Sep, 30, 2025 — VELOCITY CREDIT UNION is a federally insured state chartered credit union headquartered in AUSTIN, TX with 7 branch locations and about $1.05 billion in total assets. Opened 79 years ago in 1947, VELOCITY CREDIT UNION has about 71,607 members and employs 207 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VELOCITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 4515 Seton Center Pkwy AUSTIN, TX 78759-5290 |
| Phone: | (512) 469-7000 |
| Fax: | |
| Website: | https://www.velocitycu.com |
| Branches: | 7 branch locations |
| Members: | 71,607 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68359 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,048,219,456 |
| CEO/Manager: | Debbie L Mitchell |
| Chairperson: | Kasha Bartholomew |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 149,854,079 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 132,935,881 |
| Unsecured Loans | 65,205,858 |
| Other Loans | 344,040,927 |
| TOTAL LOANS | 542,182,666 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,544,024 |
| Land And Building | 40,242,088 |
| Other Fixed Assets | 7,510,159 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 7,843,439 |
| All Other Assets | 1,773,241 |
| TOTAL ASSETS | 1,048,219,456 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 705,132 |
| Notes & Interest Payable | 50,000,000 |
| Accounts Payable & Other Liabilities | 12,024,431 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 224,570,638 |
| Regular shares | 238,514,245 |
| All Other Shares & Deposits | 381,723,884 |
| TOTAL SHARES & DEPOSITS | 844,808,768 |
| TOTAL LIABILITIES | 907,538,331 |
| Regular Reserve | 0 |
| Other Reserves | -7,253,960 |
| Undivided Earnings | 147,935,085 |
| TOTAL EQUITY | 140,681,125 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,048,219,456 |
| INCOME & EXPENSE | |
| Loan Income | 28,741,092 |
| Investment Income | 8,819,819 |
| Other Income | 4,516,012 |
| Total Employee Compensation & Benefits | 17,093,181 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 16,384,285 |
| Non-operating Income & (Expense) | 1,049,947 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,675,030 |
| Cost of Funds | 8,674,266 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 754,540 |
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