Verity Credit Union

I had some dealings with their lead commercial lender Sarah S. She did a great job in helping me out. I very much appreciated it and I’d recommend her for business dealings.

I moved to Washington in January of 2014. Previously, I had banked with a local credit union for three years that was excellent and never experienced any issues there. Unfortunately I had to close my account with them because I was leaving the state.
After comparing rates and checking out websites for different credit unions in Seattle, I decided to open an account with Verity. After almost a year with this credit union, I have to say my most recent experience is the final straw and I am already looking for a new credit union as I will not continue to bank with them.
1) I opted out of overdraft protection when I opened my account to avoid overdrafting my account in the first place. However, I authorized a payment from my account to my credit card company on a Sunday (the due date) when no financial institution that I know of operates, and was depositing my paycheck on Monday when the bank was open. I assumed that the charge would occur on Monday since no money ever moves electronically on Sundays. Instead, Verity charged me a $ 28 fee for overdrafting my account, didn’t cover the payment since I had opted out of overdraft protection, and then charged me another $ 28 fee for returned payment. I had to call and explain the situation to my credit card company, who was understanding and waived the negative implications and fees I would have incurred ordinarily from a late payment. When I went to Verity to ask them why I was charged these fees if I declined being able to overdraft my account, they explained that the opt-​out only applies to point-​of-​sale transactions but not external withdrawals, which is not explained in their overdraft literature. I was even more upset that I was charged not once but twice for this debacle! The branch rep eventually refunded me for the amount of both fees with the understanding that their policy was now evident to me.
2) I signed up for online banking when I opened my account, however, I wasn’t able to access online banking at all until this month (October — ten months after I opened my account). My passwords would never work, so Verity would reset it for me and then the passwords they would provide me would not work causing me to constantly be locked out of my online account. One of the stipulations for receiving the advertised interest rate on a Cartwheel Checking account is accessing your online banking, so for ten months I did not qualify to receive my advertised interest rate because their system did not work. The entire time, the Verity app on my phone worked just fine however accessing online banking through the mobile app does not count towards the interest rate requirements nor can you do very much with the app. Earlier this month, I needed to set up a transfer to someone else’s bank account at a different bank, and after calling two other branches and being unable to get a real human being to pick up the phone, I reached a rep at the Wallingford branch. I don’t know what she did but when she reset my account and I went to log-​in with the password she provided it actually worked! I was finally able to use this feature.
3) Apparently, if you get monthly statements in the mail (which you will receive automatically unless you choose to opt out), you are charged $ 2 per month which is not disclosed anywhere on their website or in their literature. I did not even see the charge in my bank statements until July! Furthermore, I was informed that if you go into a branch and ask to have past statements printed off for you, you will be charged $ 2 a page!
4) You are charged $ 20 for each transfer between your accounts in excess of 6 times per month.
The final straw for me occurred this month with the aforementioned transfer. After verifying deposit amounts to the bank account in question, I scheduled a transfer on the 16^th of October. On the 20^th of October, I was informed me they had not yet received the payment. I logged into my online account only to find that the transfer had been cancelled that day. Why? Apparently because they called an old phone number of mine to verify the transfer and were not able to reach me, is what I was told today by a rep. The funny thing is, there is no way in their online system to update your contact information, nor was it stated anywhere when I confirmed the transfer that they would call to verify. I also was not informed this was a part of the process when I spoke to the Wallingford rep over the phone about transferring between banks. As of today, their bill pay system (used for transfers) is down until further notice so I cannot even resend the payment that was due a week ago, nor do I know when I will be able to.
I will say Verity has excellent customer service and the reps for the most part are helpful and very nice (one star for that). However, banking with them has caused me consistent and considerable financial and emotional stress because I cannot rely on them. I will be moving to another institution and closing my account with th

Poor customer service! It’s almost impossible to get through on the phone either to a person or to automated info on your account. I have been with Verity for years because i live near but if I find another CU within walking distance I will switch.

I absolutely love this place!
The staff is always very friendly and willing to help out with whatever issues you need. If you’re looking for a new financial institution, I highly recommend a credit union. And if you’re searching for a credit union, I highly recommend Verity. The only stipulation is you have to live or work in Washington, which, come on, we all do.
I have previously banked with WaMu (now evil Chase) and the service here is unparalleled to what lackluster financial service I was used to.
Oh and they can print your debit card in branch, so you don’t have to wait for it.
Love it!

I switched to Verity because I was sick of the corporate bank atmosphere at my previous bank. I’d also heard about the Velocity account, and was intrigued.
The service has been fantastic. Every person with whom I’ve interacted has been knowledgeable, efficient, and friendly. Several times, they’ve saved my additional effort by just being really helpful. Additionally, the rate on the checking account is better than what I had on my previous savings account.
And, most vainly, the debit cards look really cool.

Wow. That’s even sadder than I could have even imagined. The individuals writing these reviews are clearly on Verity’s payroll… and only one has the sense to admit it. Those reviews read like paid ads most likely because they are!
Verity is a racket, pure and simple. They suckered me in with a whopping 6.75% interest rate. Even other credit unions could not touch that. Something had to give. First, the rate dropped to 5%, and then subsequently to 4.5, then 4, and now stands at 3.5%. That in and of itself would not be so bad were it not for their greed, ineptitude, and thick-​headedness that reminds me of Bank of America.
Whether it be the placing of my deposit money in someone else’s account, the fraudulent charges on my account which I could not get them to reverse, no matter how many slow-​witted employees I talked to, the dispensing of misleading information to a person I recommended to the service, Verity is always finding new ways to rob the customer, waste his/​her time, or make themselves look stupid.
In short, I recommend you stay FAR away from Verity and consider other options. BECU is the institution I chose, however Watermark and Qualstar are two other possibilities, and if you wish to check out a bank, there are Frontier, First Security of WA, and HomeStreet. Don’t get sucked in by flashy numbers. There is always more to the story!

I have been Velocitized! It sounded too good to be true, the 6.0% checking account but Dennis, the amazing teller at the Meridian branch explained it so simply and beautifully I couldn’t NOT be velocitized!
Not only do I get sweet interest, but ATM surcharges refunded, AND they handed me my shiny new Velocity Cheking Debit Card in MINUTES! No waiting for it in the mail… got to assign my own PIN too.
They thought of everything.

We signed up for Velocity checking for a number of reasons, not the least of which was that Terrell recommended it. Our B of A account had a huge minimum which we’ve unfortunately been under the last few months incurring a $ 15/​month charge. Crappy when we weren’t even getting interest on all that money. Then someone at work who I consider very wise said she hadn’t been with a bank in years, and I was pretty much sold (you all know it doesn’t take much with me. One infomercial usually does it).
We signed up on a Saturday and this weekend we’ll cancel our evil B of A account and move the rest of our money over. Bring on the dividends! Believe me, I’m creating a spreadsheet that will make sure we meet all the criteria every month (it’s really not that hard).
I feel good about being with Verity. Enough said!

My roomate had suggested this CU for a year and I finally joined after listening to Catherine Austin Fitts (google her) explain how important it is «invest in people, communities, natural resources, and diversified enterprises that you and your networks know and trust in a manner that creates real wealth and security for yourself, your family, and your business».
I’m glad I started an account here. Very personal place. Get more details by calling them. lovely.