Supporting Local Business, Just Like Yours
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 Debit Card |  ✓ |
✓ |
| Free Business Rewards Credit Card |  ✓ |
✓ |
| Free CardLock app | ✓ | ✓ |
| Free ID Theft Protection available through Mastercard | ✓ |
✓ |
| Free Direct Deposit (Get Paid Two Days Early!) | ✓ | ✓ |
| Free eStatements | ✓ | ✓ |
| Free eAlerts | ✓ | ✓ |
| Access, Deposit or Send Money | ||
| Free Velocity ATM and Alliance of Austin Credit Unions ATM Network 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
Start Your Business Relationship with Velocity Today
We would love to speak with you about your business. Please contact us at: [email protected].