Advertising Disclosure
  1. Banks
  2. Velocity Credit Union

Velocity Credit Union


Overview / Commentary
www.velocitycu.com
512-469-7000
4515 Seton Center Pkwy Suite 165
Austin, TX 78759

Velocity Credit Union is headquartered in Austin and is the 33rd largest credit union in the state of Texas. It is also the 429th largest credit union in the nation. It was established in 1947 and as of June of 2024, it had grown to 211 employees and 76,654 members at 7 locations. Velocity Credit Union's CD rates are 5X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Velocity Credit Union is open anyone through joining the the Paramount Theatre Association. Membership is also open to those who live or work in the Texas counties of Bastrop, Caldwell, Hays, Travis, or Williamson, or within a 10-mile radius of any Velocity branch or ATM.
See current membership details

Related Posts

View all posts from:

12/22/15 - Velocity CU (Easy Membership) Has 33-Month Certificate Promo
9/5/15 - Velocity CU 5-Year CD Promotion Available Through September
8/6/15 - Dog Days Of Summer 5 Year CD 2.22%
4/1/15 - Velocity CU 30-Month CD/IRA Promotional Extended Through April 30, 2015
3/29/15 - Velocity CU 30 Month CD Promotion
8/12/14 - Velocity CU 5-Year CD/IRA Promotional Extended Through August 30, 2014
8/3/14 - Velocity Credit Union (5 Yr CD, 2.02%APY) Limited Time Offer ANYONE CAN JOIN THIS CU
11/19/11 - Velocity Credit Union Extends CD Promotion - CD Application & Deposit Insurance Issues
11/8/11 - Special CD Rates at Velocity Credit Union in Texas - Easy Membership
11/7/11 - Velocity Credity Union Limited Time CD Rates
9/15/11 - Top Long-Term CD Rates at Velocity Credit Union - Easy Membership
3/7/11 - Special 2-Year & 3-Year CD Rates at Velocity Credit Union in Texas - Easy Membership
2/11/11 - Update to Velocity Credit Union's 18-Month CD & 5-Year CD Rates
1/28/11 - Special 18-Month CD and IRA CD Rates at Velocity Credit Union in Texas - Easy Membership
12/16/10 - Top 5-Year CD and IRA CD Rates at Velocity Credit Union in Texas - Easy Membership
4/25/10 - Special 24-Month CD Rate at Velocity Credit Union in Austin Texas - Easy Membership
3/2/10 - Velocity Credit Union's 9-Month CD Special - Easy Membership
2/1/10 - 15-Month CD Special at Velocity Credit Union - Easy Membership But Soon To Be ASI-Only
12/4/09 - Velocity Credit Union in Texas Begins Voting Process for Switch to Private Insurance
2/20/09 - 3.14% 12-Month CD at Velocity Credit Union in Texas - Easy Membership
2/3/09 - 3.44% 18-Month CD at Velocity Credit Union in Texas - Easy Membership
6/24/08 - 4.06% 15-Month CD at a Texas Credit Union (Velocity).
4/23/08 - 4.06% 12-Month CD at a Texas Credit Union (Velocity).
3/15/08 - 4.32% 9-Month CD at a Texas Credit Union (Velocity).
4/11/07 - $30 Checking Account Bonus at a Texas Bank (Velocity)

Reviews (2)

3 Year Rate

Posted by: |

Just went to their site and the 3 year CD rate is just 3.44%

2

Don't Bother If You Use Other Financial Institutions

Posted by: |

Some banks and CUs use ChexSystems to see inquiries from financial institutions. If you are opening multiple accounts at different places to stay under the NCUA, FDIC $250K limits, these inquiries will be used against you by Velocity and your application will be denied. I guess the default assumption is that applicant is laundering drug money.

You will not be told why you were denied, nor asked why you have several inquiries. You will receive no notice other than Application Denied.

This just happened to me. My FICO score is 820, btw. Just be aware of this before you bother applying, if you are managing significant assets across multiple institutions.

I recommend looking at NASA FCU and Connexus instead. I have used both for years without ever encountering problems like this, and their CD rates are ALWAYS at the high end of the spectrum, while loan rates are competitive or better.

If you are wanting a place to open a checking account, or to get a loan on your beater Camry, or to hold a couple thousand dollars or less, Velocity may be a good choice for you. Beyond that, probably not.....

Comments or related questions welcome.

5


Health
B+

Data as of Q2 2024

Learn why bank health matters

Health Grade Components

Overall
NCUA #68359
Year Chartered1947
Employees211
Primary Regulator
Profit Margin
Return on Assets - YTD0.24%
Return on Equity - YTD2.08%
Annual Interest Income$23.8MM
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$1.04B$999.2MM
LoansQ2 2024vs Q2 2023$612.4MM$580.6MM
DepositsQ2 2024vs Q2 2023$853.7MM$872MM
Equity CapitalQ2 2024vs Q2 2023$119.5MM$118.2MM
Loan Loss AllowanceQ2 2024vs Q2 2023$16.7MM$5.4MM
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$7.6MM$4.4MM
Real Estate OwnedQ2 2024vs Q2 2023$0$0
Rates
Skip to rates for:
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Velocity 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 Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$50k*-Traditional IRA Savings
OTHER TIERS: 0.30% → $0 - $2k | 0.40% → $2k - $10k | 0.45% → $10k - $50k
0.50%*$50k*-Roth IRA Savings
OTHER TIERS: 0.30% → $0 - $2k | 0.40% → $2k - $10k | 0.45% → $10k - $50k
0.30%*$1.5k*-Regular Share Savings
OTHER TIERS: 0.20% → $100 - $500 | 0.25% → $500 - $1.5k

Velocity Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$200k*-Money Market Account
OTHER TIERS: 0.60% → $2k - $50k | 0.75% → $50k - $90k | 0.85% → $90k - $200k

Velocity Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$750-Check Plus Checking
0.05%$500-Regular Checking
0.05%$15k-Choice Business Checking

Velocity Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.65%$1k-12 Month Share Certificate
4.65%$90k-1 Year Jumbo Share Certificate
4.45%$1k-18 Month Share Certificate
4.07%$1k-2 Year Share Certificate
3.90%$1k-30 Month Share Certificate
3.75%$20k-9 Month Mini-Jumbo Share Certificate
3.75%$1k-3 Year Share Certificate
3.75%$1k-9 Month Short Term Share Certificate
3.50%$20k-6 Month Mini-Jumbo Share Certificate
3.50%$1k-4 Year Share Certificate
3.50%$1k-5 Year Share Certificate
3.50%$1k-182 Day Short Term Share Certificate
3.50%$90k-6 Month Jumbo Share Certificate
1.00%$20k-91 Day Mini-Jumbo Share Certificate
1.00%$1k-91 Day Short Term Share Certificate
1.00%$90k-3 Month Jumbo Share Certificate

Velocity Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.70%$1k-1 Year IRA Certificate
4.37%$1k-2 Year IRA Certificate
4.27%$1k-18 Month IRA Certificate
4.06%$1k-3 Year IRA Certificate
4.06%$1k-4 Year IRA Certificate
4.06%$1k-5 Year IRA Certificate
Locations


Velocity Credit Union Locations
Branch Office900 Round Rock AveRound Rock, TX 78681-4510
Branch Office705 E 12th StAustin, TX 78701-1909
Branch Office1201 W Braker LnAustin, TX 78758-3844
Branch Office9300 S Interstate 35 Bldg IAustin, TX 78748-1751
Branch Office1230 E New Hope DrCedar Park, TX 78613
Corporate Office4515 Seton Center Pkwy Suite 165Austin, TX 78759-5290
Branch Office4220 S Lamar Blvd Ste 100Austin, TX 78704-7924

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.