Intro – Velocity Credit Union Reviews & Ranking

Velocity Credit Union was recently ranked and reviewed by AdvisoryHQ as a top rated credit union. Firms on our top rated lists were selected after they successfully passed AdvisoryHQ’s groundbreaking, four-step banks and credit unions selection methodology

Click here for a step-by-step breakdown of the methodology and selection process used during our Velocity Credit Union review: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.

The Velocity Credit Union review below provides a detailed review, including some of the factors used by AdvisoryHQ News in its ranking and selection of Velocity Credit Union.

Velocity Credit Union Review

Originally chartered in 1947 as a credit union to serve the needs of Austin city employees, Velocity Credit Union is now one of the largest financial institutions in Texas. With assets totaling over $800 million and 75,000 members, this Austin credit union provides a safe and stable place for locals to do their banking.

Velocity Credit Union Reviews

Source: Velocity Credit Union (Blogspot)

Velocity Credit Union states that it is committed to meeting the needs and wants of its members through cooperation, self-help, independence, and non-profit operation. This dedication and commitment to its members is just one of the reasons this Austin area credit union is able to retain such a high membership level.

Key Factors Leading Us to Rank This Firm as One of This Year’s Top Credit Union Firms

Upon completing our Velocity Credit Union reviews, Velocity Credit Union was included in AdvisoryHQ’s ranking of this year’s best credit unions based on the following factors. 

Velocity Credit Union Review: Energy Star Loan Program

Velocity offers a loan program with competitive rates for homeowners seeking to make energy-related improvements to their home. The loan can be used to make improvements such as:

  • Energy-efficient air conditioning and heating systems
  • Attic insulation
  • Duct system improvements
  • Caulking
  • Weather stripping
  • Solar shading for windows

The Energy Star Loan Program is available to homeowners of residential properties that are at least 10 years old. The program comes with rates as low as 1.99% APR and is easy for members to qualify for, requiring a credit score of just 600 in order to qualify.

Velocity Credit Union Review: 33 Month Step-Up Certificate

Velocity Credit Union’s 33 Month Step-Up certificates are a great way for members to invest without worrying about being locked into a low rate if rates go up over the term of the certificate. The certificates are available as a traditional certificate or as an IRA certificate.

These certificates require a minimum balance of $1,000 and have dividends compounded quarterly. Certificate holders may step-up their rate one time on the one-year anniversary date of their certificate.

Current certificate rates at this Austin area credit union are competitive: 1.30% APY for IRA certificates and 1.30% APY for traditional certificates.

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Velocity Credit Union Review: Youth Club

Velocity Credit Union is an Austin credit union that is committed to helping Austin’s youth learn good saving habits, helping them to grow into financially responsible adults. The Youth Club is open to all children aged 17 and under, and it is easy for youngsters to get started. With an opening deposit of just $5, children can get on the road to building their very own nest egg.

There are many advantages offered to kids for joining the Youth Club, including a special prize for straight A report cards and fun events. There are also prizes awarded for each savings milestone met. Youth Club members receive:

  • Foam dinosaur when they save $50
  • Sunglasses when they save $100
  • Color changing water bottle when they save $250
  • Seed coins when they save $500
  • $25 Velocity gift card when they save $1,000

These incentives are a great way to encourage kids to begin saving for the future.

Velocity Credit Union Review: Totally Free Checking

Velocity Credit Union offers their Totally Free Checking account to members in order to meet their needs and wants. The account lives up to its name with no hidden fees or charges to catch members by surprise.

This account has no fees and no minimum balance or direct deposit requirement. Totally Free Checking also comes with free online banking and unlimited check writing.

In addition to reviewing the above Velocity Credit Union review, you can click on any of the links below to browse exclusive reviews of AdvisoryHQ’s top credit unions:

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AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.