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 March of 2019, it had grown to 500 employees and 244,969 members at 27 locations. Canvas Credit Union's savings rates are 6X 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
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.
Fairly Good
Overall, my experiences with this credit union have been fairly neutral--I have been associated with another local credit union I liked better and another I liked worse. Generally, the customer service at the branches on the north side of Denver has been decent, the employees are usually friendly and happy to help. I have only had one major issue with this credit union, and that is that the mobile banking (new site/app) can be unpredictable and has locked me out several times even though I know I had a correct password. On one occasion, this resulted in be being unaware that the bank had used money in my checking account towards a loan without notifying me, resulting in a duplicate payment onto my car loan and many $33 overdraft fees as I had no way of seeing that the account had gone negative/the money had been used due to online banking not working. Despite having direct deposit and regularly depositing money into the account which would have not been negative if not for the bank transferring an entire duplicate amount of my payment from my account, I was treated as irresponsible and felt as though the credit union tried to use a miscommunication as a way to profit off of me. The issue was somewhat resolved with some of the fees being removed from my checking account, but I still ended up paying almost $200 in fees due to errors of the bank and the poor online banking interface. I recognize my own error in the situation of not getting the login issue resolved quickly enough, but it gave me a negative association with this credit union. I am now weary of depositing money into my savings or checking account beyond the amount to pay my car loan because I am not confident that I will have access to it when I need it or that the bank will not misallocate the funds. Overall, I probably would not recommend this particular credit union to others due to their tendency to charge more fees and have unreliable online banking, but still vastly prefer it to other banking options.
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.
Disappointed
I have been a member of what was once the Public Service Credit Union (now Canvas Credit Union) for about 45 years and always received great service. The recent decision to eliminate the convenience of the “Chat” system will cause me to do my banking elsewhere.
Data as of Q1 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 64778 |
| Year Chartered | 1938 |
| Employees | 500 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.79% |
| Return on Equity - YTD | 7.77% |
| Annual Interest Income | $29.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2019vs Q1 2018 | $2.56B$2.36B |
| Loans | Q1 2019vs Q1 2018 | $2.16B$1.99B |
| Deposits | Q1 2019vs Q1 2018 | $2.23B$2.05B |
| Equity Capital | Q1 2019vs Q1 2018 | $252.4MM$234.2MM |
| Loan Loss Allowance | Q1 2019vs Q1 2018 | $26.3MM$19.9MM |
| Unbacked Noncurrent Loans | Q1 2019vs Q1 2018 | $9.3MM$14.5MM |
| Real Estate Owned | Q1 2019vs Q1 2018 | $245.00K$438.00K |
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
Canvas Credit Union Money Market Rates
Canvas Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.90% | $1k | - | 60 Month CD | |
| 2.35% | $1k | - | 15 Month CD | |
| 1.90% | $1k | - | 48 Month CD | |
| 1.80% | $1k | - | 24 Month CD | |
| 1.40% | $1k | - | 36 Month CD | |
| 1.15% | $1k | - | 18 Month CD | |
| 1.05% | $1k | - | 12 Month CD | |
| 0.20% | $1k | - | 6 Month CD |
Canvas Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $2.5k | - | 60 Month IRA | |
| 2.00% | $2.5k | - | 48 Month IRA | |
| 1.50% | $2.5k | - | 36 Month IRA | |
| 1.35% | $2.5k | - | 24 Month IRA | |
| 1.25% | $2.5k | - | 18 Month IRA | |
| 1.15% | $2.5k | - | 12 Month IRA |
