Velocity Solutions

Account Holder Premium Card Rewards Program and Overdraft Management Solutions

Bronze Partner

2021 NAFCU Services Innovation Award Winner

Velocity Solutions offers comprehensive solutions designed to help your credit union:

  • Deepen existing member relationships
  • Drive new accounts
  • Increase non-interest income
  • Manage overdraft services

About Velocity Solutions, LLC.

Founded in 1995 and servicing the transaction accounts of over 30 million consumers and business owners, Velocity Solutions is the leading provider of revenue-driving solutions for community banks and credit unions.  Our Velocity Intelligent Platform™ powers all of Velocity’s solutions, using machine-led intelligence that delivers powerful analytics and drives revenue, deposits and loans to our client financial institutions. 

Our solutions address the changing regulatory landscape, evolving technology and consumer needs.  Our ability to swiftly and proactively develop innovative new solutions stems from our seasoned leadership team, providing a powerful mix of financial, analytical, legal, marketing and technical backgrounds. This unique blend of expertise allows us to develop a true consultative relationship with our clients and help them succeed within the ever-changing economic, technological and regulatory environments.

    Products and Services

    • Generate a new revenue stream by offering your members premium services and benefits for which they gladly will pay: bonus rewards, cash back, roadside assistance and even short-term loans.

      Flexible for Any Financial Institution

      One of the most attractive aspects of tying card-level perks and benefits to the checking account is the fact that you already have a trusted relationship with your members. Recognizing the value of your existing member base, this program can be adapted to meet the needs of your credit union.

      • Multiple tiered card levels can be implemented
      • Various perks and benefits appeal to different lifestyle and regional preferences
      • Trusted relationship under your brand

      With this program, your members can choose to upgrade to the My Rewards™ Platinum or Gold Debit card, and your business account members can select the new Business Platinum Debit Card, that provides additional benefits tailored to small business professionals, such as hotel & car rental discounts, $100,000 travel accident insurance, 24x7 remote tech support and more.

    • Velocity offers overdraft solutions for credit unions of all sizes, budgets and technical resources. The benefits of implementing one of Velocity’s Overdraft Management solutions: 

      • Minimal Resources Needed.  Our solutions are established and efficient, requiring limited time and resources from our clients.
      • Budget Considerations.
      • Compliance.  With our team of compliance and legal experts, our programs are guaranteed to be risk-free from a compliance standpoint. 

      Intelligent Limit System®

      Velocity ILSOur Intelligent Limit System® provides your credit union with automated tools and technology to manage overdraft services, while satisfying regulatory guidelines. 

      Click here to download the ILS information sheet

      ODM™ Guardian

      Velocity ODMOur ODM Guardian solution is one of the industry’s only overdraft management system that detects and mitigates risk, while helping your credit union better manage communications with your members. 

      Click here to download the ODM Guardian information sheet

      Both solutions include software to streamline daily tasks and provides a centralized solution for compliance tracking and reporting, and each overdraft program is customized to meet your credit union's needs. Whether you have a program in place or wish to launch a new service, Velocity Solutions provides the design, implementation and compliance expertise.

    • Velocity WhitepaperSmall-Dollar Lending: Help Your Members Weather the COVID-Induced Storm

      2021 is Here! Yet the Financial Storm Rages On We’ve all waited anxiously to bid “Good Riddance” to 2020, the year that introduced us to the COVID-19 pandemic. But according to recent numbers from the Congressional Budget Office, the nation’s unemployment rate will not return to its pre-pandemic levels through the rest of this decade, meaning millions could be out of work even after vaccines are widely distributed. The current unemployment rate continues to hover in the 6.3 - 6.7 percentage range, which is dramatically higher than just one year ago, when the unemployment rate hit a 50-year low of 3.5 percent. Our economy still has nearly 10 million fewer jobs than it did a year ago, indicating that the country’s job market will likely bear the scars of the pandemic recession for years. Are you prepared to provide affordable, responsible and convenient short-term liquidity options for your members?

      Click here to download the Whitepaper