Quarterly Net Interest Margin 4.15% Return on Assets 1.37% Return on Equity 16.72% Interest Income $18.40 million Non-Interest Income $7.91 million

Institution Health Overall Score: 5 out of 5 Texas Ratio The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Velocity Credit Union had $1,000,000 in non-current loans and owned real-estate with $48.4 million in equity and loan loss allowances on hand to cover it. This gives Velocity Credit Union a Texas Ratio of 2.07% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Velocity Credit Union decreased slightly from 2.93% as of September 30, 2010 to 2.07% as of September 30, 2011, resulting in a positive change of 29.52%.This indicates that the balance sheet and financial strength for Velocity Credit Union has improved slightly in recent periods. Deposit Growth In the past year, Velocity Credit Union has increased its total deposits by $39.94 million, resulting in 8.39% 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 excellent. Capitalization 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 $566.43 million in assets with $48.4 million in equity, resulting in a capitalization level of 8.55%, which is average.

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