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.

So Frustrating

Posted by: VStees | Oct 18, 2019

These guys are awful. Don't waste your time here. I have been with them since 2010. They constantly cancel or freeze my debit card because of suspicious fraud, 2 times a year at least, with zero warning or confirmation. They have a fraud department that seems to be disconnected from their bank (3rd party?) So when you try to resolve anything you are passed between the different departments in Canvas, and then have to deal with an external source and go through that painfully long process. Than call back to Canvas because the 3rd party didn't do their job right. I than have to constantly update all of my automatic bill payments that are set up, that is extremely time consuming and makes some accounts late = even more calls. Since becoming Canvas Credit Union, their mobile website and desktop online banking is very limiting. You cant read a full description of the charge on the mobile site. Used to be able to trasnfer money from my credit card to my checking if needed, not any longer. They are constantly having 'sorry' were down notices and features are literally not even there any longer, like to delete a scheduled upcoming payment, they dont always show up, so you have to delete the entire bill payee. Then re-enter them in, more lost time. Horrible customer service too, even with a supervisor, very patronizing and ignorant, they don't listen. On the hunt for another CU!!!

Horrible Fees And Customer Service

Like many other reviews here, the service has just gone away. Once you finally step up to a teller, they are quick to sell you anything when all I do is simple banking. Public Service Credit Union, prior to changing to Canvas, was great, not so now people. They have a "greeter" at the door at all locations now, encouraging you to use their ATM for transactions, saying the wait could be very long to see a teller. Let me tell you something, they don't even own, nor control the ATM's, so if your deposit is lost, as mine was, it takes the third party that runs the ATM to try and find the mistake. Well they never found mine, go figure. Canvas flat out has the worst fees to transfer your money to vendors, as much as $16 to transfer $100 in two days!
There are sooooo many better choices, I'm moving my business to 1st bank for the time being, ANYTHING is better than Canvas, PLEASE READ REVIEWS, Canvas will not be around long.

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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
2.20%$1k-60 Month CD
2.10%$1k-21 Month CD
1.90%$1k-48 Month CD
1.75%$1k-6 Month CD
1.56%$1k-24 Month CD
1.40%$1k-12 Month CD
1.40%$1k-36 Month CD
1.15%$1k-18 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

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