Veridian Credit Union Debuts 36-Month Jumbo CD Special

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Deal Summary: Jumbo CD Specials - 24-month (2.65% APY) and 36-month (2.85% APY), $100k minimum deposit. CD Specials - 24-month (2.55% APY) and 36-month (2.75% APY), $1k minimum deposit.

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

Veridian Credit Union (Veridian) is again offering competitive CD Specials with tiered APYs The latest limited-time CDs are being promoted as Memorial Day Specials, giving a hint as to how long these rates may last. The minimum deposit for a Jumbo CD Special is $100k, with a regular CD Special requiring only a $1k minimum deposit.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.85%$100k-Veridian Credit Union36 Month Jumbo CD Special
2.75%$1k-Veridian Credit Union36 Month CD Special
2.65%$100k-Veridian Credit Union24 Month Jumbo CD Special
2.55%$1k-Veridian Credit Union24 Month CD Special
Rates as of May 24, 2018.

In a Live Chat, CSR confirmed that the Early Withdrawal Penalty for a CD with a term greater than 12 months is 180 days interest.

Thanks to DA reader, me1004, for his Forum post about Veridian’s Memorial Day CD Specials.

Availability

Headquartered in Waterloo, Iowa, Veridian Credit Union’s field of membership (FOM) provides a way for almost anyone to join.

Easy Membership - Veridian 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 any of Iowa’s 99 counties and six 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 “Parents, Children, Grandparents, Grandchildren, Brothers, Sisters, Great Grandparents, Great Grandchildren, Aunts, Uncles, Nieces, Nephews, including step or foster children, adoptive children.”

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). Veridian has also opened two Nebraska branches in Omaha and Papillion.

Credit Union Overview

Veridian Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.07% (excellent) based on December 30, 2017 data. In the past year, Veridian has increased its total non-brokered deposits by $242.28 million, an excellent annual growth rate of 8.86%. 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 suggests, original membership was exclusively for 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 52nd largest credit union in the country, with more than 215,500 members and assets in excess of $3.5 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 36-month Jumbo Special CD and Special CD APYs currently ranks first and second respectively, regardless of minimum deposit.

Interest RateCD Length of TermCredit Union/Bank
2.85% APY36-Month Jumbo CD Special ($100k min)Veridian Credit Union
2.75% APY36-Month CD Special ($1k min)Veridian Credit Union
2.70% APY36-Month CD ($1.5k min)Banesco USA

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, Veridian Credit Union's 24-month Jumbo Special CD and Special CD APYs currently ranks second and third respectively, regardless of minimum deposit.

Interest RateCD Length of TermCredit Union/Bank
2.80% APY24-Month CD ($1k min)Greenwood Credit Union
2.65% APY24-Month Jumbo CD Special ($100k min)Veridian Credit Union
2.55% APY24-Month CD Special ($1k min)Veridian Credit Union

The above rates are accurate as of 5/2/2018.

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, 5-year CD rates, nationwide deals

Comments
jib2424
jib2424   |     |   Comment #1
Doesn't Bank5 Connect's 24 month CD currently rank second?
Ken Tumin
Ken Tumin   |     |   Comment #5
Technically, Bank5 Connect's CDs aren't nationally available since they're not available in MA and RI.
jib2424
jib2424   |     |   Comment #6
Ken, You're right. I did not think about that. Thanks.
gregk
gregk   |     |   Comment #2
The problem with an offer like this is one worries.that by maturity rates will already be heading back down, and the opportunity to commit long at the peak of this present upsurge we're in be lost. Generally I'm staying short now with investable funds (no more than a 15 month commitment and mostly liquid, - I'm a timer rather than a ladderer) and will wait to see how high rates go before locking in at 5 to 7 years. My main concern is what to do towards year-end when NWFCU and PenFed 3% Certificates mature, - a momentous decision point for many of us.
jib2424
jib2424   |     |   Comment #3
When those certificates mature, why not lock in at highest long term rate then available?
Bogie
Bogie   |     |   Comment #4
It's all a gamble. That is why I ladder my CDs and receive a very good average interest without trying to second guess where the interest rates will be a couple of years from where ever.

I may not hit all the highs but then again, I never hit by all the lows.
jib2424
jib2424   |     |   Comment #7
I agree. Just go with whatever is the best deal available at the time.
me1004
me1004   |     |   Comment #8
Ken, are you SURE this is the rate after today? At their Website, yes, on the front page I see a reference to Memorial Day CD specials, but it does not say what they are nor give a link. At the Rates page, it says the postings there end at the end of today! So new listings tomorrow - they might be the same, but we don't know yet. What the CD rate chart says is that these rates have been in effect since April 26 and end at the end of today.

https://www.veridiancu.org/rates/account-rates/certificates-of-deposit.aspx

That notice on the front page about Memorial Day CD specials - we don't know what that refers to, it does not say and does not link to anything. It might even mean there will be a special AT Memorial Day, rather than the full month, we just don't know.

Unless you have otherwise confirmed. And I have learned to never believe what the CSR who answers the phone says, they spend too much time PRESUMING rather than knowing.
Thelma
Thelma   |     |   Comment #9
Veridian updates its rates every Thursday.

Don't assume the rates will last the full month, but they will likely last more than the first week.
me1004
me1004   |     |   Comment #10
Its now Thursday, and Veridian has updated its rate chart. The specials for the 24- and 36-month CDs hold. Oddly, while their last chart said its rates were through May 2, the current chart that only came out today, May 3, is backdated to May 1.
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