Veridian Credit Union Brings Back 30-Month Jumbo Bump-Up CD Special

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Deal Summary: Jumbo Bump-Up CD Specials ($100k minimum) – 18-month (2.10% APY) and 30-month (2.60% APY).

Availability: Easy membership requirement through Dwolla; residents of all 99 Iowa counties and six southeast Nebraska counties.

For the last seven years, I have been writing about the Jumbo CD Specials and CD Specials offered on a regular basis by Iowa-based Veridian Credit Union (Veridian). These limited-time Specials continue to offer very competitive rates that remain in effect for at least a month or two.

The current lineup includes three CDs, with the 18-month Jumbo Bump-Up CD (2.10% APY) and the 30-month Jumbo Bump-Up CD (2.60% APY) offering the more competitive rates. The third special is a 12-month Jumbo CD (with no bump option) that earns a not-so-impressive 1.60% APY.

According to Veridian’s CD Rates page,

A Bump-Up is a one-time opportunity to convert your CD to the higher rate for the remainder of its term.

The minimum opening deposit for any Jumbo CD is $100k, with no stated balance cap. All three are available as “non-Jumbo” CD Specials ($1k minimum), with APYs a uniform 10 bps lower.

The Jumbo Bump-Up and non-Jumbo CD Specials are also offered as IRA Bump-Up CD Specials (Traditional, Roth, CESA), earning the same APYs with the same deposit requirements.

As stated in the CD Rate Schedule (page 25 of the Personal Product Disclosure), the Early Withdrawal Penalty reads as follows:

Terms of 1 year or less – 90 days’ interest

Terms of longer than 1 year – 180 days’ interest

According to CSR, funds to open a CD must be on deposit in a Veridian savings account before the CD can be opened. Funds can be transferred into a savings account by ACH or wire; debit or credit card funding is possible, but is limited to $500. Unfortunately, Veridian does not participate in the CO-OP Shared Branch network.

Maturing funds can be distributed through a cashier’s check or transferred into a Veridian savings account. There is a 10-day grace period before a CD automatically renews.

Availability

Headquartered in Waterloo, Iowa, Veridian Credit Union’s field of membership (FOM) includes almost any US citizen or resident alien who has a valid Social Security number.

Easy Membership – Veridian offers membership to registered users of Dwolla. The sixth eligibility option on the online application reads, “I have a Dwolla account.” The seventh option is “I’m not sure,” which links to a pop-up stating,

You can qualify for membership by joining Dwolla. Sign up for a Dwolla Account.

Residency – Individuals who live or work in any of Iowa’s 99 counties or six southeast Nebraska counties (Cass, Douglas, Lancaster, Sarpy, Saunders, and Washington) qualify for membership.

Relationship – Family members of individuals eligible for membership are also welcome to apply. Family is defined as “children (including foster, adoptive and stepchildren), siblings, grandparents, grandchildren, great-grandparents, great-grandchildren, aunts, uncles, nieces and nephews.” In addition,

If a member is deceased, his or her relatives are still eligible,
as are those who reside in the same household as a member.

Other – Any Iowa resident with disabilities (as defined by the "Americans with Disabilities Act of 1990") is also eligible for membership.

Complete details are available on the Veridian Membership page.

Joining Veridian Credit Union and/or opening a Jumbo Bump-Up CD Special can be done online, or at any of 25 Iowa branches located in Ankeny (3), Cedar Falls (3), Cedar Rapids (2) Coralville, Council Bluffs, Des Moines (2), Independence, Iowa City, Johnston, Oelwein, Waterloo (5), Waukee, Waverly, and West Des Moines (2). Veridian also has four Nebraska branches located in Omaha (3) and Papillion, Nebraska.

Appointments are available at all branch locations and can be scheduled online.

Opening a Member Equity Savings account with a $5 minimum deposit establishes membership in Veridian.

Credit Union Overview

Veridian Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.50% (excellent) based on December 31, 2021 data. In the past year, Veridian has increased its total non-brokered deposits by $696.87 million, an excellent annual growth rate of 16.17%. Please refer to our financial overview of Veridian Credit Union (NCUA Charter # 64418) for more details.

Veridian Credit Union was originally chartered in 1934 as the John Deere Employees Credit Union. As you might guess, the original membership was exclusive to John Deere employees. The FOM remained unchanged until 1986, when membership was extended to individuals living and/or working in nearby Cedar Falls. This prompted a small name change: John Deere Community Credit Union.

John Deere Community Credit Union always operated independently of Deere & Company, but in 2004, Deere requested that the use of "John Deere" be discontinued to avoid trademark confusion. As a result, the name was changed in 2006, with the new name, "Veridian," derived from the Latin words for truth (veritas) and growing (verdant). Veridian Credit Union is currently Iowa’s second largest credit union and the 51st largest credit union in the country, with more than 277,000 members and assets in excess of $5.8 billion.

How the 18-Month Jumbo Bump-Up CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, no banks or credit unions have higher rates than currently offered on the Veridian Credit Union 18-month Jumbo Bump-Up CD, regardless of minimum deposit requirements. The following table compares the Jumbo Bump-Up CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 30-Month Jumbo Bump-Up CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, two credit unions have higher rates than currently offered on the Veridian Credit Union 30-month Jumbo Bump-Up CD, regardless of minimum deposit requirements. The following table compares the 30-month Jumbo Bump-Up CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 5/26/2022.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Cedar Rapids CD rates, Omaha CD rates, Des Moines CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
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Availability: Easy membership requirement through Dwolla; residents of all 99 Iowa counties and six southeast Nebraska counties.

I have been writing about the Jumbo CD Specials and CD Specials offered by Iowa-based Veridian Credit Union (Veridian) for about seven years. These limited-time Specials have offered very competitive rates, which remained in effect for at least a month or two.

Veridian is currently offering three Specials, with the 36-month Jumbo CD (2.15% APY) and the 24-month...

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Availability: Easy membership requirement through Dwolla; residents of all 99 Iowa counties and six southeast Nebraska counties.

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Availability: Easy membership requirement through Dwolla; residents of all 99 Iowa counties and six southeast Nebraska counties.

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One of the competitive “New to Summary” CDs in this week’s CD Rates Summary is Veridian Credit Union's (Veridian) 9-month Jumbo CD Special, which currently earns 0.85% APY. The minimum opening deposit is $100k, with no stated balance cap. The CD Special is also offered as “non-Jumbo” CD Special, which can be opened with a $1k minimum deposit and earns...

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