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 2019, it had grown to 848 employees and 240,554 members at 31 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 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
3/19 - Bump Up 3.25 Percent 41 Month Cd
10/17 - 41 Month Bump Up Raised To 3.45% For 100K
9/19 - Veridian Credit Union Ups 18- and 41-Month Bump CD Rates
9/18 - Veridan 41-Month Bump-Up CD APY Increase.
8/22 - Veridian Credit Union Adds 41-Month Bump-Up Jumbo CD
7/19 - Get Your Membership Application In Fast For Veridian Credit Union, "Easy Membership" Status Seems To Be Closing Soon!
7/3 - 41 Month Bump Up 3.0/3.1%
5/2 - Veridian Credit Union Debuts 36-Month Jumbo CD Special
5/1 - Veridian CU Offering 2.65% APY On 24-Month CD
2/3 - Veridian CU Adds Nationally Available 18-Month CD Special
2/1 - Veridian CU Offering 18-Month CD At 2.28% APY
9/8 - New Nationally Available CD Specials At Veridian Credit Union
9/8 - Veridian CU raises CD Rates. Quick Look.
7/24 - Veridian CU Is Back On The Big List Of Credit Unions Anyone Can Join
7/21 - Veridian Credit Union Raises Rates On CD Specials
7/21 - Veridian Credit Union's Easy Membership Status
7/20 - Veridan CU 15 Month CD Up To 1.76%. Quick Look.
6/17 - Veridan CU 15 Month CD Up To 1.60%. Quick Look.
5/5 - Veridian CU Adds Nationally Available CD Specials
5/4 - CD Rate Increases
7/14/16 - Veridian CU — Rate Decrease On 25 Mth CD, Increase On 15 Mth
5/12/16 - Veridian Credit Union - 39Mo CD Rate Cuts But 15Mo CD Rate Hikes
5/5/16 - Veridian CU (Easy Membership) Has Competitive Long-Term CDs
5/4/16 - CD Specials Of Various Terms
5/29/15 - Veridian Credit Union (Iowa) Adds Series Of Competitive CD Specials
11/14/14 - Veridian Credit Union (IA) Celebrates 80 Years With 19-34 Month CD
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
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
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.
Good And Bad
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.
Avoid This Credit Union
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.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 64418 |
| Year Chartered | 1934 |
| Employees | 848 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.25% |
| Return on Equity - YTD | 11.84% |
| Annual Interest Income | $174.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $4.35B$4.15B |
| Loans | Q4 2019vs Q4 2018 | $3.96B$3.79B |
| Deposits | Q4 2019vs Q4 2018 | $3.66B$3.44B |
| Equity Capital | Q4 2019vs Q4 2018 | $456.5MM$400.0MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $23.3MM$20.1MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $26.4MM$19.5MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $387.00K$1.1MM |
