FAQ

General Information

What is Velocity Credit Union's ABA Routing Number?

The routing number for all Velocity items, including incoming wires, ACH, and for checks is 314977133.

Where can I find a lobby open late?

See our Branch and ATM locations page. Our Slaughter Lane, Braker Lane, and Round Rock Branches are all open until 6:00 PM Monday and Friday for your convenience. Our Brodie Oaks Branch maintains lobby hours until 7:00 PM each weekday, Monday through Friday.

Where can I find a lobby open on Saturdays?

See our Branch and ATM locations page. Our Round Rock, Braker Lane, Brodie Oaks, and Slaughter Lane Branches all have Saturday hours from 9:00 AM until 2:00 PM.

I don't know my member (account) number. How can I find it?

The easiest place to find your member number is on a statement or on a receipt. If you cannot find a statement or receipt, Velocity will be happy to provide your account number to you at any one of our Branch locations. For your protection and security, we will not provide account numbers over the phone.

A number that refers to your checking account only is found next to the routing number at the bottom of the checks you have for that account. This number is not the same as your member number, but can be used by merchants to process items on that checking account, or by our Member Service Center to provide service on your account.

What time will my direct deposit show up on my account?

When you first set up direct deposit with your employer, it can take up to two pay periods (two paychecks) for your employer to send your deposit directly to your account. We credit direct deposits early in the day - before 9:00 AM.

And we'll even make sure you get paid early! If we receive your company's direct deposit before your scheduled payday, Velocity will post the direct deposit to your account, even if it's one or two days before your payday.

How can I pay my loan?

We have several convenient options for you to make your loan payment. You'll need your Velocity member number, your loan type and payment information, and the account and routing number from the outside account from which you'll be paying.

Choose the self-service option that works for you:

  • Automatic Payment — Set up a free, recurring loan payment through secure Docusign, which will debit your account and pay your loan automatically each month or bi-weekly. Automatic Payment (ACH) form
  • Velocity's online banking — You can transfer money and make loan payments online through our online banking system, even from another financial institution. Not yet enrolled? Click here to get started. (Please note: you will need to verify your external account the first time you use it, which can take a few days...so don't wait until your due date.)
  • Just want to make a payment? — Make free one-time payments through the website or automated phone system (IVR). Register the first time, and return to make payments as desired. Online at www.swbc.com/payments/velocitycu or call 866.926.5639. (Please note: payments made after 8pm CST will not post until the next business day.)

You can also mail in or drop off your payments at any branch. Finally, you can call our contact center and make your payment with their assistance. There is a $10 convenience fee for employee-assisted payments made by phone.

I have forgotten my PIN (Password) that I use to access my account online. How do I get it reset?

Velocity is very concerned for your privacy and the security of your account. You can call us at 512-469-7000 to reset your PIN. If you request to reset your PIN this way, we will ask you a series of questions that will help verify your identity. Or, you can fill out and sign the PIN Request Form and fax it to the Contact Center at 512-469-7191.

Once we receive your request, your PIN will usually be reset within the hour, and sometimes in just minutes!

I know I am using the correct PIN (password), but I still can't access my account online. What do I do?

Most likely, your account has been locked temporarily. If you call the Contact Center at 512-469-7114, they can reset it for you after validating your identity with a series of security questions.

Accounts are locked when the wrong PIN is entered to access your account 6 times total - it can be 6 times in a row, or 6 times in a week, or even 6 times since you first accessed your account online. We lock the account to prevent scammers from guessing your PIN by entering numbers over and over until they find the right one.

Loan Questions

How will I know title work has been completed?

You can contact your local county TXDOT office or the dealership where you purchased the vehicle. If any other items such as registration stickers and license plates were ordered they will be delivered to the Credit Union. Arrangements will be made to have them delivered or picked up by the member.

How do I get a copy of a title held at Velocity?

We will fax, mail or release to the member a copy of the title with proper identification of the member. Contact the Contact Center at 512-469-7114 to initiate your request.

I want to have someone else take over my car loan; how do I get the title put in their name?

For someone to take over your auto loan and the ownership of the vehicle they must refinance the loan into their name(s). They may apply with Velocity or choose their own finance company.

How do I add (or remove) someone on my car title that is secured by a loan with Velocity?

To add or remove someone on/from your title, you must refinance the loan with that person being added or removed from the loan.

I am selling my car that is financed with Velocity to someone else, how do I transfer the title to the new owner?

Paper title — Velocity will sign off on the face of the title when the loan is paid off, thus releasing our lien. It is the owner's responsibility after that to contact their local county tax office to arrange the transfer of the title.

E-title — Velocity will release the lien and the state will mail title to borrower.

Does Velocity Credit Union allow borrowers to transport their financed vehicles overseas?

No. Under certain conditions and with specific permission Velocity Credit Union will allow borrowers to take their financed vehicles to Mexico or Canada on a limited-time basis.  However, it is Velocity’s policy that vehicles may not be shipped overseas.

What do you need to authorize me to take my car to Mexico if it is securing a loan at Velocity?

Fax or deliver a copy of the Mexican insurance that you have obtained for this trip to Lending Support at 512-225-9206.  Call our lending department and we will review the account. If approved, the policy should list the dates that you will be gone, the vehicle description including V.I.N., and show Velocity as lien holder. An authorization form will generally be prepared after reviewing the account and the requested documents.

I just moved to another state and Velocity has my title; will I need it to register my car in my new state?

You will need to contact your local Department of Motor Vehicles and they will instruct you of what it necessary to register your vehicle in your new state.

Questions After the Loan is Paid

After I pay off my loan when will I get the title?

Titles are generally mailed within 10 business days from payoff to the address on file for the member.

If the loan is paid off with guaranteed funds (cash, transfer from Velocity account or wire transfer) the title can be released the same day. Arrangements to pick up the title at a Branch can be made with prior notice. Contact a lending representative at 512-469-7000 to make arrangements.

Titles going to dealerships or insurance companies are generally mailed within 4 business days of the time the payoff is received.

E-titles — Velocity will release the lien and the state will mail the title to the borrower. Velocity does not have the ability to speed up state processing.

I have my title; do I need to do anything with it?

When the loan is paid off the Credit Union's lien is released by signing on the face of the title. You will need to take the title to your local county tax office to have a new title issued without a lien. You need to contact your insurance company also to have the credit union removed as "loss payee" on your insurance policy.

I paid off my car loan in the past and I never received the title!

When we have verified that the title was originally mailed but not received, we will provide documentation needed to obtain a duplicate title from the Texas Department Of Transportation. We may need the Vehicle Identification Number or License plate number to process the request. Contact a lending representative at 512-469-7000 to request this documentation.

I lost my title and Velocity was the lien holder; how do I get a new one?

The credit union can help provide documentation to you to obtain a duplicate title from the Texas Department Of Transportation. We may need the Vehicle Identification Number or License plate number to process the request. Contact a lending representative at 512-469-7000 to request this documentation.

Apps and Mobile Deposit

How do I sign up for mobile banking and mobile deposit?

Current online banking users are already enrolled. Log-in and passwords stay the same. Members who are eligible for mobile deposit will see the mobile deposit tool once they log into their App. If they do not see the mobile deposit option, they are not yet eligible.

How do I get the App for mobile banking on my phone?

Members should go wherever they normally download their Apps. iPhone users go to Apple's App Store, and Android users go to the Google Play store to download the App.

How do I qualify for mobile deposit?

Some of the criteria are as follows:

  • Must be a member in good standing
  • Has been a member for at least 60 days
  • Is currently signed up for eStatements
  • Access Checking users are not eligible
  • Age 18 and up
  • Business accounts are eligible
  • Member has no delinquent loans
  • No negative savings or checking accounts

 

Do I need to mail the check in once I've made a mobile deposit?

No, that is not necessary. Members should retain the original check for 60 days then properly destroy it. (See Terms and Conditions)

When will I receive credit for a mobile deposit?

Mobile deposits are subject to the same hold criteria as shared-branch banking, so a two-day hold is automatically applied. A hold may be extended pending review of the deposit. If that is the case, the member would be notified via letter.

Where can I find the Terms and Conditions for mobile deposit?

Members will need to accept the Terms and Conditions the first time they log in. If the member would like to review the Terms and Conditions later, they are available on the members' notices page on our website at: https://www.velocitycu.com/member-notices

If you have other questions, please call our Contact Center at 512.469.7000 or 800.933.2029.

 

Miscellaneous Questions

Where are titles kept?

Paper titles are held at the main office.

E-titles are kept electronically by the state.

Who does the title work for loans with Velocity?

If you purchase a car from a dealership in Texas, they are responsible for the title work.

If you purchase a car from another individual, Velocity will handle the title work at the time your loan closes. You will be informed of what is needed by your loan representative.

If you purchase a vehicle from a dealership outside of Texas, the process may vary depending on which state the vehicle is coming from. You will be informed of what is needed by your loan representative.

Title work done for Rate Genius loans, are done by Rate Genius.

Will Velocity do title work for cars that are not financed with them?

No.