In the past two years, Veridian Credit Union (Veridian) has been quite prolific when it comes to offering competitive short- and long-term CDs. The latest offering includes 25- and 39-month term lengths, in both Jumbo CD Special and regular CD Special formats. The minimum deposit for a Jumbo CD Special is $100k, with a regular CD Special requiring only a $1k minimum deposit.
|2.27%||$100k||-||Veridian Credit Union||39 Month Jumbo Special CD|
|2.17%||$1k||-||Veridian Credit Union||39 Month Special CD|
|2.02%||$100k||-||Veridian Credit Union||25 Month Jumbo Special CD|
|1.91%||$1k||-||Veridian Credit Union||25 Month Special CD|
According to CSR, the Early Withdrawal Penalty is based on the CD term length: the penalty for a CD with a term of 12 months or less, is equal to 90 days interest, while the penalty for a CD with a term greater than 12 months is 180 days interest.
Thanks to eagle-eyed DA reader, cumulus, for his Forum post about Veridian’s latest CD Specials.
Headquartered in Waterloo, Iowa, Veridian Credit Union’s field of membership (FOM) as a way for almost anyone to join.
Easy Membership - Veridian now offers membership to registered users of Dwolla. According to Dwolla’s website, "setting up an account is free, and there are no per transaction fees." Veridian’s Looking for Answers? page provides details about Dwolla (which is an agent of Veridian Credit Union and Compass Bank) and a direct link to Dwolla.
Residency - Individuals who live or work in all of Iowa’s 99 counties and five Nebraska counties (Cass, Douglas, Sarpy, Saunders, and Washington) qualify for membership.
Other - Any residents of Iowa with disabilities (as defined by the "Americans with Disabilities Act of 1990") are also eligible for membership, regardless of the Iowa county in which they reside. For more details, please refer to Veridian’s Membership page.
Joining Veridian Credit Union and/or opening a Special CD can be done online, or at any of 28 Iowa branches located in Ankeny (3), Cedar Falls (4), Cedar Rapids (3) Coralville, Council Bluffs, Des Moines (2), Independence, Iowa City, Johnston, Marion, Oelwein, Waterloo (6), Waverly, and West Des Moines (2). A Nebraska branch in Omaha (Maple Road) was recently opened.
Credit Union Overview
Veridian Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.16% (excellent) based on June 30, 2017 data. In the past year, Veridian has increased its total non-brokered deposits by $222.84 million, an excellent annual growth rate of 8.48%. 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 the name would suggest, original membership was exclusively John Deere employees, and it remained that way until 1986 when membership was extended to those living 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 57th largest credit union in the country, with more than 211,300 members and assets in excess of $3.3 billion.
How the Special CDs Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, Veridian Credit Union's 25-month Jumbo Special CD and Special CD APYs currently ranks first and third respectively, regardless of minimum deposit.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, Veridian Credit Union's 39-month Jumbo Special CD and Special CD APYs currently ranks first and third respectively, regardless of minimum deposit.
The above rates are accurate as of 9/8/2017.