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 106th largest credit union in the nation. It was established in 1938 and as of December of 2020, it had grown to 567 employees and 259,764 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.

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?

Canvas No Longer A Public Service

Posted by: |

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.

Awful Customer Service

Posted by: |

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!!

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Health

Health Grade Components

Overall
NCUA #64778
Year Chartered1938
Employees567
Primary Regulator
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD8.91%
Annual Interest Income$136.6MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$3.28B$2.73B
LoansQ4 2020vs Q4 2019$2.60B$2.41B
DepositsQ4 2020vs Q4 2019$2.84B$2.32B
Equity CapitalQ4 2020vs Q4 2019$304.8MM$276.9MM
Loan Loss AllowanceQ4 2020vs Q4 2019$35.7MM$26.6MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$18.7MM$16.1MM
Real Estate OwnedQ4 2020vs Q4 2019$216.00K$7.00K
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+
2.50%*-$2kReverse Tier Savings Account - 1st 5K New Money
OTHER TIERS: 0.10% $50k+ | 0.35% $10k - $50k | 0.50% $5k - $10k | 1.00% $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
0.45%*$100k*-Money Market Plus
OTHER TIERS: 0.20% $10k - $25k | 0.25% $25k - $50k | 0.35% $50k - $100k
0.45%*$100k*-Business Money Market
OTHER TIERS: 0.15% $1k - $25k | 0.20% $25k - $50k | 0.30% $50k - $100k
0.40%*$100k*-Business Jumbo Money Market
OTHER TIERS: 0.15% $1k - $100k
0.40%*$100k*-Jumbo Money Market Account
OTHER TIERS: 0.15% $1k - $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
0.80%$1k-60 Month CD
0.60%$1k-48 Month CD
0.55%$1k-36 Month CD
0.50%$500-Classic Secured Mastercard CD
0.45%$1k-24 Month CD
0.40%$1k-18 Month CD
0.30%$1k-12 Month CD
0.15%$1k-6 Month CD

Canvas Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%$2.5k-60 Month IRA
0.70%$2.5k-48 Month IRA
0.65%$2.5k-36 Month IRA
0.55%$2.5k-24 Month IRA
0.50%$2.5k-18 Month IRA
0.40%$2.5k-12 Month IRA
Locations

Availability



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