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Veridian Credit Union


Overview / Commentary
veridiancu.org
800-235-3228
1827 Ansborough Ave
Waterloo, IA 50701

Veridian Credit Union is headquartered in Waterloo and is the 2nd largest credit union in the state of Iowa. It is also the 52nd largest credit union in the nation. It was established in 1934 and as of June of 2020, it had grown to 825 employees and 246,612 members at 31 locations. Veridian Credit Union's money market rates are 93% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

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

Related Posts

Veridian Credit Union Adds 12-Month Jumbo CD, 2.20% APY - 12/11/2019

Veridian Credit Union (easy membership) has added to Jumbo CD Specials: 12-month (2.20% APY) and 21-month (2.25% APY). Min deposit is $100k. Also as IRAs.

View all posts from:


Reviews (23)

Top Notch - Veridian

Posted by: |

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

11

Opened 25 Mo Jumbo CD Painlessly

Posted by: |

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.

8

Good And Bad

Posted by: |

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.

6

Avoid This Credit Union

Posted by: |

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.

4
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Health
A

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #64418
Year Chartered1934
Employees825
Primary Regulator
Profit Margin
Return on Assets - YTD1.1%
Return on Equity - YTD10.64%
Annual Interest Income$91.4MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$4.79B$4.26B
LoansQ2 2020vs Q2 2019$4.07B$3.89B
DepositsQ2 2020vs Q2 2019$4.08B$3.61B
Equity CapitalQ2 2020vs Q2 2019$482.5MM$427.6MM
Loan Loss AllowanceQ2 2020vs Q2 2019$27.3MM$20.7MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$23.0MM$18.0MM
Real Estate OwnedQ2 2020vs Q2 2019$347.00K$789.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW 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

Veridian Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%*$250k*-Premier Money Market
OTHER TIERS: 0.35% → $25k - $50k | 0.55% → $50k - $100k | 0.70% → $100k - $250k
0.85%*$250k*-Commercial Premier Money Market
OTHER TIERS: 0.35% → $25k - $50k | 0.55% → $50k - $100k | 0.70% → $100k - $250k
0.15%$1k-Traditional Money Market

Veridian Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%*$50k*-Commercial Business Checking
OTHER TIERS: 0.05% → Up to $50k
0.05%--Deluxe Business Checking
0.05%--Share Draft
0.05%--Checking account

Veridian Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.95%$100k-41 Month Bump Up Jumbo CD
0.95%$100k-12 Month Jumbo CD Special
0.95%$100k-12 Month Jumbo HSA CD Special
0.85%$100k-39 Month Jumbo CD Special
0.85%$1k$100k41 Month Bump Up CD
0.85%$100k-39 Month Jumbo HSA CD Special
0.85%$1k-12 Month CD Special
0.85%$1k-12 Month HSA CD Special
0.80%$100k-36 Month Jumbo CD Special
0.80%$100k-30 Month Bump-Up Jumbo CD
0.80%$100k-36 Month Jumbo HSA CD Special
0.75%$1k-39 Month CD Special
0.75%$100k-24 Month Jumbo CD Special
0.75%$1k-39 Month HSA CD Special
0.75%$100k-21 Month Jumbo CD Special
0.75%$100k-21 Month Jumbo HSA CD Special
0.70%$1k-30 Month Bump-Up CD
0.70%$100k-18 Month Jumbo CD Special
0.70%$1k-36 Month CD Special
0.70%$100k-18 Month Bump-Up Jumbo CD
0.70%$100k-18 Month Jumbo HSA CD Special
0.70%$1k-36 Month HSA CD Special
0.65%$1k-24 Month CD Special
0.65%$1k-21 Month CD Special
0.65%$1k-21 Month HSA CD Special
0.60%$100k-15 Month Jumbo CD Special
0.60%$1k-18 Month CD Special
0.60%$1k-18 Month Bump-Up CD
0.60%$100k-15 Month Jumbo HSA CD Special
0.60%$1k-18 Month HSA CD Special
0.50%$1k-15 Month CD Special
0.50%$100k-9 Month Jumbo CD Special
0.50%$1k-15 Month HSA CD Special
0.50%$100k-9 Month Jumbo HSA CD Special
0.40%$1k-9 Month CD Special
0.40%*$500*-12 Month Add-On CD
OTHER TIERS: 0.35% → $50 - $500
0.40%$100k-7 Month Jumbo CD Special
0.40%$100-12-60 Month U.B.U. CD
0.40%$100-12-60 Month Youth CD
0.40%$100k-7 Month Jumbo HSA CD Special
0.40%$1k-9 Month HSA CD Special
0.30%$1k-7 Month CD Special
0.30%$1k-7 Month HSA CD Special

Veridian Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.95%$100k-41 Month Bump Up Jumbo IRA Special
0.95%$100k-12 Month Jumbo IRA Special
0.85%$100k-39 Month Jumbo IRA Special
0.85%$1k$100k41 Month Bump Up IRA Special
0.85%$1k-12 Month IRA Special
0.80%$100k-36 Month Jumbo IRA Special
0.80%$100k-30 Month Bump-Up Jumbo IRA
0.75%$100k-24 Month Jumbo IRA Special
0.75%$1k-39 Month IRA Special
0.75%$100k-21 Month Jumbo IRA Special
0.70%$100k-18 Month Bump-Up Jumbo IRA Special
0.70%$100k-18 Month Jumbo IRA Special
0.70%$1k-30 Month Bump-Up IRA
0.70%$1k-36 Month IRA Special
0.65%$1k-24 Month IRA Special
0.65%$1k-21 Month IRA Special
0.60%$100k-15 Month Jumbo IRA Special
0.60%$1k-18 Month Bump-Up IRA Special
0.60%$1k-18 Month IRA Special
0.50%$100k-9 Month Jumbo IRA Special
0.50%$1k-15 Month IRA Special
0.40%$100k-7 Month Jumbo IRA Special
0.40%$1k-9 Month IRA Special
0.30%$1k-7 Month IRA Special
Locations

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