Velocity Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	HOW THEY COMPARE
2.98%	5-year CD	3.10% - Goldman Sachs Bank USA High-yield 5 Year CD
3.08%	5-year IRA	2.19% - National Average
2.47%	3-year CD	2.85% - Synchrony Bank 36 Month CD

View all Velocity Credit Union rates »

Overview / Commentary

www.velocitycu.com

512-469-7000

610 E 11th St
Austin, TX 78701-2621

Velocity Credit Union is headquartered in Austin and is the 29^th largest credit union in the state of Texas. It is also the 361^st largest credit union in the nation. It was established in 1947 and as of June of 2018, it had grown to 182 employees and 86,528 members at 6 locations. Velocity Credit Union's CD rates are 2X the national average, and it has an A 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.
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Reviews (5)

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My experience at my credit union

Posted by: marisolphelps | Feb 10, 2018

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!

Comment

2

Great Credit Union, Wonderful Personal Service

Posted by: BarbaraB | Apr 28, 2012

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."

Comment

7

Great local CU - But behind on Tech

Posted by: barongraves | Feb 1, 2018

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.

Comment

1

Not Competative These Days

Posted by: Anonymous | Oct 27, 2012

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.

Comment

7

Velocity Credit Union Crooks

Posted by: John E Thompson | Jun 17, 2016

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!

Comment

6

Health

A

Data as of Q2 2018

Learn why bank health matters

Health Grade Components

Overall
NCUA #	68359
Year Chartered	1947
Employees	182
Primary Regulator

Profit Margin
Return on Assets - YTD	1.2%
Return on Equity - YTD	10.53%
Annual Interest Income	$18.4MM

Assets and Liabilities
Assets	Q2 2018vs Q2 2017	$843.1MM$854.1MM
Loans	Q2 2018vs Q2 2017	$659.8MM$679.4MM
Deposits	Q2 2018vs Q2 2017	$702.8MM$693.0MM
Equity Capital	Q2 2018vs Q2 2017	$96.4MM$90.1MM
Loan Loss Allowance	Q2 2018vs Q2 2017	$14.9MM$12.3MM
Unbacked Noncurrent Loans	Q2 2018vs Q2 2017	$5.0MM$6.2MM
Real Estate Owned	Q2 2018vs Q2 2017	$0$0

Rates

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Savings
Money Market
Checking
CD
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* 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

APY	MIN	MAX	ACCOUNT NAME
0.45%^*	$50k^*	-	Traditional IRA Savings
OTHER TIERS: 0.30% → Up to $2k \| 0.35% → $2k - $10k \| 0.40% → $10k - $50k
0.45%^*	$50k^*	-	Roth IRA Savings
OTHER TIERS: 0.30% → Up to $2k \| 0.35% → $2k - $10k \| 0.40% → $10k - $50k
0.20%	$100	-	Regular Share Savings
0.20%	$5	-	Rising Star (Youth) Savings
0.20%	$5	-	Cosmic Teen (Youth) Savings

Velocity Credit Union Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.50%^*	$200k^*	-	Money Market Account
OTHER TIERS: 0.25% → $2k - $50k \| 0.30% → $50k - $90k \| 0.40% → $90k - $200k

Velocity Credit Union Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.20%	$15k	-	Choice Business Checking
0.15%^*	$20k^*	-	Check Plus Checking
OTHER TIERS: 0.05% → $750 - $5k \| 0.10% → $5k - $20k
0.05%	$500	-	Regular Checking

Velocity Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
2.98%	$1k	-	5 Year Share Certificate
2.68%	$1k	-	4 Year Share Certificate
2.51%	$2.5k	-	25 Month Share Certificate Promo
2.47%	$1k	-	3 Year Share Certificate
2.22%	$1k	-	30 Month Share Certificate
2.17%	$1k	-	2 Year Share Certificate
2.07%	$90k	-	1 Year Jumbo Share Certificate
2.01%	$1k	-	18 Month Share Certificate
1.96%	$1k	-	12 Month Share Certificate
1.31%	$20k	-	9 Month Mini-Jumbo Share Certificate
1.31%	$90k	-	6 Month Jumbo Share Certificate
1.21%	$20k	-	6 Month Mini-Jumbo Share Certificate
1.21%	$1k	-	9 Month Short Term Share Certificate
1.00%	$1k	-	182 Day Short Term Share Certificate
0.60%	$90k	-	3 Month Jumbo Share Certificate
0.40%	$20k	-	91 Day Mini-Jumbo Share Certificate
0.40%	$1k	-	91 Day Short Term Share Certificate
0.20%	$100	-	2 Year Small Savers Share Certificate

Velocity Credit Union IRA Rates

APY	MIN	MAX	ACCOUNT NAME
3.08%	$1k	-	5 Year IRA Certificate
2.78%	$1k	-	4 Year IRA Certificate
2.57%	$1k	-	3 Year IRA Certificate
2.51%	$2.5k	-	25 Month IRA Certificate Promo
2.27%	$1k	-	2 Year IRA Certificate
2.12%	$1k	-	18 Month IRA Certificate
2.07%	$1k	-	1 Year IRA Certificate

Locations

Velocity Credit Union Locations
Branch Office	4220 S Lamar Blvd Ste 100	Austin, TX 78704-7924
Branch Office	900 Round Rock Ave	Round Rock, TX 78681-4510
Branch Office	610 E 11th St	Austin, TX 78701-2621
Branch Office	1201 W Braker Ln	Austin, TX 78758-3844
Branch Office	9300 S Interstate 35 Bldg I	Austin, TX 78748-1751
Branch Office	1230 E New Hope Dr	Cedar Park, TX 78613

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