Velocity Credit Union (Downtown branch)

Credit union Velocity Credit Union (Downtown branch), 705 E 12th St, Austin, TX 78701, United States: 111 reviews of visitors, the most complete information about the address, business hours, location on the map, photos, phone number, website and other contacts.
Velocity Credit Union (Downtown branch)
Rate: 2.5
Address: 705 E 12th St, Austin, TX 78701, United States
Website: velocitycu.com
Phone number: +1 512-469-7000

GPS coordinates

Latitude: 30.2716625
Longitude: -97.7337552

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reviews

Lucilo Camerino
Do NOT use this bank. LOOK AT THE REVIEWS BEFORE YOU ARE LOCKED IN. We purchased a car through Little Apple and were told this bank had the lowest interest rate. What we didn't know is that Velocity is unlike any normal bank. Credit score is outstanding, by the way. We were not asked before our loan was established with Velocity, a fault of Little Apple. [I believe that they direct as much business as possible towards Velocity.] There is a mandated savings account opened in your name. In order to set up automatic loan payments you have to draft it from your outside account to your "new velocity savings account" which is REQUIRED to have a loan through them. They will nickel and dime you to death. They charged over 200 bucks to set up a loan [via Little Apple] over the phone. A phone payment charge. They have no leniency or care for their customers. They care only about money. . They will also change your account number. I feel their tactics are shady at best. We are probably going to change our loan to a reputable and reliable bank. DO NOT MAKE THE SAME MISTAKE WE DID. DO NOT USE THEM.
8 months ago
Spring Shea
would not recommend. Feels very outdated and disorganized. I had a simple loan for an AC unit through Austin Energy which I paid off recently and closed accounts. However, Velocity is still withdrawing monthly payments as if I haven't paid off the loan. I've called and sat on hold for hours and haven't been able to get anyone to call me back.
4 months ago
Taza Dority
NEW SYSTEM IS HORRIBLE! It’s unfortunate because this is the closest branch to our home, but it seems like we’re going to have to travel up north from now on. I really hope they don’t change the system up there too! DO NOT COME HERE unless you want to waste an hour plus of your time. To the reply below: I’m not talking about the online system, I’m talking specifically about the downtown branch. The updates on the teller machines through the drive thru. Hopefully the lobby will solve our problem once you all open back up.
6 months ago
Silvia Collasius
I’m on my 5th attempt to make my first payment. I’ve heard numerous times “it’s not my job to take payments” been transferred and hung up on. When selecting the automated call back option you don’t get a call back. Hold times are about an hour each time they transfer you. I’m not one to leave reviews but this is one of the worst customer experiences I have ever had.
8 months ago
Jeffrey Young
Really really bad service. I signed up for automatic ACH payments on Feb 18th, 2021 and never received any further communication from Velocity Credit Union regarding if this was scheduled in their system. Almost a month later, my payment is coming up and I still have no idea if they received this information. I waited on hold for over an hour simply trying to get a straight answer on if they show a reoccurring ACH payment on my account or not. They outsource all of their calls to a call center where you will be asked unclear questions to verify your account identity unless you know your member number (which I did not). Each person that I talked to at the call center kept saying the same thing like they were all reading off the same prompts: "We switched to a new system and are having issues". No one at the call center could assist me without forwarding my request to an "account specialist" for a call back. I still haven't received a call back and wasted over an hour of my morning calling in multiple times. This is the worst customer service experience that I've had in a long time. I'm considering paying off the rest of my loan so I no longer have to deal with Velocity Credit Union.
5 months ago
david mccleary
Everyone is very nice and very helpful at Velocity...if you can ever reach them. I've called a several times over the last week attempting to ask a simple question about my account. I've had to hang up and call back after being on hold for 15-20 minutes each time. Then, one time when I was on hold, an automated recording asked if I would like someone to call me back. I agreed and left my phone number...which took them about 3-4 hours to call me back. Velocity Management - More Customer Service people on the phones please!
11 months ago
azmi khawaja
It is Impossible to make a payment since 03/01/2021. For some reason Voilitcy went to a new computer system and changed our account number. I have been trying since March 1st to make a payment. I was told a speciaist would have to assist me, but I have been wait since March 5 and no one will return my call. I called today and I got placed on hold and no again wait for a call back for help. Voilicity wants me to resister my account again and the System will not take my new account number. How are we suspose to make are loan payment when no one will help. I should not have to pay a fee to make a payment with a live person when the online system dose not work. I just want to make my payment.
5 months ago
Angela Ison
I HATE THIS BANK. 1) Pack a lunch because if you are coming here, prepare to be in line a VERY long time, 2) these virtual banking machines in the drive through are absolutely terrible. Also, 24-72 hour hold on a Cashiers Check, what the actual?
4 months ago
Patrick McKenzie
Have had much trouble with this bank, either the ATM is out of service, the voice banking is not accessible, their operators sound overwhelmed¬ accessible, I'm unable to make ATM deposits ,is always rejected. I don't have this issue at S Lamar location it's been such inconvinience at 11st/i35 branch
5 months ago
tenzin lekpal
We took out a home improvement loan at the downtown branch in 2015 and the service was impeccable. The employees are trained properly and they make you feel like you are part of the Velocity CU family. Everyone was friendly and courteous to us. You can tell that they pay attention to the customer experience. It was excellent!
5 months ago
Jennifer Hardesty
Terrible experience with this company. I paid off my loan and the auto pay continues to draft every month even though I owe them nothing. I've called several times about this issue, closed all accounts, canceled autopay twice (once before I paid off the loan). Every time they tell me the issue is resolved, but they continue to draft money that does not belong to them. It's stealing, it's unethical and it's disgusting. I've spent hours on the phone trying to resolve something that should be so easy... I don't owe you anything, stop taking my money. When I call they have absolutely no sympathy. Would not recommend this company to anyone.
5 months ago
Zeke Escamilla
I would just like to say I am truly excited to be using velocity for my vehicle loan. I had a major issue occur in my life an spoke with Gwen who truly helped me out she took alot of pressure off of me. Made me feel everything would be ok. They truly make you feel like you matter I would not choose any other company to deal with after this. Thank you Gwen an velocity for being a true credit union that cares about your customers.????
2 weeks ago
Aria Hoyte
I would like to thank Angel Member Services for thanking the time to listen to my concern about sending information to the credit bureaus. He was able to investigate and follow thru to make the necessary corrections. Velocity has an awesome employee that goes above and beyond in helping its members.
1 month ago
Scott Kent
My card was turn off repeatedly, Ill call to fix the issue and it get turned off again and again. The drive thru is inconvenient. Hold time for customer service is ridiculously long. Its been a terrible experience this past year.
4 months ago
Tim Hemmis
Banking with them has been absolutely horrible. I have so far deposited 7 checks and have had to wait 8 days to access every single check. I work on the road. The app is horrible and I can't get answers from anyone about my account or availability of all my money tied up with them. I regret opening an account here and would tell anyone I know to bury their money in the yard before banking here.
9 months ago
Luke Adams
Hands down one of the best banks in Austin. I switched over from Jp Morgan Chase and was concerned that they may not be able to meet my needs, well they have exceeded my expectations, always friendly and helpful faces. Phil Stark has always gone out of his way to help me and with the current virus issues, he has gone above and beyond to make sure my new account was done accurately. I have been here for almost four years and am a happy customer with Velocity. Mark V, Derrik and Arely made my services every time I came in feel unique.
2 months ago
Andre Bendt
Lines are always backed up , no less than 40 minute wait ( drive trough ) only two branches near me . Awful terrible do not bank with velocity . One star is giving too much credit ????
4 months ago
Julia
Inflexible ridiculous proof of address documents required to sign up for an account. The website was broken, calling in was no help. The employee sounded bored and didn't assist at all.
10 months ago
Akseli koskela
I’m editing this to reiterate how terrible this credit union is. Screw these people. Modern day loan sharks. Don’t ever work with these people.
6 months ago
David Haviland
Angel provided exceptional customer service and patience when I called multiple times concerning fraudulent debit card charges. I appreciated his professional demeanor!
6 months ago
Jake Ludemann
ATMs that are offline more often than not. Sparse locations to boot... what’s to like???? I mean, what good are you if you aren’t available to your customers???
4 weeks ago
JoElla Rogers
We’ve been with Velocity CU for almost 20 years for both personal and business accounts and really like them. The people at the downtown, Ben White@Lamar, and N IH35 have always been professional, quick, and super helpful with business services like notary and other offerings. The web tool works fine for account management and bill pay.
9 months ago
Charles Lassiter
An overactive fraud department will stop you from making normal purchases, almost always a wait time, charged $10 for a replacement after debit card wore out from normal use and now no option for authorizing a large transaction during weekend hours after they close. Velocity has single-hadedly convinced me that sometimes Credit Unions don't provide better service than traditional banks.
11 months ago
Tessa Bennett
My banking experience was awesome today as usual. Lance was very helpful with reopening my closed account. Very friendly and talkative. I would highly recommend Velocity to anybody needing to open a bank account in the future.
5 months ago
Rob Delp
Great service from people who care
7 months ago
Amy Elizabeth
Horrible customer service. More of a headache then helpful absolutely no desire to resolve any problem! After years of banking with velocity I will definitely be looking for another credit union
3 months ago
Joanna mata
OK so I don't bank there but man, I sure love their commercials. That actor (looked him up, Bill Wise) is a hoot. It's super funny and creative.
5 months ago
Charles Giles
I am a 20+year customer of this bank. I much prefer to leave positive reviews, but after my experience with Velocity today enough is enough. I was making a standard deposit into my business account, there was a small typo on the check, though the business name was spelled correctly. The teller scrutinized the check then informed me of the 'discrepancy' and would need to consult a manager. Mind you, apparently this customer of mine has written the check to my business the same way every month for years. I stood at the counter for 8 minutes while the teller was in the back. (Yes, I timed it). Upon return I was informed that I would have to contact the client to have the check reissued. What!? I'm running a business, I need the money deposited. But I was only issued a stern NO. Here is a tip on how I would expect a bank I have done business with for more than two decades to handle this. Take the check (they've taken them lo all these years) and tell me that I need to have the record updated so there are no typo's, and be done with it. The customer service here used to be very good, but over the past 5 years their service has declined. One of my main issues with this bank is that they HOLD checks for 5 to 7 business days. I understand that if a customer had a habit of depositing bad checks this might be appropriate, I in fact have never deposited a check that did not clear. In one circumstance I had a check for $6k and the bank wanted to put a 7 business day hold. I couldn't wait that long so drove to a bank my sister manages and she issued me a bank check (certified funds) for the amount so the money could be deposited in my checking account. Upon presenting the bank check, I was told there would be a 3 business day hold. What?!? I asked politely if they could just call the other bank and confirm they issued a bank check with that number.... NO, we can't do that. Well thank you Velocity Customer NO-Service. As of late I have taken to cashing checks that I need access to then bringing the cash to the bank to be deposited (both business and personal) Always a hold on checks but if I deposit more than 10 thousand in cash (because I can't wait a week or two for funds) I get asked questions because it triggers flags when you deposit more than $10k, I get it, I play by the rules, but Velocities silly policies for long standing customers require it to be done. I will be looking for a more FRIENDLY place to bank. One that appreciates its customers. Just a quick edit to note that I went to their website that says I can contact them with a complaint.... Again, In Fact NO, there is no place to register a complaint that directly calls it anything close to that.....
3 months ago
Rodney Mudaly
Good service and kind employees helps me in every banking situation
4 months ago
Kimalida Allen
I don’t normally leave reviews, but I just had to this time. I had bad credit and a vehicle, I had co signed with an ex, repoed. No lender would give me a time of day to get a new vehicle because I was in need of one, but velocity did. After over a year and a half of making payments on time, I tried refinancing my vehicle other places like RBFCU and security service, to get cheaper payments. Didn’t think about refinancing through velocity until recently. They approved me and my interest rate went down I’ve 4%! That’s a lot for someone who has a high interest rate. They have helped tremendously! Of course you have to do your part with building up your credit. Every time I have an issue (mainly because of me) they resolve it. Great customer service every time! Highly recommend!
3 months ago
Lee P
Since becoming a member in 2015, I must say customer service is nonexistent. Forget trying to call in as I have spent almost 2 hours on hold!!! I know I could have selected "1" and someone would have called me back. On one occasion when I was able to do that, I received a call back 5 hours later!!
5 months ago
Reuben Hall
The only credit union that holds my car loan, that charges me $26 for making a car payment in person. When I asked about the extra note on my receipt the teller could not explain it. How can you give someone a receipt and not know how to explain everything on the receipt? The teller actually said the note of $26 was a credit on my account. Laughable. My credit card statement said it was a charge.....STAY AWAY!!
6 months ago
Fares yasin
This community bank has very low customer service. I will be taking my loan business elsewhere wheew a customer is appreciated and not just a number on the wall. Dont borrow or bank with them.
6 months ago
Sam Browne
Worst bank in the world. Don’t ever use them. They give you a great loan then they steal your money.
6 months ago
Steve Allen
Updating my review to positive. Online banking is best. Customer service is slow but very polite and effective.
5 months ago
Cheerupro
A credit union that actually cares and wants the best for their members! Great loan options, top notch customer service, and trustworthy staff. I’ll always recommend Velocity!
3 months ago
Lester Mapes
Terrible online banking!!!! Terrible app!!!! Terrible customer service. I've called a dozen times at different times and have yet talked to anyone. I will avoid doing future business with them at all cost and I am in the process of switching auto loans. I no longer feel like dealing with this headache of a bank.
5 months ago
Jaebong Jeon
I am beyond satisfied with the services provided to me by Velocity and it's staff members. Every one is always friendly and prompt. Not sure why people are having trouble paying loans on line. Their app is a super convenient way to deposit checks, transfer money and pay loans. If you are smart phone proficient then this bank is basically open 24 hours in the palm of your hand. They also offer free notary services which I use regularly. Shout Out to Brodie Oaks Crew!!! Best CU ever! (Member since 2011)
9 months ago
Kenneth Mayes
DO NOT GIVE THEM YOUR MONEY!! The negative reviews are true ... the positive reviews are ones are posted by employees or bots made to make the reviews better. The customer service is the worst I've ever seen. They will sweet talk to you to get your business but treat you like a piece of trash once you have signed on with them. Do yourself a favor and do your Research before you land in such a bad place. I wish I did.
6 months ago
kunal nayak
Vickey in the Loan Department at Velocity CU has been amazing to work with. I had questions about the possibility of flipping a home and/or buying a second home and needed a knowledgeable banking partner related to this. She took her time with my many questions and truly guided me on track with her knowledge and patience. She stated she was available to help with any questions I may have. I highly recommend Velocity CU as we have also received a home equity loan from them in the past and they have been superb to work with.
3 months ago
edy urbizo
I should have switched years ago!! I was with Bank of America for years and they are just this gigantic entity that could care less, I knew my business absolutely did not matter to them. My very first experience at Velocity Credit Union on Slaughter Lane was beyond my expectations! JESSE H was phenomenal. He greeted me immediately, initiated my paperwork efficiently, answered allll my questions (yes, I'm that girl!), and made me feel right at home. Not to mention he was lightening fast!! Jesse was friendly and accommodating. Jesse and Velocity did in one day, what Bank of America could never do in 13 years. Kudos! Looking forward to a long relationship with Velocity!
8 months ago
Dianne porter
Tried to put my car on auto pay but their archaic way of doing things at the bank made me miss a payment because I thought it was on auto pay. They just dinged my credit and could care less. Go with a modern bank, if the bank tells you to print, sign and scan something to set up auto pay then your at the wrong bank. DON’T BANK HERE
7 months ago
Nino Paichadze
Super-easy experience applying for a loan. I heard back from Corey within 24 hrs, and he explained everything to me before sending the docs. Exceptional service, and the reason why Velocity has been around so long!
9 months ago
Allison Isambert
Awful phone support !! People who answers the phone calls ... not good , make you do call over and over ... and guess what you wait for more than 30 minutes each call
7 months ago
UAE
I really appreciated the customer service that I from Lance Duckworth!
5 months ago
Sameer Almzayen
Seriously, DO NOT use this bank. I am a disabled veteran in a serious financial hardship, and currently I am 2 months behind and literally made a payment recently instead of being able to buy groceries due to them threatening me. 2 weeks later and they are now threatening to repossess my truck again. This bank has very poor ethics and morals. Go with a bigger more reputable bank. You've been warned. ------ EDIT: I feel the need to explain this further after Velocity's response. My wife paid over $500 2 weeks ago that we were forced to pay as they threatened to repossess my truck. Yes, you guys have been threatening us, I even have a letter I recently got that says if we don't pay the entire past due amount by the 21st you guys will make the entire amount due and repossess the vehicle if we don't pay. That $500 we paid was going to be used for groceries and supplies so we can actually live, but because of the threats we had to pay. Not ONLY that, but you guys forced us to make the payment over the phone, locking us out of your bill pay service, FORCING us to pay a $10 fee. You guys STILL won't let us use the bill pay option and want us to keep paying the $10 fee for every payment we make. I have had to submit a request to the VA for financial hardship on my pending appeal because of you guys. This really shows how Velocity feels about veterans. Part of my reason for having such a hard time finding employment at this time is because of my disabilities. Now we are only about 2 months behind, and we have been trying to work with Velocity, most banks wait until you are way further behind before they start talking about repossession, specially after we've made a significant payment. Velocity is proof that you should not use small banks because they are full of greed and just care about their bottom line than their customers. There response to this review PROVES that. I have had several car loans, and I've not always been perfect, times get tough... but I've never been treated so poorly like this before.
3 months ago
Jay Hilger
Need to get on line for a loan payment. Web site doesn't load on the computer and on the phone it comes back Server cannot be reached. Do these people monitor their own site? If it's a managed site, someone ought to be paying attention - this is a financial web site. Financial stuff happens 24/7 if I wanted to wait for tomorrow I'd just go to their branch.
3 months ago
Tommie James
I was trying to refinance my car through them and they will not work with immigrants. They asked me to prove I was staying in this country; I been here since I was 3 years old. I asked them, once I renew my work permit and get that done, do I have to prove I'm staying in this country even after that? They didn't have an answer. The real answer is, they don't work with immigrants. So if you have a work permit, don't bother with them. It is very unfortunate, first time in my life I ran into this issue. I have purchased vehicles in the past and refinance in the past, but first time I been asked if I'm staying in this country. Of course I'm staying, this is the only country I know. :(  I never been discriminate before till now. I'm very hurt by this.
6 months ago
Heidi Normandin
The only reason I am giving them one star is because that is the only option I have so that I can write a review. I have never had so many problems with a bank before. What put me over was that I recently deposited a check on the mobile app- one that I seriously needed to be deposited in my account for some time. It was a larger check (when I say larger- it was about twice what my paycheck usually is- so not that large) and so the app told me there would be a 2 day hold on it. Fine. I can deal with 2 days at the most. When the funds weren't deposited, I called back and the teller told me I would now have to wait 5 more days. My heart sank. I even cried. That's how serious this check is to me. They 'allowed' me to have a little bit of the money. Not at all near what I needed. So I called back to reiterate how important it was for me to have this check and they released another small amount. Still not near what I needed. Not once would the manager speak with me. Yesterday they told me they could call and get it verified. To which I told them I would get them a phone number of who to speak with once I got home. Before that could happen, they blindly called the company I work for and they wouldn't give them information on me because I wasn't there to ok it. Today they say there is nothing they can do because they were not satisfied with the outcome. Well there's not much I can do except never bank with Velocity again. And trust, I will spread the word. Absolutely terrible and unwilling to actually help the situation. Never again will this company put me in a situation like this.
8 months ago
Mona Gentry
Havebanked here for a couple of decades.excellent personal service
7 months ago

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