Velocity Credit Union

Overview / Commentary
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 430th largest credit union in the nation. It was established in 1947 and as of March of 2024, it had grown to 212 employees and 81,727 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

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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 (7)

My experience at my credit union

I have been a member of my credit union for over seven years. I have always had a good experience with them. When I have gone into the lobby to meet with a teller the lines have moved quickly and I have always been greeted with a professional and friendly attitude from the teller. Customers are also allowed to turn change into dollars from the change machine, free of charge. I am also enrolled in a Rewards program. For every transaction ran as a credit card I accumulate points that can be used for a variety of different things. On the times that I have used the customer service phone number I have always had my issue or question resolved right away. Good experience overall and I am a satisfied customer!

Great Credit Union, Wonderful Personal Service

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Velocity has been around Austin for more than 60 years.  Love the friendly and knowledgable employees.  You are treated like a VIP here, not a "number."

Great local CU - But behind on Tech

I started at velocity because my dad worked for the City of Austin which had a branch in it's main office. Velocity Credit Union is the perfect choice for those looking for a no-frills bank without wanting to pay many fees or worry about the shady practices large banks like Wells Fargo has recently been convicted of participating in. The bank has great customer service and the people that work there are always ready to help. The two downsides to this credit union are number of locations and web services. In terms of number of locations, it is better than most credit unions but nothing near most banks, even in Austin where they are big there's only 4 locations I know of, as opposed to ten plus Wells Fargo banks, for example. The second downside is their online services and app, the online system works fine but looks dated and the app is well behind those of large banks. It does the job but for more advanced features and GUI wise it is 5 or so years behind. However, overall, they are great as they are free for nearly everything except checks, offer great service, and helped me tremendously with getting my mortgage later on since I had already been a checking customer for so long.

3 Year Rate

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

Not Competative These Days

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I have been with Velocity Credit Union for more than 30 years. The employees are great with wonderful customer service. I wonder why Velocity is paying such low CD, share, money market rates to their members. They use to be very competitive. I liked the fact I could do all my business with them, but that has changed and I am looking for new opportunities.

Don't Bother If You Use Other Financial Institutions

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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.

Velocity Credit Union Crooks

DO NOT DO BUSINESS WITH THESE PEOPLE! They are crooks. They will nickel & dime you any way they can. I tried to be a responsible customer, setting up auto-payments, on their deadline, but they chose to charge me a day after to collect late fees. And get this, even though they saw I had auto-withdraw, they still won't reverse their late fees. Stay far, far away...they are definitely not worth your time or money!


Health Grade Components

NCUA #68359
Year Chartered1947
Primary Regulator
Profit Margin
Return on Assets - YTD0.03%
Return on Equity - YTD0.26%
Annual Interest Income$11.7MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$1.04B$1.02B
LoansQ1 2024vs Q1 2023$614.3MM$577.3MM
DepositsQ1 2024vs Q1 2023$860.3MM$892.8MM
Equity CapitalQ1 2024vs Q1 2023$116.4MM$121.5MM
Loan Loss AllowanceQ1 2024vs Q1 2023$17MM$6.2MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$5.7MM$4.7MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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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

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

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

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

Velocity Credit Union CD Rates

4.65%$1k-12 Month Share Certificate
4.65%$90k-1 Year Jumbo Share Certificate
4.45%$1k-18 Month Share Certificate
4.16%$1k-30 Month Share Certificate
4.07%$1k-2 Year 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

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

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

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