Name: Velocity Credit Union
Partner for: 2 years with Bank On Central Texas
Partner with: Financial Opportunity
Since the launch of Bank On Central Texas (BOCT) in 2010, Velocity Credit Union has been a member of the coalition. BOCT, a program of United Way for Central Texas, aims to bank the unbanked by offering resources that link families and individuals directly with banking institutions that offer zero- or low-cost banking options.
This year, Velocity has also partnered with UWATX by attending financial education workshops, called Learn Where You Earn. At the workshops Velocity staff members are available to answer questions about banking and encourage participation in direct deposit.
What we’ve accomplished:
BOCT opened more than 6,000 bank accounts in its first year, saving Austinites $2 million in check-cashing fees.
How Velocity Credit Union makes Austin greater:
“Velocity has a strong ethic of social responsibility. They are committed to helping Austinites improve their financial wellbeing, which makes them an excellent partner.” – Faith Ryan, Director, Program Coordinator, Financial Opportunity.