Velocity Community Federal Credit Union
Headquarters
Po Box 30669
Palm Beach Gard, FL 33420
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2024 Overview
General Credit Union Information
Velocity Community is an NCUA insured institution located in Palm Beach Gard, FL. It was founded in 1958 and has approximately $498.98 millions in assets.
Who can join?
As a community-chartered credit union, you can apply for membership if you:
• Live in Palm Beach County
• Work in Palm Beach County
• Worship in Palm Beach County
• Volunteer in Palm Beach County
• Attend school in Palm Beach County
• Have family member who is eligible for membership
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 12458 |
| Date Established | 1958 |
| Assets | $498.98 million |
| Loans | $306.91 million |
| Deposits | $419.88 million |
| Capital | $57.16 million |
Field of Membership Restrictions
Membership is open to those who live, work, worship, volunteer or attend school in Palm Beach County or have family eligible for membership.
Deposit Rates - November 4, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| SAV
|
0.10% | $5 | $2,499 |
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|
| Savings
|
0.15% | $2,500 | - |
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|
| High Yield Savings
|
4.00% | $10,000 | $50,000 |
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|
|
Money Market
|
0.70% | $2,500 | $9,999 |
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|
|
Money Market
|
0.70% | $10,000 | $24,999 |
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|
|
Money Market
|
0.85% | $25,000 | $74,999 |
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|
|
Money Market
|
1.25% | $75,000 | $99,999 |
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|
|
Money Market
|
1.35% | $100,000 | - |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
4.50% | $250 | - |
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|
| 6 Mo CD
|
4.55% | $1,000 | - |
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|
| 12 Mo CD
|
4.20% | $250 | - |
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|
| 12 Mo CD
|
4.25% | $5,000 | - |
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|
| 18 Mo CD
|
3.75% | $5,000 | - |
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|
| 24 Mo CD
|
3.55% | $5,000 | - |
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|
| 36 Mo CD
|
3.55% | $5,000 | - |
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|
| 48 Mo CD
|
3.55% | $5,000 | - |
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|
| 60 Mo CD
|
4.05% | $5,000 | - |
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|
Loan Rates - November 4, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Velocity Community
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
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|---|---|---|---|---|---|---|
NMLS ID: 1835285 |
6.380% | 6.250% | 0.88 | $4,400 | $1,971 | Learn More |
NMLS ID: 401822 |
6.818% | 6.625% | 1.00 | $6,400 | $2,049 | Learn More |
NMLS ID: 1025894 |
6.984% | 6.875% | 0.88 | $3,545 | $2,103 | Learn More |
NMLS ID: 3030 |
7.200% | 7.125% | 0.75 | $2,400 | $2,156 | Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR 7.490 % After Intro: 7.490 % |
$0 |
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More Info |
Note to Velocity Community
To upload and update your bank's rates please register.
It is free to register and add rates.
Branches
Below are Velocity Community branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Velocity Community Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 913.43 | A | View Lobby Hours | |
| 919.40 | B | View Lobby Hours | |
| 929.12 | C | View Lobby Hours |
Climate Policy and Initiatives
VELOCITY COMMUNITY is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Velocity Community Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Velocity Community. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Velocity Community | U.S. Average |
|---|---|
| 7.18% | 5.83 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of June 30, 2024, Velocity Community had $4,190,464 in non-current loans and $2,961 in owned assets. To cover these potential losses it had $57,163,378 in net worth and $1,255,762 in loans loss reserves. That gives it a Texas Ratio of 7.18%.
Net Worth
| Velocity Community | U.S. Average |
|---|---|
| 11.45% | 13.93% |
Velocity Community FCU has a net worth of 11.45% versus the BestCashCow average of 13.93. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Velocity Community
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