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Business

At Velocity, your business is our business.

Are you a local business? So are we!

We set up shop as a local business in 1947, and the credit union has been a part of the Austin community for more than 75 years. Here at Velocity, you’ll find fewer or lower fees for your business accounts than you’ll get from banks.

Your banking experience with us is unique and personalized, with essential financial products and technology provided with just the right mix of friendliness and professionalism.

In addition, as a Velocity business member, your employees become eligible for membership. We’d be happy to visit and explain the benefits of credit unions and how they can switch to Velocity. We can even customize free financial education workshops for them.

Business checking accounts

Want to open a checking account for your business? Just stop by any branch and an associate will help you. Compare our business checking account options here. See below for the documents you will need to bring in order to open an account at the branch.

Classic Business Checking

  • No monthly service charge
  • $100 to open
  • 50 deposit items per month
  • $0.25 per deposit item after the first 50
  • No minimum balance

Service Fees: None
Dividends: None

Choice Business Checking

  • $20 monthly service charge
  • $100 to open
  • 150 deposit items per month
  • $0.25 per deposit item after the first 150
  • $15,000 average daily balance to waive monthly service charge
  • Interest paid on balance of $15,000 or more

Service Fees: None if average daily balance remains equal or above $15,000, otherwise $20.00
Dividends: Paid on balance of $15,000 or more

Other business accounts and services

We offer a host of services designed to fulfill your business needs:

  • Savings accounts
  • Merchant card services
  • Business debit cards
  • Safe deposit boxes
  • Night depository services
  • Coin exchange

Any business or association located in our five-county area is eligible to become a Velocity member. See below for required documentation and then stop by any branch today to get started!

Here’s what you’ll need in order to apply

For all accounts, you will need:

  • A Velocity agreement for business accounts
  • A business account authorization resolution
  • Please note: Documents require a 24-48 hour turnaround period for approval before a business account can be opened.

You’ll also need other documents for the following business types:

Introducing Clover

Merchant solutions to help simplify your business

BusinessClover offers all-in-one solutions, tailored and scalable to meet the unique needs of your business. Whether you’re an artist, craftsman, restaurant, retailer, or services business, Clover’s flexibility helps simplify operations so you can focus on what you do best — moving your business forward.

With Clover you can:

  • Accept contactless payments easily and more securely via native wifi and LTE-enabled mobile solutions and countertop point-of-sale solutions
  • Run your business more efficiently, such as managing inventory, employee schedules, payroll, and more
  • Grow your business by uncovering new insights and comparing sales against competitors as well as generating more visits and sales through mobile loyalty and rewards programs

For more information or to see a demonstration of what Clover can do for you, call to speak with our business consultant today!

Ashley Becker, 737.226.9115
[email protected]

Unincorporated Association

  • Charter Bylaws or Letter of Purpose
  • Copy of the most recent annual meeting minutes
  • IRS Employer Identification Number
  • Government ID and Social Security number for signers

Sole Proprietorship

  • Assumed Name Certificate (if applicable)
  • IRS Employer Identification Number (if applicable)
  • Government ID and Social Security number for signers

General Partnership

  • Assumed Name Certificate
  • Partnership Agreement (if applicable)
  • IRS Employer Identification Number
  • Government ID and Social Security number for signers

Limited Partnership

  • Assumed Name Certificate or Certificate of Formation from Secretary of State
  • Partnership Agreement (if applicable)
  • IRS Employer Identification Number
  • Government ID and Social Security number for signers

Limited Liability Partnership

  • Partnership Registry from Secretary of State
  • Partnership Agreement (if applicable)
  • IRS Employer Identification Number
  • Government ID and Social Security number for signers

Limited Liability Company

  • Certificate of Formation from Secretary of State
  • Operating Agreement
  • IRS Employer Identification Number (if applicable)
  • Government ID and Social Security number for signers

Corporation S

  • Certificate of Formation from Secretary of State
  • Articles of Incorporation
  • Annual Meeting Minutes
  • IRS Employer Identification Number (if applicable)
  • Government ID and Social Security number for signers

Corporation C and 501 (c) (3)

  • Requires documentation review to determine membership eligibility
  • Certificate of Formation from Secretary of State
  • Articles of Incorporation
  • Annual Meeting Minutes
  • IRS Employer Identification Number (if applicable)
  • Government ID and Social Security number for signers