bank rates

Nationally Available Deal: Texas Credit Union Offers CD Rates Up To 2.83%

Velocity Credit Union will offer these rates only through Nov. 21.Texas’ Velocity Credit Union has the highest long-term CD rates we’ve seen in awhile — but they’re only good through Nov. 21.

With a $5,000 minimum deposit, it’s paying:

  • 1.51% APY for 24-month CDs.
  • 2.12% APY for 36-month CDs.
  • 2.83% APY for 60-month CDs.

These special rates differ from the credit union’s standard — and slightly lower — CD rates. Find the special rates on Velocity’s promo page.

That 60-month rate is nearly six-tenths of a percentage point higher than the top nationally available 60-month CD rates on our latest CD Rates Leaderboard.

The 36-month rate beats its term leader by just over four-tenths of a percentage point; the 24-month rate, by a fifth of a percentage point.

Not too shabby at all.

You have to be a member of Velocity Credit Union to buy these certificates of deposit.

Membership is available to people who live or work in the counties of Bastrop, Caldwell, Hays, Travis or Williamson, or within a 10-mile radius of a branch or an ATM; who are related to a current credit union member; or who work for or are affiliated with one of the employers or organizations listed on the website (www.velocitycu.com).

But if you’re not in central Texas and can’t qualify through one of those avenues, you can pay $15 to join the Paramount Theater Association. You’ll find this option when filling out the online application.

Members can buy CDs online or at a branch. Velocity Credit Union has four branches in Austin and a fifth in Round Rock.

See how these returns compare with the best CD rates from scores of banks in our extensive database.

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Comments (2)
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2 Existing Comments
  1. SeniorSaver said:
    on November 15th at 02:58 pm

    I had a number of problems using Velocity’s online application system. The major one was that the system does not show the promotional rate. A CSR assured me that, if I deposited at least the $5k minimum, I’d receive the 2.12% APY promotional 3-year CD rate rather than the 1.71% APY that’s posted on the application system. When I completed funding yesterday, the rate initially booked was the 1.71%, but it was manually adjusted later to the 2.12%.
    There’s been some confusion expressed about the process, but the CSRs I’ve talked to have been very helpful, and I suggest calling before applying to make sure you’ll get what you want.

  2. Kathy at Bankaholic said:
    on November 28th at 08:45 am

    Velocity’s promo page says these rates are now available through Nov. 30.