Our annual report showcases our commitment to the ideals of the credit union movement, while providing you—our members—with a secure and reliable local banking alternative.
To our valued members:
The board of directors and employees of Velocity Credit Union are pleased to report another year of upholding our commitment to the ideals of the credit union movement while providing you, our members, a secure financial institution, and local banking alternative.
Velocity Credit Union had another successful year and remains healthy and stable. As of December 2024, Velocity was very well capitalized with a net worth of 14.31%. Total consolidated assets at year-end were $1 billion and return on assets was .24%. Velocity Credit Union is financially secure with a strong foundation for future success.
We concluded our 76th year of helping members in the greater Austin area achieve their financial goals with several new benefits and services. We continued to expand our Mortgage Lending department to help members seeking conventional mortgages (including jumbo loans), refinances, and home equity and improvement loans.
Members love our upgraded Online Banking experience. It puts all their most-needed information, activity, and services front-and center in an easy to navigate, intuitive interface. Transferring money, paying bills, managing credit cards, and depositing checks has never been so easy and more mobile banking improvements are on the way.
For those of you who prefer branch visits, we’ve made that more convenient, too. Our Interactive Teller Machines (ITMs) have rolled out at our Cedar Park, North Austin, and South Austin (Slaughter Lane) locations, joining the downtown branch. The cutting-edge units allow members to conduct many formerly in-branch-only transactions in the drive-thru lanes from the comfort of their own vehicles, while still enjoying face-to-face service from our member services representatives “behind the screen”.
On the community front, we’re especially grateful to continue supporting Operation Blue Santa and Habitat for Humanity’s “House That Credit Unions Built”. Giving back to our community is one of our favorite things! Last year, we served more than 76,000 members. We value each one of you — and we count on your participation as part of the cooperative that makes us who we are.
Velocity’s commitment is to provide you with the best customer service experience possible, whether that’s through our personal service or more high-tech conveniences. We appreciate the faith you place in us to meet your financial needs and will continue to work hard to make Velocity Credit Union worthy of being your trusted financial partner for years to come.
Kasha Bartholomew
Chairperson
Debbie Mitchell
President/CEO