BEWARE of Velocity Federal Credit Union in Austin, Texas

These jerks are a never-ending hassle.

I took out a five-year CD with them, and they never notified me by regular mail shortly before the maturity date. Never had that happen before with any other financial institution. I shudder to think of the penalty I would have paid had I not been keeping a close eye on things. Then they thought of every requirement imaginable for me to obtain my money. First, they wanted me to fax a request to withdraw my money. After I had done that, they "remembered" that I would have to include a copy of a photo ID. Then that had to be sent to management "for approval." Delayed me obtaining my money for two weeks. Totally inexcusable.

Now I'm having a miserable time getting them to send me the amount of interest to report for tax purposes for 2016. They've come up with similar stuff to what they required for me to get my money, even though they are required by law to issue a 1099-INT. They refuse to send me the info by email.

Heed my warning - AVOID 'EM LIKE THE PLAGUE.

3/24/2017 update - The info arrived in yesterday's mail. Velocity waited until Monday to send it - maybe everything had to be approved by management before they could act. Shakin' my head.

3/23/2017 update - Tomorrow will be a week since I published this post and sent Velocity a link. They quickly replied that they would send the 1099-INT by regular mail. It SHOULD have been mailed to me last Friday, but I haven't seen it yet, which is no surprise.