Veridian Credit Union is headquartered in Waterloo and is the 2nd largest credit union in the state of Iowa. It is also the 51st largest credit union in the nation. It was established in 1934 and as of December of 2021, it had grown to 930 employees and 277,538 members at 29 locations. Veridian Credit Union's money market rates are 93% higher than the national average, and it boasts an A+ health rating.
Membership is 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. Membership is also open to registered users of Dwolla.
See current membership details
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
To make a long story short, I needed to fund a jumbo CD from two sources, an ACH transfer and a check. The rate was .35% higher than a non-jumbo, so I couldn't just ipen two CD's. I spoke with a customer service rep who told me several very important wrong things.
First, he told me the rates change every Thursday. The good rep told me they change once a month. This was a Monday, and my ACH would not arrive by Wednesday. Then he told me, that was ok because I could add to an existing CD at the original rate. I asked him at least 5 times if he was sure it was true, and he said yes, he had done it for other customers. According to him, all I had to do was send a note in asking to add the money to my existing CD.
I ended up paying $22 to overnight a check to Veridian (with a note to add it to an existing jumbo CD I had opened 2 days before).
Then I spoke with Kristen, who was fantastic. She told me I could not add to an existing CD, so they would deposit the check into my savings account and wait for the ACH to arrive in my savings account. Then I could open one new jumbo CD. Since she said the rates change once a month, there was no hurry. (She even offered to send me a copy of the policy when I expressed doubt). You can't open the jumbo online. You open a regular and they raise the rate when they process it. I told her I was nervous about that, so she said she would watch for my money and call me when it was there; and then she would open the jumbo CD over the phone. And she did just that.
When a rep tells you something that sounds too good to be true, no matter how certain they are, call and ask another person.
I had a CD with Veridian that recently matured and I requested that they close the account and wire the funds to an account that I have at another bank. They say that in order to do this I need to send them a written and *notarized* request. I’ve had CDs at over 20 banks and credit unions over the years and I’ve never once been told I need to send a notarized request to get my own money back. Really unbelievable and extremely poor customer service. I absolutely do not recommend doing business with these folks.
I opened my CD special today, they were friendly and helpful.
Overall | |
---|---|
NCUA # | 64418 |
Year Chartered | 1934 |
Employees | 930 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 2.04% |
Return on Equity - YTD | 18.32% |
Annual Interest Income | $192.4MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q4 2021vs Q4 2020 | $5.86B$5.13B |
Loans | Q4 2021vs Q4 2020 | $4.60B$4.25B |
Deposits | Q4 2021vs Q4 2020 | $5.02B$4.38B |
Equity Capital | Q4 2021vs Q4 2020 | $638.3MM$524.9MM |
Loan Loss Allowance | Q4 2021vs Q4 2020 | $24.2MM$26.4MM |
Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $16.3MM$21.1MM |
Real Estate Owned | Q4 2021vs Q4 2020 | $278.00K$609.00K |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.40% | $50 | - | HSA Savings | |
0.15% | $50 | - | IRA Savings | |
0.10% | $50 | - | Business Savings | |
0.10% | $50 | - | Member Equity Savings | |
0.10% | $5 | - | U.B.U. Teen Savings | |
0.10% | $50 | - | Holiday Club | |
0.05% | - | - | HSA Checking |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.20%* | $50k* | - | Commercial Business Checking | ||
OTHER TIERS: 0.05% → Up to $50k | |||||
0.05% | - | - | Deluxe Business Checking | ||
0.05% | - | - | Share Draft | ||
0.05% | - | - | Checking account |