Fees

Schedule of Fees and Service Charges

Credit unions have always been not-for-profit organizations designed to offer the best possible service at the best possible price to their members. Traditionally, credit unions offer some of the best loans rates, dividend rates, and service fees of any type of financial institution. Velocity works hard to uphold this tradition.

Service charges and fees are designed to be reasonable and help to offset the Credit Union's cost of providing some of the more labor intensive services to its members. Such fees, when appropriate and fair, help make individual services more "self supporting". In turn, the Credit Union is able to be more aggressive in offering lower loan rates and higher dividend rates. Most important, properly targeted fees allow the cost of providing certain services to be borne by the users of those services and not by our membership as a whole. In this way, savers and borrowers do not have to subsidize the cost of services they may not use.

The following fee and service charge information is in effect as of Effective Date: July 13, 2016. All fees, services charges, minimum balances and other requirements may be changed at any time by the Velocity Credit Union Board of Directors.

Fee schedule

Savings (Share) Accounts
Checking Accounts (Share Drafts)
Business Checking Accounts
ATM/Debit Mastercard -- Non-Velocity Machines
Safe Deposit Boxes
Miscellaneous Fees and Charges
Wire Transfer Fees