5 star ratingAverage User Rating:
5 star rating based on 1 review.

Velocity Credit Union

Velocity Credit Union Locations
610 East 11th Street
Austin, TX 78701
(800) 933-2029
www.velocitycu.com



Velocity Credit Union is headquartered in Austin and is the 23rd largest credit union in the state of Texas. It is also the 320th largest credit union in the nation. It was established in 1947 and as of December of 2011, it had grown to 159 employees and 72,572 members. Velocity Credit Union has a 5-star health rating.

Velocity Credit Union Routing Number: 314977133

Related Posts

Velocity Credit Union Extends CD Promotion - CD Application & Deposit Insurance Issues - 11/19/2011

I was surprised to see that Velocity Credit Union extended its CD promotion. Its very competitive promotional CD rates are now available through November 30, 2011 . The promotion was originally schedu ...

Special CD Rates at Velocity Credit Union in Texas - Easy Membership - 11/8/2011

Velocity Credit Union did something that is unusual these days. It came out with a CD special with very competitive rates. The yields are 2.83% APY for 5 years, 2.12% APY for 3 years and 1.51% APY for ...

Velocity Credity Union Limited Time CD Rates (Forum) - 11/7/2011

       Info as posted via a link on the Velocity CU web site ..........   Available through November 21, 2011 Rate based on term of certificate (see below) $5,000 minimum required on certificates and IRAs Div

Comparing the Best Long-Term CD Rates After Early Withdrawal Penalties - 10/6/2011

I thought it was a good time for another comparison of the top long-term CDs if the CDs are closed early. Unfortunately, two of the banks that were in my last comparison have cut their rates. As you m ...

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See Rates for: Checking | Savings | Money Market | CD | IRA

Velocity Credit Union Checking Account Rates

ApyMinMaxProduct
0.35%$20k-Check Plus Checking
0.20%$15k-Business Growth Checking
0.15%$2k-Priority One Checking
0.15%$500-Regular Checking

Velocity Credit Union Savings Account Rates

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0.50%--Holiday Savings Account
0.50%$50k-Traditional IRA Savings
0.50%$50k-Roth IRA Savings
0.35%$100-Regular Share Savings
0.20%--Rising Star (Youth) Savings
0.20%--Cosmic Teen (Youth) Savings

Velocity Credit Union Money Market Rates

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0.45%$200k-Prestige Money Market Account

Velocity Credit Union CD Rates

ApyMinMaxProduct
1.51%$1k-5 Year Inflation Fighter Share Certificate
1.21%$1k-4 Year Inflation Fighter Share Certificate
1.00%$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
0.40%$1k-1 Year Inflation Fighter Share Certificate
0.40%$1k-18 Month Inflation Fighter Share Certificate
0.30%$100-2 Year Small Savers Share Certificate
0.30%$1k-182 Day Short Term Share Certificate
0.30%$1k-9 Month Short Term Share Certificate
0.20%$20k-6 Month Mini-Jumbo Share Certificate
0.20%$20k-9 Month Mini-Jumbo Share Certificate
0.15%$20k-91 Day Mini-Jumbo Share Certificate
0.10%$1k-91 Day Short Term Share Certificate

Velocity Credit Union IRA Rates

ApyMinMaxProduct
1.56%$1k-5 Year IRA Certificate
1.56%$1k-5 Year Roth IRA Certificate
1.26%$1k-4 Year IRA Certificate
1.26%$1k-4 Year Roth IRA Certificate
1.05%$1k-3 Year IRA Certificate
1.05%$1k-3 Year Roth IRA Certificate
0.65%$1k-2 Year IRA Certificate
0.65%$1k-2 Year Roth IRA Certificate
0.45%$1k-1 Year IRA Certificate
0.45%$1k-1 Year Roth IRA Certificate

Rates updated: 5/27/2012

Data for Q4 2011


Institution Statistics


VELOCITY
NCUA #68359
BankRate ReportView
Year Chartered1947
Employees159
Primary Regulator

Assets and Liabilities

Assets$613.12 million
Loans$343.60 million
Deposits$561.26 million
Equity Capital$48.15 million
Loan Loss Allowance$1.84 million
Unbacked Noncurrent Loans$1.03 million

Historic Data - December 2010

Assets$515.10 million
Equity Capital$43.59 million
Loan Loss Allowance$2.40 million
Unbacked Noncurrent Loans$1.33 million

Profit Margin - Quarterly

Net Interest Margin5.58%
Return on Assets1.18%
Return on Equity15.08%
Interest Income$24.49 million
Non-Interest Income$10.53 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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 December 31, 2011 Velocity Credit Union had $1.03 million in non-current loans and owned real-estate with $49.99 million in equity and loan loss allowances on hand to cover it. This gives Velocity Credit Union a Texas Ratio of 2.06% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Velocity Credit Union decreased slightly from 2.88% as of December 31, 2010 to 2.06% as of December 31, 2011, resulting in a positive change of 28.67%.This indicates that the balance sheet and financial strength for Velocity Credit Union has improved slightly in recent periods.
Deposit Growth5
In the past year, Velocity Credit Union has increased its total deposits by $93 million, resulting in 19.86% 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.
Capitalization3
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 $613.12 million in assets with $49.99 million in equity, resulting in a capitalization level of 8.15%, which is average.
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Great Credit Union, Wonderful Personal Service
5 stars - BarbaraB - Saturday, April 28, 2012 - 8:04 AM

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."

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