Veridian Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
1.60%	3-year CD	39 Month Special CD 1.55% - Ally Bank High Yield 3 Year CD
1.50%	18-month CD	15 Month Special CD 1.30% - Ally Bank High Yield 18-Month CD
1.55%	2-year CD	25 Month Special CD 1.30% - Ally Bank Raise Your Rate 2-Year CD

View all Veridian Credit Union rates »

Overview / Commentary

veridiancu.org

800-235-3228

1827 Ansborough Ave
Waterloo, IA 50701

Veridian Credit Union is headquartered in Waterloo and is the 2^nd largest credit union in the state of Iowa. It is also the 58^th largest credit union in the nation. It was established in 1934 and as of June of 2016, it had grown to 692 employees and 199,707 members at 27 locations. Veridian Credit Union's money market rates are 2X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Veridian Credit Union is open to anyone by registering for Dwolla. Membership is also open to those who live or work in Adair, Benton, Allamakee, Boone, Black Hawk, Bremer, Butler, Buchanan, Cass, Cerro Gordo, Cedar, Jasper, Johnson, Jones, Chickasaw, Clayton, Dallas, Delaware, Fayette, Floyd, Franklin, Grundy, Hardin, Harrison, Iowa, Linn, Louisa, Madison, Marion, Marshall, Mills, Muscatine, Polk, Pottawattamie, Poweshiek, Story, Tama, Warren, Washington, and Winneshiek Counties in Iowa or Cass, Douglas, Sarpy, Saunders, and Washington Counties in Nebraska.
See current membership details

Great Rates, Nice People

Posted by: Gingerdusty | Aug 5, 2016

Veridian is offering great CD rates for a Jumbo CD. As a retiree, I appreciate the opportunity to earn a little more money, thus extending the time before I have to start eating dog food for dinner (joke). The staff is really friendly but I would expect that from people in Iowa. I worked in Iowa City for 6 years and found midwesterners, by and large, to be really nice people. Great credit union and easy to join.

Reply

1

Excellent Experience Opening CD With Veridian Credit Union

Posted by: me1004 | Jul 16, 2016

I have now completed opening a membership, CD and checking account with Veridian Credit Union, and the experience was mainly excellent. Most noteworthy was the customer service -- all the people I dealt with were clear, knowledgeable, helpful, nice and friendly, and on the ball. Unfortunately, customer service that good is rare nowadays at most places.

While they were all pretty much equally excellent, I give special thanks to Jessica, who, seeing some complications with the mailing, volunteered to shepard me through the opening, including me using postal mail to send in my check.

I joined in advance by registering online for free with Dwolla, and that was accomplished pretty much immediately, no delay (so anyone who wants to send me money via Dwolla is now welcome to do so. :) That was simple, fast, no special sensitive information needed. Once I got the confirmation e-mail a short time later, I was able to go online and join the CU, funding my share account via the ACH (took about 3-4 business days for the money to get to my share savings). And now that I'm a CU member and my accounts are all opened, I can drop Dwolla any time I want (for those concerned about keeping that info secure), as once a member, always a member.

The signup process included the system asking three questions gleaned from credit reports (I have had other places do this too), some of that information fairly old. I answered them all correctly, so no issues, all was smooth. I did not need to provide any further identification or notarization, as some other people report, I presume because I answered the questions correctly.

The main problem with opening a CD here is that if you are not local in Iowa, well, they are not a member of the shared branch system, so you can't just go to a branch of another CU near you in order to immediately and directly deposit a check to Veridian. (I was able to fund the share savings during opening via the ACH at no charge from Veridian.) So, I had to fall back on mailing in a check -- and the post office was late in delivering, more than three days, and I got afraid I had forgotten to put a stamp on the envelop and so used priority mail to send another, only to hear that the following day the original mailing arrived, I had put a stamp on it -- a mess that would have been avoided if they were in the shared branch system. But the customer service was great, they cooperated completely with the mess.

Of course, you also can fund your account via Fed wire or via the ACH, but fees and time delays of their own with the ACH and time delays on weekends with Fed wire are involved in that (Veridian is open on Saturdays).

This mail issue is the big issue. I believe, kind of guessing, that the CU only recently made it possible for anyone in the country to join by registering for Dwolla. While they were strictly local, the shared branch system was a lot less necessary. I'm hoping they will now look into it and join in the shared branch system, and I for one have sent them a message asking them to do so, and I encourage anyone else to do the same.

There fees seem pretty routine, fewer than many places.The one that bothers me is a $2 for initiating an outgoing ACH through Veridian; however, if you initiative it from the outside institution, Veridian does not charge that fee for it going out. (Inbound ACH is free, even when initiated via Veridian.) The exception to that fee seems to be when opening the membership and funding the share savings account.

I alert, they have some bad language on their Website that certainly can be read to mean the rate on CDs is variable. I queried, and they said no, it is not variable, it is locked, and they said they were referring that issue over the the proper people to look into changing on the Website.

They generally review rates weekly and make any changed on Thursday. This can interfere with you if mailing in a deposit for a CD - the rater can change between the time you post the mail and they receive it, and you cannot lock in your rate at time of mailing. Again, this consideration could be set aside if they were in the shared branch system. But they were good with working with me on that, did not proceed with the CD without first contacting me and seeing if I wanted to at the rate in place when they got the check.

They have only one checking account generally available, and it is free, no fees, no minimum, and it still gets some tiny interest, currently 0.05% APY. While they as a matter of routine charge for a few temporary checks up front, upon my request, they were happy to send me a first set of 8 temporary checks free.

The share savings currently gets a tiny amount too, 0.15% APY.

2

Opened 25 Mo Jumbo CD Painlessly

Posted by: beth | Jun 1, 2016

Signed up for a Dwolla account, deposited $5 in the Veridian savings account, provided the CSR with a copy of a utility bill & notarized drivers license. Sent a check to Veridian with a note to open the CD, term, and amount. The CD was opened the same day they received the funds. Now I just have to get my beneficiaries added to the account. It took a little work but was able to get the 1.85% APY.

5

Unable To Open CD Via ETF Transfer

Posted by: GailMcG | Aug 24, 2016

After spending way too much time opening my required $5 minimum account at Veridian, I then found out the only way to open CD's is to do it by snail mail or wire transfer. Of course, snail mail is too slow and I am not going to pay a wire transfer fee. I called them to determine if there was another way as obviously they had withdrawn $5 from my bank via ETF. The answer is no so I told them to close the account and refund my $5.00. I wasted way too much time with them and will never deal with a small institution again. If time isn't important to you, maybe this credit union is OK but not for me.

1

VIEW MORE REVIEWS

Health

A

Data as of Q2 2016

Learn more about bank health

Health Grade Components

Overall
NCUA #	64418
Year Chartered	1934
Employees	692
Primary Regulator

Profit Margin
Return on Assets - YTD	0.77%
Return on Equity - YTD	7.39%
Annual Interest Income	$47.8MM

Assets and Liabilities
Assets	Q2 2016vs Q2 2015	$2.99B$2.73B
Loans	Q2 2016vs Q2 2015	$2.31B$1.99B
Deposits	Q2 2016vs Q2 2015	$2.64B$2.42B
Equity Capital	Q2 2016vs Q2 2015	$310.6MM$286.0MM
Loan Loss Allowance	Q2 2016vs Q2 2015	$14.1MM$13.1MM
Unbacked Noncurrent Loans	Q2 2016vs Q2 2015	$14.1MM$15.1MM
Real Estate Owned	Q2 2016vs Q2 2015	$1.5MM$1.4MM

User-submitted Promotions & Notices

Submit a Promo

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Veridian Drops Rates For Most CD Terms 1 Year & Above

Sylvia | Jul 28, 2016

Of 11 non-jumbo CDs requiring $1000 minimum, I count 7 with a decline in rates, 3 no change, 1 increase. Top rate remains the 39 month, albeit 1.70% APY for $100K min and 1.60% for $1K min, from 1.90% and 1.75%, respectively.

Reply

5

Veridian CU — Rate Decrease On 25 Mth CD, Increase On 15 Mth

Sylvia | Jul 14, 2016

Effective July 14 thru July 20:

1.85% APY 25 Mth $100K min (from 1.95%)
1.70% APY 25 Mth $1K min (from 1.80%)

1.65% APY 15 Mth $100K min (from 1.55%)
1.50% APY 15 Mth $1K min (from 1.40%)

Reply

6

Rates

Skip to rates for:

Savings
Money Market
Checking
CD

Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Veridian Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.