Regular Savings
A simple savings account with a $5 deposit is all it takes to join Velocity and keep your membership active. Our savings accounts are low in fees and high in benefits! Dividends are calculated on daily balances of $100 or more, and are compounded and paid quarterly.
Service Fees: None
Dividends: Yes
Money Market Accounts
Money market accounts let you earn a generous dividend rate, but still access your money if you need it. Unlimited over-the-counter transactions are allowed, but you are limited to six pre-authorized withdrawals or transfers each month — all of which can be by check. A Money market account can be opened with a minimum deposit of $1,000. Dividends are paid on balances of $2,000 or more. Dividends are compounded daily and paid monthly. Rates are set on the first day of each month. Avoid the $10 monthly fee by keeping a minimum balance of $2,000.
Service Fees: None if balance remains equal to or greater than $1,000, otherwise $10
Dividends: Yes
Share Certificates
Velocity’s Share Certificates pay some of the highest dividends we offer. Select a maturity term anywhere from 91 days to 5 years and watch your savings grow.
Youth Savings
Start your child on the path to financial confidence with a Velocity Youth Savings account. Designed for ages 0–17, it only takes a Social Security number and a $5 opening deposit to get started. From their first deposit to their growing nest egg, it’s a simple way to build smart saving habits that last a lifetime.