2024 Overview
General Credit Union Information
Velocity is an NCUA insured institution located in Austin, TX. It was founded in 1947 and has approximately $1039.08 millions in assets.
Who can join?
There are multiple ways you can join Velocity:
If you live or work in the following areas:
Within a 10-mile radius of any Velocity branch or ATM
Travis County
Williamson County
Hays County
Bastrop County
Caldwell County
If you are related to a member.
If you are part of one of over 100 sponsoring employers and organizations
| NCUA Insured | Yes / State-Chartered |
| Charter Number # | # 68359 |
| Date Established | 1947 |
| Assets | $1,039.08 million |
| Loans | $615.07 million |
| Deposits | $861.75 million |
| Capital | $155.53 million |
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.
Deposit Rates - April 25, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| SAV
|
0.20% | $100 | $499 |
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|
| Regular Share
|
0.25% | $500 | $1,499 |
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|
| Regular Share
|
0.30% | $1,500 | - |
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|
|
Money Market
|
0.60% | $2,000 | $49,999 |
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|
|
Money Market
|
0.75% | $50,000 | $89,999 |
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|
|
Money Market
|
0.85% | $90,000 | $199,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
3.50% | $1,000 | - |
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|
| 6 Mo CD
|
3.50% | $20,000 | - |
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|
| 6 Mo CD
|
3.50% | $90,000 | - |
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|
| 9 Mo CD
|
2.78% | $1,000 | - |
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|
| 9 Month Mini-Jumbo
|
2.78% | $20,000 | - |
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|
| 12 Mo CD
|
4.50% | $1,000 | - |
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|
| 12 Mo CD
|
4.50% | $90,000 | - |
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|
| 18 Mo CD
|
4.35% | $1,000 | - |
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|
| 24 Mo CD
|
4.07% | $1,000 | - |
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|
| 30 Mo CD
|
4.16% | $1,000 | - |
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|
| 36 Mo CD
|
3.75% | $1,000 | - |
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|
| 48 Mo CD
|
3.50% | $1,000 | - |
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|
| 60 Mo CD
|
3.50% | $1,000 | - |
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|
| Variable IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| VIRA
|
0.30% | $1 | $2,000 | Learn More |
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| INTCK
|
0.05% | $750 | $4,999 | Learn More |
Loan Rates - April 25, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Velocity
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 401822 |
6.944% | 6.750% | 1.00 | $6,400 | $2,076 | Learn More |
NMLS ID: 3030 |
7.476% | 7.375% | 1.00 | $3,200 | $2,211 | Learn More |
NMLS ID: 491986 |
Learn More | |||||
NMLS ID: Not a Lender |
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Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Velocity
To upload and update your bank's rates please register.
It is free to register and add rates.
Branches
Below are Velocity branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
VELOCITY is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Velocity Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Velocity. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Velocity | U.S. Average |
|---|---|
| 12.70% | 6.97 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of December 31, 2023, Velocity had $18,935,544 in non-current loans and $1,557,173 in owned assets. To cover these potential losses it had $155,528,727 in net worth and $5,773,582 in loans loss reserves. That gives it a Texas Ratio of 12.70%.
Net Worth
| Velocity | U.S. Average |
|---|---|
| 14.81% | 13.62% |
Velocity FCU has a net worth of 14.81% versus the BestCashCow average of 13.62. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Velocity
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