Canvas Credit Union is headquartered in Lone Tree and is the 3rd largest credit union in the state of Colorado. It is also the 92nd largest credit union in the nation. It was established in 1938 and as of March of 2025, it had grown to 704 employees and 308,120 members at 36 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 all Colorado residents who belong to the Consumer United Association ($5 fee). Employees or affiliates of a Canvas Credit Union Partner Company or Select Employee Group, those who live or work in a qualifying area (not listed on the credit union's site, or relatives of current member also qualify for membership.
See current membership details
Do Not Get A Auto Loan Through Them!
Do not use the for auto loans. I have never been late with a payment in over 2 years. I get covid and was 15 days late making a payment. 2 months later I get a letter in the mail saying they reported late payment over 33 days. Well it was a late charge that was from late payment they never sent me anything about nor put it on my account. I have made 4 payments since the late payment and it never showed a late charge. Which I would have paid because I was late but I did not MISS a payment. They said I should have known what it was. I have never been late so NO I do not know how much your late payment is to which the person I spoke with said it depended on the state I was in. That makes no sense. Also told me it would not be taken off my credit report even after I pay it!!! I will be changing loan companies!!
Held A Cashiers Check For Days With No Answer To Why
Terrible access to anyone by phone. Once I spoke with someone, they said they would get someone to address why the cashiers check I deposited had been held for so long. When someone called me, he was unprofessional and unable to provide any help or answers. This credit union has branches filled with these young kids and lack any real professionalism.
I'm pulling out all my money from this bank.
Canvas No Longer A Public Service
Opened my accounts with Public Service Credit Union and was very pleased with their service. Once they renamed themselves "Canvas" and decided to use membership money (without consulting the members) to name the CU Stadium after themselves, everything went downhill. Service is now lacking and interest rates paid to members dropped significantly (independent of FOMC cuts). The Public Service website was so much better than the newer Canvas website that lacks features of most other credit unions. I have asked for improvements to the website with no response. I was told that I could access all of my accounts through a single log-in...that never happened.
I have moved most of my savings funds to other credit unions that provide better service and higher interest rates. I continue to use their bill pay but that is it. Don't bother joining unless you see a benefit to you over other credit unions.
WARNING!!! Do NOT Get An Auto Loan Through These People!!!!!!
I have been financing a vehicle through this company for nearly 4 years and hit a hardship not only due to COVID, but because of domestic violence… I was told I qualified for “Skip a Pay” once I got caught up finally- what do they do? They say “oh, nevermind. You do not qualify”. Not only that- one woman threatened me that they would come and take my car away if they did not receive payment THAT DAY. THIS IS COMPLETELY ILLEGAL. Their customer service reps are NOT empathetic whatsoever. As soon as I get the opportunity, I WILL refinance elsewhere. Be careful people !!!
BEWARE: Changed Maturity Date On IRA CD
Had a 48 month CD that they changed the maturity date from 4/19/22 to 4/06/22. For 2.5 years their statements said that the maturity date was 4/19/22. The website doesn't state what the maturity date is and I rarely look at the actual statements since the website gives me the transactions, so I didn't notice that they retroactively changed the maturity date from the date that they received the funds on the trustee-to-trustee transfer to the date that I started the process of getting the account set up to have a place for the old trustee to transfer to. To make matters worse, they didn't mail me a notice that the CD was maturing but I thought "no problem I have it on my calendar from when I first learned the maturity date."
On the 19th I was horrified to learn that it had "auto renewed" on 4/6 and was thus past the 10 day period to get the money out. Called the credit union and they were mystified why the maturity date had changed. However they said that since it was an IRA that I could take the funds out at any time, so I wouldn't be locked into the low rate. After sending in the oldest statement, the statement from right before the change and the one right after the change, they reluctantly agreed that they would honor the maturity date of 4/19/22 and give me interest to that date (more on this later).
I asked for the funds to be transfer to an IRA savings account, but the CSR balked at that. I argued that way I would know that they got the account fully cleaned up PRIOR to initiating the transfer. They assured me that there was no need for that. The next day I decided I really was uncomfortable with it not transferred out of the CD for several reasons and gave them the long list of why I thought I really needed to do it that way. The CSR said that they could put it in an IRA savings account, but that would cause me problems since it "wasn't a qualified account". I was flabbergasted. How could they advertise an IRA savings account that wasn't really an IRA savings account! I even asked them that, emphasizing the word IRA part of IRA savings and they had no answer. Reluctantly I agreed to leave it in the CD, but made sure that the funds were transferred BEFORE the grace period from 4/19 was over.
Their website stops showing information on an account once it is closed, so it wasn’t until the new trustee posted the receipt of the transfer did I realize that they had given me NO interest for April. Not even to the 4/6/22 date that they “renewed it” on.
Been fighting for an additional four days to get this fixed. They said that they had no notes of the work with the original CSR and I had to start all over. They claimed that even if I would have come in on 4/6 to withdraw the funds, that I would have gotten $0 in interest since they only post interest quarterly. I said that might be true for cd’s that you break the terms of, but that this was suppose to be considered a maturity not an early withdrawal.
They continued insisting that even at maturity, that they would have given me no interest for a partial quarter. I pointed out that if that was the case, that the only time you could get the advertised rate would be if you opened the account on either the last day of the quarter or the first day of the new quarter, depending on how their software worked. Any other time them not posting interest would result in a lower interest rate. I then said that they never sent me the paperwork on this IRA CD or the truth-in-savings.
I then asked them if they were going to pull the same stunt on my 22 month regular CD that matures late in a quarter, but not the last day of that quarter. They said no since that cd posted monthly. They confirmed that they would pay interest to the maturity date on a cd that posted monthly but not on a cd that posted quarterly. I told them that didn’t make sense, that if one would post interest to maturity then the other should too. I told them that the software was confused since it thought the cd matured back on 4/6 and that it thought I was out of the grace period and thus was doing an early withdrawal. After checking with “leadership”, they continued to insist that it was solely because they don’t pay interest except on quarter ends, even if it matures. I said if that really was the case, they would be in deep trouble with regulators and that I would report them and leave reviews on banking sites like this one. However I also suggested they pull up a customer who has recently closed the same type of cd at maturity and that I was sure that they would find that they actually paid interest to whatever date it matured whether or not it was at a quarter end. Don’t know if they ever actually did that.
Multiple CSR and supervisors said that they would not be paying me my interest for April. I even pointed out that I was a long time customer and did they really want the badwill this was going to cost them. Several days past and after more phone calls asking for each of their bosses to call me, I finally got high enough in the company. That person said that the tech people couldn’t give them a good enough reason as to why they changed the maturity date 2.5 years into a 48 month cd. They said they would grant me the missing interest to 4/19. They also said that the CSR’s were wrong and that they do pay to maturity date on quarterly posting CD’s. He also stated that the IRA savings account IS a qualified IRA account and that the preferred way to handle a IRA CD maturing that needs to have work to transfer it IS to use the IRA savings account to temporarily park the fund – just like I had wanted but was denied.
I had threatened to write this review if they didn’t give me the interest. I decided that I would still write the review since I believe this community deserves to know about the problems with Canvas and since it took a lot of effort to correct.
The CSR definitely don’t believe in giving good customer service. I spent way more of my time than I will get in interest, but I did on principal and it will cost them a whole lot more in wages for their employees than the interest they finally agreed to pay.
Awful Company When It Comes To Understanding COVID Situation
This is the worst company I have worked with on auto loans. They have not taken into consideration people struggling through covid and helping out their customers.
Awful Customer Service
If you miss a payment they threaten you. If there system isn't working properly and it takes an hour to make a car payment then they charge you twice they won't refund your money until 10 days pass!! I have never had such bad customer service before in my life. It's there fault but they don't take responsibility for it!!
Worst Bank
I loved this place as Public Service Credit Union. Had no issues and planned to stay with them forever. They changed to Canvas Credit Union and it was immediately miserable. I had an overdraft charge that I was ok with because I overdrafted my account. They charged me an overdraft fee, then an insufficient funds fee, another overdraft, another insufficient funds fee, over and over until overdrafting my account by about $22 became $-439 somehow. When I reached out to them and said there was no way I was going to pay that and even said the highest I would meet them at was $-100 they told me the fees were applied correctly and the amount wouldn't be changed. I closed the account and they came after me for that amount until I got a notice that they were part of a class action settlement and I ended up receiving money. All in all, they're crooks and I will tell everyone to stay away from them!
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 64778 |
| Year Chartered | 1938 |
| Employees | 704 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.61% |
| Return on Equity - YTD | 6.34% |
| Annual Interest Income | $75.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $4.7B$4.52B |
| Loans | Q1 2025vs Q1 2024 | $4.19B$3.98B |
| Deposits | Q1 2025vs Q1 2024 | $4.2B$4.02B |
| Equity Capital | Q1 2025vs Q1 2024 | $445.8MM$422.1MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $72.6MM$69.6MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $36.8MM$34.5MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |
