Velocity Community Credit Union

Overview / Commentary
2801 Pga Blvd Ste 120
Palm Beach Gardens, FL 33410

Velocity Community Credit Union is headquartered in PALM BEACH GARDENS and is the 37th largest credit union in the state of Florida. It is also the 733rd largest credit union in the nation. It was established in 1958 and as of December of 2023, it had grown to 82 employees and 24,415 members at 3 locations. Velocity Community Credit Union's savings rates are 8X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Velocity Community Credit Union is open to those who live, work, worship, volunteer, or attend school in Palm Beach County, Florida or have family members who are eligible for membership.
See current membership details

Reviews (3)

Member 10 Years- No Complaints

Posted by: |

I have been a member at nearly 10 different financial institutions over the last 10 years and nothing comes close to Velocity Community Credit Union. The people in the bank are very helpful, polite, and down to earth. The enviroment is always pleasant and you never get the fake friendly vibe that most banks/credit unions put on to try and make their quota. I have never been on hold for more than a minute or two before I am speaking to a real person. I trust this Credit Union with every element of my banking needs. I can gurantee that you will not be disappointed if you become a member. Last not I paid more dumb fees at Chase in one month than I did in ten years at Velocity. Hope this helps!

Velocity Credit Union is a great place to do your banking

I've had some great experiences banking through Velocity. I have financed car loans through this credit union every time I've bought a car and their rates have been very competitive. I recommend them to every car buyer I know.

I also keep my checking and savings at this credit union. I carry Velocity debit and credit cards. I've had very good experiences with their staff and find it's easy to get fast, reliable information from them when you need it. Velocity feels like an old fashioned neighborhood bank. There is not a lot of turnover of staff so it's easy to get to know them and have a personal relationship with each person. I really like this feature.

I like their communication/media department too. They send out email to keep you aware of specials they're running. This is especially helpful during the holidays when they offer many different features to their members.

All in all, I've got to say, that Velocity is a place I like to do business. I trust them. They give you great rates on loans when you need them. They're easy to deal with when you've got a problem.

I'd say they're top rate.

Very Few Negatives

Posted by: |

Everything the previous review said is accurate. I only have a few negatives. Direct deposits are not made to your account till 9am that morning. It would be nice to have my money available that morning when I wake at 4am. While you can eventually get used to it, it is very inconvient. They also don't have a direct line to the Federal reserve and electronic bill pays can take up to three days when it should only take one. I like this credit union and will continue to use it. The people that work their are great and down to earth. They go out of their way to make my experience a good one. I sure hope they can improve on the very few negatives they have.


Health Grade Components

NCUA #12458
Year Chartered1958
Primary Regulator
Profit Margin
Return on Assets - YTD1.04%
Return on Equity - YTD9.62%
Annual Interest Income$18.4MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$488MM$495.9MM
LoansQ4 2023vs Q4 2022$297.5MM$282.3MM
DepositsQ4 2023vs Q4 2022$413.9MM$441.2MM
Equity CapitalQ4 2023vs Q4 2022$52.4MM$47.6MM
Loan Loss AllowanceQ4 2023vs Q4 2022$1.5MM$1MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$908K$465K
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not Velocity Community 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.

Velocity Community Credit Union Savings Account Rates

4.00%$10k$50kHigh Yield Savings
1.50%$5-Health Savings Accounts
OTHER TIERS: 0.85% $2.5k - $75k | 1.25% $75k - $100k
1.35%*$100k*-Coverdell Education Savings Account
OTHER TIERS: 0.85% $2.5k - $75k | 1.25% $75k - $100k
OTHER TIERS: 0.10% $5 - $2.5k
0.15%*$2.5k*-Holiday Club Account
OTHER TIERS: 0.10% Up to $2.5k
0.15%*$2.5k*-"You name It" Account
OTHER TIERS: 0.10% Up to $2.5k

Velocity Community Credit Union Money Market Rates

1.35%*$100k*-Money Market Share Account
OTHER TIERS: 0.85% $2.5k - $75k | 1.25% $75k - $100k

Velocity Community Credit Union CD Rates

5.00%$1k-6 Month MemberPLUS CD
4.95%$1k-6 Month Member CD
4.95%$250-6 Month Youth CD
4.00%$5k-60 Month MemberPLUS CD
3.95%$5k-60 Month Member CD
3.75%$1k-12 Month MemberPLUS CD
3.70%$1k-12 Month Member CD
3.70%$250-12 Month Youth CD
3.50%$5k-48 Month MemberPLUS CD
3.45%$5k-48 Month Member CD
3.00%$5k-36 Month MemberPLUS CD
2.95%$5k-36 Month Member CD
2.50%$1k-18 Month MemberPLUS CD
2.50%$5k-24 Month MemberPLUS CD
2.45%$1k-18 Month Member CD
2.45%$5k-24 Month Member CD
2.45%$5k-24 Month Bump-Up Member CD

Velocity Community Credit Union IRA Rates

5.00%$1k-6 Month MemberPLUS IRA
4.95%$1k-6 Month Member IRA
4.00%$5k-60 Month MemberPLUS IRA
3.95%$5k-60 Month Member IRA
3.75%$1k-12 Month MemberPLUS IRA
3.70%$1k-12 Month Member IRA
3.50%$5k-48 Month MemberPLUS IRA
3.45%$5k-48 Month Member IRA
3.00%$5k-36 Month MemberPLUS IRA
2.95%$5k-36 Month Member IRA
2.50%$1k-18 Month MemberPLUS IRA
2.50%$5k-24 Month MemberPLUS IRA
2.45%$5k-24 Month Member IRA
2.45%$1k-18 Month Member IRA
2.45%$5k-24 Month Bump-Up Member IRA

Velocity Community Credit Union Locations
Branch Office563 N State Road 7Royal Palm Beach, FL 33411-3524
Branch Office2801 PGA BLVD STE 120PALM BEACH GARDENS, FL 33410
Branch Office6779 W Indiantown RdJupiter, FL 33458-4654

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