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 96th largest credit union in the nation. It was established in 1938 and as of September of 2023, it had grown to 718 employees and 293,122 members at 34 locations. Canvas Credit Union 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

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.

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!!

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.

Held A Cashiers Check For Days With No Answer To Why

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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.

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Health

Health Grade Components

Overall
NCUA #64778
Year Chartered1938
Employees718
Primary Regulator
Profit Margin
Return on Assets - YTD0.82%
Return on Equity - YTD8.77%
Annual Interest Income$185MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$4.32B$4.15B
LoansQ3 2023vs Q3 2022$3.87B$3.64B
DepositsQ3 2023vs Q3 2022$3.76B$3.46B
Equity CapitalQ3 2023vs Q3 2022$402.5MM$397.6MM
Loan Loss AllowanceQ3 2023vs Q3 2022$69.8MM$35.1MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$44.1MM$21.5MM
Real Estate OwnedQ3 2023vs Q3 2022$0$0
Rates

Rates for Canvas Credit Union are currently being reviewed.

Locations

Availability



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