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Business

Designed to give your business maximum value and services

Are you a small, local business? So are we! Since 1947, Velocity has built a reputation for knowledgeable, personalized service – and we bring that same expertise to our business offerings. Plus, you’ll enjoy fewer and lower fees compared to banks and other credit unions.

We offer a variety of solutions custom-built to fit the needs of your business:

Spend & Save Options
• Checking account options
• Savings
• Certificates
• Mastercard business debit and credit cards

Convenience Options
• App with mobile deposit
• Merchant card services
• Safe deposit boxes
• Night depository services
• Coin and currency exchange

Employee Banking Benefits
As a Velocity business member, your employees can enjoy all the benefits of banking with us. We’re happy to visit and share the details with them!

Most businesses and associations in the five-county Austin area are eligible to join Velocity.

Our Business Checking Accounts come loaded with extra value, services, and options for greater rewards. Choose the account that is right for you.

Classic Business Checking Choice Business Checking
Overview
Account Summary Our free small business account is designed for owner-operators, limited liability corporations, limited liability partnerships and club accounts. This is also an ideal account for gig and side-hustle small businesses. Our small business account for businesses that need more sophisticated solutions for their growing business.
Membership Fee Membership is just $5.00 to join, and we’ll credit it to your business savings account. Membership is just $5.00 to join, and we’ll credit it to your business savings account.
Balance Requirements
Opening Balance $100 $100
Minimum Balance None None
Service Fees $0 None, if the average daily balance remains equal to or above $15,000; otherwise, $20.00 per month
Free Savings Account with Interest ✓
Available		 ✓
Available
Business Money Market Account ✓
Available		 ✓
Available
Direct Deposit Requirement No, optional if desired No, optional if desired
Dividends None Paid on balance of $15,000 or more
Features & Benefits
Free Small Business Online Banking ✓ ✓
Free Mobile app ✓ ✓
Free Text Alerts ✓ ✓
Free Business Debit Card
✓
✓
Free Business Rewards Credit Card ✓ ✓
Free CardLock app ✓ ✓
Free Direct Deposit (Get Paid Two Days Early!) ✓ ✓
Free eStatements ✓ ✓
Free eAlerts ✓ ✓
Access, Deposit or Send Money
Free Velocity ATM Transactions and Free CO-OP ATM Transactions ✓
Free at all Velocity ATMs and free ATM access at over 400 Alliance of Austin Credit Unions ATMS (List)		 ✓
Free at all Velocity ATMs and free ATM access at over 400 Alliance of Austin Credit Unions ATMS (List)
Free Mobile Check Deposit ✓ ✓
Additional Benefits
Free ID Theft Protection* ✓ ✓
Free Business Investment Advisor Consultation ✓ ✓
Membership Eligibility for your employees and financial education workshops ✓ ✓
For more information or to open an account:
Find a branch Find a branch
Email us: [email protected] Email us: [email protected]
Give us a call – 512.469.7047 Give us a call – 512.469.7047

*Available through Mastercard.

Here’s what you’ll need to apply

Any business or association located in the five-county Austin area is eligible to become a Velocity member. See below for required documentation and then stop by any branch today or contact Phil Stark at [email protected] or 512.469.7047.

For all accounts, you will need:

  • A Velocity agreement for business accounts
  • A business account authorization resolution

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

Unincorporated Association/Organization

  • Signed Charter or Organization Bylaws
  • Most recent meeting minutes describing the intent to open an account with the credit union and who the designated signers will be (signed by 2 officials)
  • IRS Employer Identification Number Letter
  • Government ID and Social Security number for signers

Sole Proprietorship/DBA

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

General Partnership (GP)

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

Limited Partnership (LP)

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

Limited Liability Partnership (LLP)

  • Registration of Limited Liability Partnership from Secretary of State
  • IRS Employer Identification Number Letter
  • Government ID and Social Security number for signers
  • Signed Partnership Agreement (if applicable)

Limited Liability Company (LLC)

  • Certificate of Formation from Secretary of State
  • Operating Agreement or Signed Articles of Organization
  • IRS Employer Identification Number Letter
  • Government ID and Social Security number for signers

Single Member Limited Liability Company

  • Certificate of Formation from Secretary of State
  • IRS Employer Identification Number Letter
  • Government ID and Social Security number for signers

Corporation

  • Certificate of Formation from Secretary of State
  • Articles of Incorporation or Bylaws
  • Most recent meeting minutes describing the intent to open an account with the credit union and who the designated signers will be (signed by 2 officials)
  • IRS Employer Identification Number Letter
  • Government ID and Social Security number for signers

Velocity Business Rewards Credit Card and Business Debit Card

Velocity Credit Cards

Our Free Business Debit Card, issued through Mastercard®, is a convenient and safe way to pay for purchases — even online. It’s the one card that does it all.

  • $0 Annual Fee
  • ATM Access
  • Use with Apple, Google, or Samsung Pay

Our Business Rewards Credit Card offers great advantages for your business:

  • Expense separation: Keep personal and business finances distinct with the Velocity Business Mastercard. Monthly statements simplify finance tracking and tax preparation.
  • Cash flow management: Access funds for business expenses, manage cash flow gaps, and handle unexpected costs without disrupting daily operations.
  • Rewards: Earn 1.5X points with every purchase through our CURewards program, redeemable for dining, merchandise, gift cards, travel rewards, and points-for-cash.

Learn More

Free Business Debit Card Business Rewards Credit Card
Features
Annual Fee $0 $20
ATM Access ✓ ✓
Apple/Google/Samsung Pay ✓ ✓
Earn Points on Every Transaction* ✓
Redeem Points for Cash* ✓
Redeem Points for Travel* ✓
Redeem Points for Gift Cards* ✓
Redeem Points for Merchandise* ✓

*Credit Cards subject to credit approval. See CU Rewards terms and conditions for program details.

Merchant Services through Clover

A business owner

Velocity Merchant Services, offered through Clover, provides an all-in-one solution, 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 our Merchant Services you can:

  • Accept contactless payments easily and more securely via native Wi-Fi 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 Velocity’s Merchant Services through Clover can do for you, give us a call.

Start Your Business Relationship with Velocity Today

We would love to speak with you about your business. Please contact us at: [email protected].