In March 2021, Velocity is upgrading to a new processing core – the system that manages almost every transaction the credit union conducts for members – so we can continue to provide you with safe, secure products and services now, and deliver the latest innovations in the future. This investment in our technological foundation will allow us to better serve you for years to come.
We’ll post changes that will directly affect you below, so check back for the latest updates.
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September 17, 2020 - Real Estate Loan Number Changes
In conjunction with our planned core conversion, come changes to Real Estate loan account numbers. Those numbers will ultimately lose the S-12 designation and will only have a 13-digit number associated with it. (In fact, down the line, all loans will soon have a 13-digit account number.)
You may already have noticed this change with your Real Estate loan in online banking. Effective immediately, you can start making ACH payments to your Real Estate loan from a non-Velocity account using just this new 13-digit number and our routing number, 314977133.
From now through the end of February 2021, you may continue using your member number plus the S12 loan type to reference and pay your loan. However, we recommend you switch to the new account number (with no S12) before March 1, 2021 to avoid any payment complications.
To find that number, simply log in to online banking or the Velocity mobile app and view the number in the Real Estate loan account tile (see sample in graphic).
September 9, 2020 - Timing Change on Dividends Paid