Velocity CU Adds Deposit Services to Business Offerings

AUSTIN, Texas – Velocity Credit Union says it’s ready to serve members who have been requesting business deposit services. The $502 million CU now offers a number of business checking accounts to complement business loan offerings made available through a partnership with six other Austin-based credit unions that formed CU Business Solutions last year. Credit card services have also been added to the product lineup, according to Debbie Moe, Velocity CU vice president of branch services. Businesses with average deposits from $36,000 to $64,000 and two to 17 employees will be the CU’s initial target, Moe said. Velocity CU serves more than 87,000 members. Roughly 2,000 members own their own businesses, said Larry Strong, president/CEO at the time when Credit Union Times interviewed him last year.