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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 accounts and services

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

  • Two types of business checking accounts
  • 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:

 

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

Choose a Business Checking account that’s right for you.

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 below. See above for the documents you will need to bring in order to open an account at the branch.

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