velocity
i ns i d e r
member newsletter :: july 2014
Our debit card rewards program is changing for the better.
Important changes regarding the debit card rewards program
are coming! On July 21, 2014, we will be converting from Perks
Everyday® (the current program) to ScoreCard® Rewards.
This change will allow you to combine rewards points from your
debit cards with rewards points from the Velocity credit card. By
merging your rewards points from both cards, as well as being able
to “household” points (that is
combine points with other
users in your household), you’ll
be earning rewards faster than
ever!
This would be a great time to
take advantage of our current
Upcoming Holiday Closures
In observation of the following holidays, Velocity Credit Union will
be closed on:
Friday, July 4: Independence Day
Did you know? For about two decades after the
Declaration of Independence was signed, July 4
was not widely celebrated due to the ongoing
development in the country, prompting John
Adams to complain in a letter that America
seemed uninterested in its past. (We John Adams!)
Monday, Sep. 1: Labor Day
Did you know? In the late 19th century, most
Americans worked 12-hour days, seven days a
week to earn a living, including children as young
as five. In 1916, the Adamson Act established the
8-hour work day.
promotion with the Velocity rewards Visa credit card, and earn
20,000 bonus points when you open a new card and meet certain
criteria*. With the combined buying power of both your debit and
credit cards, you’ll be reaching new rewards levels in no time.
(See the article below for more details.)
Rewards debit cards are becoming increasingly rare in the financial
industry. We are pleased that we can continue to offer you, our
members, this valuable benefit. If you have questions, please stop
by a branch, give us a call at 512-469-7000, or visit www.velocitycu.
com/debit_rewards.
*Restrictions apply. Bonus Rewards points not available to existing
Velocity VISA Platinum Rewards cardholders. Cash advances,
balance transfers and account fees do not earn bonus points.
What are the changes to the
debit rewards program?
One of the best things about the conversion to ScoreCard Rewards
is that members may now combine their debit card rewards points
WITH points earned from their Velocity rewards credit card. Plus,
with ScoreCard Rewards, you’ll be able to redeem rewards with far
fewer points. Your current points under Perks Everyday will transfer
over to ScoreCard at the new accrual rate of 3 to 1. That is, based
upon the new, much lower reward levels, your Perks Everyday
points will convert at a 3 to 1 ratio. (Ex: 24,000 Perks Everyday points
will convert to 8,000 points under ScoreCard Rewards.)
Perks Everyday
ScoreCard Rewards
$50 gift card
20,000 points
7,500 points
Air travel (ex:) AUS-NYC
105,000 points
27,500 points
32” TV (LED 720p)
77,500 points
34,400 points
Example
Sources: constitutionfacts.com, forbes.com
Shreddy, set, go!
Every minute, about 19 people fall victim to
identity theft. Take steps to protect yourself!
Stop by Velocity’s next Shred Day, which is
scheduled for Thursday, Sep. 25 from
11 a.m. to 1 p.m. Bring your shredables (up
to two file boxes) to Velocity’s Main branch
(610 E. 11th St.).
Source: transunion.com
Look for upcoming promotions where you can earn two to three
times the points on certain everyday purchases!
Debit rewards purchases will earn one (1) point for every $3 spent
on signature-based transactions. The Velocity rewards Visa credit
card earns one (1) point for every $1 spent. Plus, we are extending
the points expiration period from four years to five years.
If you were saving for something specific with Perks Everyday and
would like to redeem your current points through Perks (velocitycu.
perkseveryday.com), you can do so until July 19, 2014.
velocity
i ns i d e r
member newsletter :: july 2014
21st Annual Velocity Scholarship Awards
Velocity congratulates the winners of the 21st annual scholarship awards.
The reception was held on June 11 and honored four exceptional
graduating seniors (and credit union members) and their achievements.
The four high school graduates, who each received a $2,000 scholarship,
were Kinzie Milare, a graduate of Cedar Ridge High School, who will
attend Texas Tech University in the fall; Jorge Reynoso, a Crockett High
School graduate, who plans to attend Texas A&M University; Zach Santos,
a graduate of Round Rock High School, attending the University of Texas;
and Jesus Aldape, Jr., Akins High School graduate, who will also head to
Texas A&M.
In addition, Velocity awarded seven “ongoing” scholarships to help
previous winners continue their college education. These scholarships
were awarded to Laura Longnecker and Maria Tovar, both from Texas A&M;
Jasmine Washington, who attends the University of Texas; Ariel Frazier
from Lehigh University in Pennsylvania; Victoria Andrews, who attends
Texas Tech University; Ricci Bostick of Hampton University in Virginia; and
Thomas Massad, who attends Georgetown University in Washington, D.C.
2014 Velocity scholarship winners, from left to right: Jesus Aldape, Jr., Jorge
Reynoso, Kinzie Milare. (Not pictured: Zach Santos)
And the award goes to...
Keep Austin Local
Velocity Credit Union was recently recognized by the Marketing
Association of Credit Unions and Card Services for Credit
Unions (CSCU) for outstanding achievements in marketing. In
the nationwide competitions, Velocity was honored for recent
campaigns promoting the App/mobile deposit, a specialty logo, and
last year’s credit card initiative.
Have you ever thought about just how
much shopping local helps Austin’s
economy?
Velocity Credit Union
Silver Award
Outdoor
Velocity Credit Union
Silver Award
Logo
Velocity Credit Union
Cameo Award
Credit card campaign
Consider this: Out of every $100
spent at a chain store, only $13 stays
in Austin. However, if you spend $100 at a local business, $45
stays in Austin. Just another great reason to go local! For more
information, please visit www.ibuyaustin.com.
Documents Available to Members
Upon request, members are entitled to review or receive
a copy of the following credit union documents: Balance
Sheet & Income Statement, summary of the most recent
annual audit, written board policy regarding access to the
articles of incorporation, bylaws, rules, guidelines, and
board policies, and Internal Revenue Service Form 990.
Save with Sprint!
Sprint offers valuable savings on monthly wireless bills—plus waived activation and upgrade fees. It’s all possible
through Sprint’s Credit Union Member Discount program. Velocity members can save 10% off* select personal
Sprint plans or 15% off* select business Sprint plans. Members can also receive waived activation fee on new
activations and waived upgrade fees. These discounts are available to new and existing Sprint customers.
There are several ways to get your discount. You can visit LoveMyCreditUnion.org/Sprint or through Velocity’s
website. If you’d prefer, just visit a Sprint store and tell them you’re a credit union member. Or you can call 877.728.3428, tell them you’re
a credit union member, and give them the “Corporate ID” NACUC_ZZM. Start saving with Sprint today!
*Application of discount requires 2-year contract extension on existing plans. Verification of membership is required at time of activation/upgrade. Discount not available on secondary lines for Family and Business Share plans.
All rights reserved. Sprint, the logo, and other trademarks are the trademarks of Sprint Nextel.
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