20+ Ways to Earn, Save & Enjoy More every day
Maximize Your Money with Rewards Checking—a feature-packed account with 20+ benefits to help you earn more, save more, and enjoy more every day.
Rewards Checking
Enjoy a Rewards Checking Account with big benefits and no hidden fees. Earn debit card rewards, get paid earlier, and experience easy online banking with a credit union in Austin that puts you first.
- Earn rewards with a Velocity Rewards Debit Card.
- Get paid up to two days early.
- Access your account from anywhere.
- Use free ATMs across Austin and beyond.
Waive Monthly Fee
No monthly fee with $2,000 in combined Debit or Credit Card spend, eStatement enrollment, and direct deposit of $1,500 or more.
Free Telehealth & Cell Phone Protection
Save on simple doctor visits and keep your mobile phone insured at no cost to you.
Card Management
Protect your debit card with real-time alerts, transaction tracking, and safety features from your phone with secure online banking.
Earn More*
- High Dividends on balances up to $15,000.
- $20 Cash Bonus for a new personal loan within 60 days.
- Loan Rate Discount – 0.25% off personal and title loans.
- CD Bonus – Extra 0.25% on select CDs over $10,000
Get Rewarded**
- Free Rewards Debit Card – Earn points on everyday purchases.
- Get Paid Up to 2 Days Early – With direct deposit into your Rewards Checking account.
- Round-Up Savings – Spare change adds up in your savings automatically.**
Enjoy More Benefits***
- Lifestyle Perks – Enjoy cell phone protection, telehealth services, travel discounts & more.
- Financial Tools – Gain financial insight with free credit monitoring and wellness resources.
- Security Services – Stay safe with ID theft protection and reimbursement.
- Plus: Get paid up to 2 days early with direct deposit, enjoy a free financial check-up, and access powerful digital tools—all part of being a Velocity member.
Rewards Checking
Balance and Account Requirements
Features and Benefits
Access, Deposit, or Send Money
+ID Theft Protection and Credit Report Monitoring available through Mastercard.
++A $5.00 charge is assessed for each transfer.
+++ See Agreements & Disclosure or Fee Schedule for more information on Rewards Debit Card Round Up.
FAQs
Can I open a free checking account online?
Yes! You can open a free online checking account with Velocity Credit Union quickly and easily. Whether you need a checking account online or another type of credit union bank account, we make it simple to get started.
To open your free checking account, review our eligibility requirements. To get started, you’ll need:
- A valid driver’s license
- A previous home address (if you’ve moved recently)
- Your Social Security number
- A debit card, a checking account, or another bank account for funding
- To be at least 18 years old and a US citizen or resident alien
All credit union checking accounts require a minimum opening deposit of $50. Enjoy the benefits of banking with a credit union in Austin, where you get lower fees, better rates, and easy online banking. Apply today!
Can I use an ATM for check cashing near me?
Yes! Velocity Credit Union makes it easy to access your money with thousands of ATMs near you. Use our ATM locator to find a nearby machine for check cashing, withdrawals, transfers, and other services.
If you’re using a Velocity debit card at a Velocity ATM or an Alliance of Austin Credit Unions ATM, your transactions are free. Otherwise, here’s what to expect:
- $1 fee for balance inquiries
- $1.50 for withdrawals or transfers
- $3.25 per transaction when using a non-Velocity card
We also participate in shared branching with CO-OP, allowing you to conduct banking at other credit union banks in Austin and across the US. Need even more convenience? We have the best mobile banking app to let you deposit checks, transfer funds, and manage your checking account from your phone.
Find an ATM near you, access mobile banking, or visit a trusted Austin-area credit union today!
What are your current rates and fees?
Velocity Credit Union offers competitive rates and low fees to help you get the most out of your bank account. Whether you’re looking for a free checking account or free online bank account, we keep our costs low so you can save more.
To see the latest rates for checking accounts, savings accounts, loans, and credit cards, visit our rates page. You’ll find details on:
- Free checking accounts
- Debit card rewards options
- Low-interest loans for cars, homes, and personal needs
- Credit cards with 0% intro APR and rewards programs
For a breakdown of fees, check our fee schedule. Velocity Credit Union is committed to transparency, so you’ll always know what to expect. Our free checking account has no hidden fees, and we offer free access to thousands of ATMs near you and across the US.
As a credit union in Austin, we’re here to help you manage your money with mobile banking, the best mobile banking app, and access to shared branching with CO-OP. Looking for check cashing near me or an ATM near me? We’ve got you covered.
Visit us today to experience banking that puts you first!
How is a credit union different from a bank?
A credit union operates as a non-profit organization owned by its members, unlike traditional banks, which are for-profit institutions owned by shareholders. This means that when you open a credit union checking account or credit union savings account, you become part of a financial institution that prioritizes your financial well-being over profits. And, your savings are federally insured to at least $250,000 by the National Credit Union Administration (NCUA) and backed by the full faith of the United States Government.
With a credit union checking account, you enjoy:
- Fewer fees and higher savings returns than big banks
- Lower loan rates for mortgages, auto loans, and personal loans
- Free checking account with no monthly maintenance fees
- Access to thousands of ATMs near you and across the US for check cashing and withdrawals
- Personalized service from a trusted credit union near you
At Velocity Credit Union, we also offer mobile banking through a mobile banking app, allowing you to manage your money anytime, anywhere. Whether you’re looking to move money, locate an ATM near you, or open an online bank account, we make banking simple.
Join one of the top Austin-area credit unions today and experience the benefits of a free checking account with better rates, lower fees, and outstanding member service!
The Austin Area’s Trusted Credit Union Since 1947
Looking for free checking, better rates and lower fees? Velocity offers robust, convenient online banking, personal and business accounts, a top-notch credit card, loans for just about anything, secure investment opportunities, and six area branches to serve you in Austin, Round Rock, and Cedar Park.
About Velocity
Velocity Credit Union is federally insured by the National Credit Union Administration. Your savings is federally insured to at least $250,000 and backed by the full faith of the United States Government. Insurance Products are not insured by the NCUA or any Federal Government Agency; not a deposit of or guaranteed by the credit union or any credit union affiliate. ©2025. Velocity Credit Union. All Rights Reserved. P.O. Box 1089, Austin, TX 78767. 512.469.7000.
About our Products and Services
*See branch for details and important disclosures on our rates. Dividends: A higher monthly dividend will be paid on balances from $1 up to a $15,000 maximum (any dollar amount over receives the current rate for checking accounts). See our current Rate Sheet for more details. CD Bonus: 25 basis point bonus on certificates above $10,000 available only on certificate maturities of 2 years or greater; excludes Mini and Jumbo certificates.
** See Agreements & Disclosure for more information on Rewards Debit Card Round Up.
*** Lifestyle Benefits and Financial Benefits are offered through Econocheck and are available with Rewards Checking only. Benefits are available to personal checking account owner(s) and their joint account owners subject to the terms and conditions for the applicable Benefits. Some Benefits require authentication, registration, and/or activation. Benefits are not available to a “signer” on the account who is not an account owner or to businesses, clubs, trusts, organizations and/or churches and their members, or schools and their employees/students. Special Program Notes: The descriptions herein are summaries only and do not include all terms, conditions and exclusions of the Benefits described. Please refer to the actual Guide to Benefit and/or insurance documents for complete details of coverage and exclusions. Coverage is provided through the company named in Guide to Benefit or on the certificate of insurance. Security Benefits including ID Theft Protection and Credit Report Monitoring available through Mastercard.
****Rates are effective per our most current published Rate Sheet. Intro rate for first twelve months, not available on savings-secured cards. After intro period, APR for Velocity Mastercard Platinum will range from 11.50% to 18.00% APR based on credit score and the Prime Rate; APR for Velocity Mastercard Platinum Rewards will range from 15.50% to 18.00% based on credit score and the Prime Rate.
© 2026 Velocity Credit Union. All rights reserved. | P.O. Box 1089, Austin, TX 78767 | 512.469.7000
Complaints? | Terms | Privacy Policy | Notices | Site Map