Canvas Credit Union


Overview / Commentary
303-691-2345
9990 Park Meadows Dr
Lone Tree, CO 80124

Canvas Credit Union is headquartered in Lone Tree and is the 3rd largest credit union in the state of Colorado. It is also the 107th largest credit union in the nation. It was established in 1938 and as of June of 2020, it had grown to 572 employees and 260,450 members at 30 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

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.

Excellent CD Rates For Some, But Not All

Today I opened a regular CD at one of the best rates in the U.S. The representative who helped me was efficient and pleasant.

What's questionable is Canvas pays a lesser rate for IRA CD's than for regular CD's. One could speculate their thought process is that IRA money is more stable and less likely to leave for a higher rate, so we can get away with paying them less.

I questioned this customer unfriendly policy and the answer was, "That's the way it's always been". So I would never buy an IRA CD from them, but their regular CD is fine.

Maybe A Good Deal, Hurdles.

Posted by: |

1.Consumers United Association
Applicant must donate a minimum of $5.00 annually to the association. Applicant must complete the online CUA application at
http://www.cuacolorado.org/join.asp.
2. Hard Pull for Applicants. What's with all these credit unions dinging credit scores when some applicants just want a good place to park savings?

Loved PSC- Now That It's Canvas It's Terrible

Posted by: |

I loved Public Service Credit Union but overnight it became terrible under Canvas. I cannot get ahold of anyone to ask basic questions, and when I went to pay off my vehicle they said it would take 7-10 days to receive the title. It's been almost 1 month and they are saying it was only sent out 2 weeks ago and I'll have to call back (and wait on a 10 minute hold) to go to the DMV... Unacceptable. Customer service was a priority under PSC but now it's just a regular huge bank who doesn't care about it's customers.

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Health

Health Grade Components

Overall
NCUA #64778
Year Chartered1938
Employees572
Primary Regulator
Profit Margin
Return on Assets - YTD0.42%
Return on Equity - YTD4.28%
Annual Interest Income$64.6MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$3.02B$2.60B
LoansQ2 2020vs Q2 2019$2.53B$2.29B
DepositsQ2 2020vs Q2 2019$2.61B$2.21B
Equity CapitalQ2 2020vs Q2 2019$283.8MM$260.5MM
Loan Loss AllowanceQ2 2020vs Q2 2019$30.3MM$27.0MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$9.4MM$12.7MM
Real Estate OwnedQ2 2020vs Q2 2019$0$89.00K
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
0.15%--Save More Win More 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
0.75%*$100k*-Business Jumbo Money Market
OTHER TIERS: 0.15% $1k - $100k
0.75%*$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
1.15%$1k-22 Month CD Special
1.05%$1k-60 Month CD
0.85%$1k-48 Month CD
0.80%$1k-36 Month CD
0.75%$1k-24 Month CD
0.70%$1k-18 Month CD
0.50%$1k-12 Month CD
0.50%$500-Classic Secured Mastercard CD
0.35%$1k-6 Month CD

Canvas Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%$2.5k-60 Month IRA
0.95%$2.5k-48 Month IRA
0.90%$2.5k-36 Month IRA
0.85%$2.5k-24 Month IRA
0.80%$2.5k-18 Month IRA
0.60%$2.5k-12 Month IRA
Locations

Availability

Denver Area

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