Canvas Credit Union


Overview / Commentary
303-691-2345
7055 East Evans Avenue
Denver, CO 80224

Canvas Credit Union is headquartered in Lone Tree and is the 3rd largest credit union in the state of Colorado. It is also the 104th largest credit union in the nation. It was established in 1938 and as of June of 2019, it had grown to 504 employees and 250,202 members at 27 locations. Canvas Credit Union's savings rates are 10X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Canvas Credit Union is open to the following: 1) employees or affiliates of a Canvas Credit Union Partner Company or Select Employee Group; 2) those who live or work in a qualifying area (not listed on the credit union's site); 3) relatives of current members.
See current membership details

Related Posts

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Public Service Credit Union - Would recommend!

Almost a decade ago, I decided to leave my former major bank (Wells Fargo) for a local credit union and I chose Public Service Credit Union. My only regret is that I didn't do so sooner. PSCU is the best bank I've ever worked with. I have both a checking and a savings account there. Anytime I go into a branch I am greeted by friendly and professional staff who make banking a pleasure. They have an automated phone system, but during business hours it's easy to reach a real human. I do the majority of my banking online, and it is a solid website. The only downside to that is the website will pop up a second site and redirect when you want to do online bill pay. The fees are fairly reasonable - as long as you make three transfers or payments through them you can avoid a monthly bill pay fee, and keeping a minimal amount of money in the account is fine (I generally keep $50-$100 in my checking account after I pay monthly bills). I also have overdraft protection of $300 free, so I never have to worry about overdraft fees. The ATM fee is steep: $2.50 on top of the machine fee, but they are part of a credit union network, so it's easy to find a free nearby ATM and avoid that fee. Overall, I'm pleased with PSCU and would highly recommend them.

Savings Account

I had never considered a credit union until I bought a new car and the loan went to them. I opened a savings account because of the amazing service they gave me with the car. The customer service was great and they answered all of my questions. I was leery at first because I always though credit unions were expensive, but there are no fees associated with my savings account. I have the app on my phone as well as online banking. Both are very easy to navigate and give me the most up to date information that I am looking for. The only thing that I am not fond of is that when I do have to go inside to do my banking, the line seems to always be very long. I try to do as much online and mobile that I can to avoid going inside the credit union. I am thinking about switching all of my banking over to the credit union.

Canvas Credit Union. BIG MISTAKE

I have had issues with multiple online payments not being approved (on my end) but then called Canvas and was told that they all went through (hundreds of dollars) and according to the teller, there was "nothing" they could do about it on their end. I just had a western union transaction attempt that was approved , only to be rejected by the "added security" feature which was added by CANVAS AND IS NOT OPTIONAL! The worst part is when you call them and the employee CLEARLY has no training and NO IDEA WHAT TO TELL YOU. This is NOT HELP. This is NOT "added security". I HATE CANVAS! Can't wait to leave.

Crappy Customer Service

Posted by: kschwartz | Aug 22, 2019

This credit union has the worst customer service. I had a business account here that overdrafted by 148 dollars. I had switched business accounts to another bank that cared about customers. I had a personal account at Canvas also. They froze my personal account because they said we are going to incur a loss on the other account. They told me till its paid they will not release it. They would not unfreeze my account so I could pay the other bill! Their loss mitigation department was no help and refused to help me at all. None of them called me to tell me about the account being frozen or call and ask about the overdrawn account so I can pay it. We have three auto loans with them and have several tother accounts with them. I will be cancelling all of them. Do not do business with them! I would give negative stars if possible!

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Health

Health Grade Components

Overall
NCUA #64778
Year Chartered1938
Employees504
Primary Regulator
Profit Margin
Return on Assets - YTD0.96%
Return on Equity - YTD9.55%
Annual Interest Income$61.3MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$2.60B$2.40B
LoansQ2 2019vs Q2 2018$2.29B$2.06B
DepositsQ2 2019vs Q2 2018$2.21B$2.04B
Equity CapitalQ2 2019vs Q2 2018$260.5MM$239.8MM
Loan Loss AllowanceQ2 2019vs Q2 2018$27.0MM$21.2MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$12.7MM$13.1MM
Real Estate OwnedQ2 2019vs Q2 2018$89.00K$438.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Canvas Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Canvas Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%*-$1kNext Level Savings
OTHER TIERS: 0.10% $1k+
3.25%*-$2kReverse Tier Savings Account - 1st 5K New Money
OTHER TIERS: 0.30% $50k+ | 0.40% $10k - $50k | 0.75% $5k - $10k | 1.50% $2k - $5k
0.50%*$100k*-Health Savings Account
OTHER TIERS: 0.10% Up to $10k | 0.15% $10k - $25k | 0.20% $25k - $50k | 0.30% $50k - $100k
0.30%--IRA Savings Account
0.10%$5-Membership Savings Account
0.10%--Personalized Savings Account
0.10%$5-Business Membership Savings Account
0.05%--Holiday Savings Account

Canvas Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$100k*-Business Jumbo Money Market
OTHER TIERS: 0.15% $1k - $100k
1.50%*$100k*-Jumbo Money Market Account
OTHER TIERS: 0.15% $1k - $100k
0.45%*$100k*-Money Market Plus
OTHER TIERS: 0.20% $10k - $25k | 0.25% $25k - $50k | 0.35% $50k - $100k
0.40%*$100k*-Business Money Market
OTHER TIERS: 0.15% $1k - $25k | 0.20% $25k - $50k | 0.30% $50k - $100k
0.15%$1k-Money Market

Canvas Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$25k*-Interest Checking
OTHER TIERS: 0.05% $500 - $10k | 0.10% $10k - $25k
0.05%$3k-Premier Business Checking

Canvas Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.60%$1k-18 Month CD
2.00%$1k-6 Month CD
1.90%$1k-60 Month CD
1.80%$1k-36 Month CD
1.40%$1k-12 Month CD
1.40%$1k-48 Month CD
1.15%$1k-24 Month CD

Canvas Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.30%$2.5k-60 Month IRA
2.00%$2.5k-48 Month IRA
1.90%$2.5k-24 Month IRA
1.50%$2.5k-12 Month IRA
1.50%$2.5k-36 Month IRA
1.25%$2.5k-18 Month IRA
Locations

Availability

Denver Area

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