Veridian Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.85% | 3-year CD | 39 Month Special CD 1.85% - Synchrony Bank 36 Month CD |
| 1.60% | 18-month CD | 15 Month Special CD 1.45% - Synchrony Bank 18 Month CD |
| 1.80% | 2-year CD | 25 Month Special CD 1.65% - Synchrony Bank 24 Month CD |
Veridian Credit Union is headquartered in Waterloo and is the 2nd largest credit union in the state of Iowa. It is also the 58th largest credit union in the nation. It was established in 1934 and as of March of 2017, it had grown to 732 employees and 207,523 members at 29 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 the state of Iowa or those who live and work in Washington, Douglas, Sarpy, Saunders, Lancaster, and Cass Counties in Nebraska.
See current membership details
Related Posts
5/5 - Veridian CU Adds Nationally Available CD Specials
5/4 - CD Rate Increases
7/14 - Veridian CU — Rate Decrease On 25 Mth CD, Increase On 15 Mth
5/12 - Veridian Credit Union - 39Mo CD Rate Cuts But 15Mo CD Rate Hikes
5/5 - Veridian CU (Easy Membership) Has Competitive Long-Term CDs
5/4 - CD Specials Of Various Terms
8/29/14 - Veridian Credit Union (IA) Introduces A Series Of Attractive CD Specials
11/9/11 - Competition Leads to Top CD Rates in Iowa
4/20/11 - Competitive CD Rates at Veridian Credit Union in Iowa - Local Only
8/25/09 - 2.30% 15-Month CD & 2.60% 25-Month CD at Veridian Credit Union in Iowa - Local Only
| Featured Account Options | SPONSORED LISTINGS | ||||
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Top Notch - Veridian
I've been banking with Veridian ever since it was the John Deere Credit Union back in the early 90's. I absolutely love their service. I have on occasion, overwithdrawn my account in error and Veridian credits me back for the fees. Additionally, their money market account stayed competitive throughout the recession and only required a $1k deposit minimum. They're always pleasant to work with and their online chat feature has been operational for some time, even before most of the major big banks. I've had no issues trying to send funds to friends and family, using hte bill pay feature, or moving funds to and from accounts. Anytime I call, I'm on the phone for no more than 5min to solve my issue. Unfortunately I cannot bank in person as I currently live out of state, but the majority of my needs can be satisfied online. I would highly recommend this CU to anyone
Excellent Experience Opening CD With Veridian Credit Union
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.
Opened 25 Mo Jumbo CD Painlessly
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.
Great Rates, Nice People
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.
Data as of Q1 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 64418 |
| Year Chartered | 1934 |
| Employees | 732 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.08% |
| Return on Equity - YTD | 10.57% |
| Annual Interest Income | $26.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2017vs Q1 2016 | $3.22B$2.95B |
| Loans | Q1 2017vs Q1 2016 | $2.64B$2.19B |
| Deposits | Q1 2017vs Q1 2016 | $2.86B$2.61B |
| Equity Capital | Q1 2017vs Q1 2016 | $322.9MM$303.4MM |
| Loan Loss Allowance | Q1 2017vs Q1 2016 | $15.1MM$15.2MM |
| Unbacked Noncurrent Loans | Q1 2017vs Q1 2016 | $14.4MM$12.8MM |
| Real Estate Owned | Q1 2017vs Q1 2016 | $1.9MM$1.6MM |
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.
Veridan CU 15 Month CD Up To 1.60%. Quick Look.
Ken details easy membership, EWP, etc in his May 2017 blog post.
CD Rate Increases
9 month 1.2% APY (was 0.9%); non-jumbo 1.1%
25 month 1.9% APY (was 1.65%); non-jumbo 1.8%
39 month 1.95% APY (was 1.7%); non-jumbo 1.85%
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.
Veridian Credit Union Savings Account Rates
Veridian Credit Union Money Market Rates
Veridian Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.45%* | $50k* | - | Commercial Business Checking | ||
| OTHER TIERS: 0.05% → Up to $50k | |||||
| 0.05% | - | - | Deluxe Business Checking | ||
| 0.05% | - | - | Share Draft | ||
Veridian Credit Union CD Rates
Veridian Credit Union has 29 locations. Click to view all Veridian Credit Union locations.