Veridian Credit Union Boosts 41-Month Jumbo CD To 3.45% APY

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Deal Summary: Bump-Up Jumbo CDs ($100k min) – 18-month (3.05% APY) and 41-month (3.45% APY). Bump-Up CD ($1k min) – 18-month (2.85% APY) and 41-month (3.25% APY).

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

In September, Veridian Credit Union (Veridian) raised the rates on its 18-month and 41-month Bump-Up CDs and Jumbo Bump-Up CDs. Earlier in the week, Veridian raised rates again, adding 20 bps to the 18-month Bump-Up Jumbo CD and 10 bps to the 41-month Bump-Up Jumbo CD. While the 18-month Bump-Up CD gained 10 bps, the 41-month Bump-Up CD rate remains unchanged. The Bump-Up Jumbo CDs require a minimum $100k deposit, with the regular Bump-Up CDs calling for a $1k minimum opening deposit.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.45%$100k-Veridian Credit Union41 Month Bump Up Jumbo CD Special
3.25%$1k$100kVeridian Credit Union41 Month Bump Up CD Special
3.05%$100k-Veridian Credit Union18 Month Bump-Up Jumbo CD Special
2.85%$1k-Veridian Credit Union18 Month Bump-Up CD Special
Rates as of November 16, 2018.

As stated on the 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.

DA readers may remember that in the September blog post about these two Bump-Up CDs, I mentioned that the “usefulness of the bump-up option is questionable,” because it only applied to a CD with the same term length. Well, Veridian has raised the rates on those same length-of-term CDs, so if you opened one in the past month, you might want to exercise the bump-up option.

As stated in Veridian’s Truth-in-Savings document, the Early Withdrawal Penalty reads as follows:

Terms of longer than 1 year – 180 days’ interest

Availability

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

Easy Membership - Veridian offers membership to registered users of Dwolla. The fourth eligibility option on the online application reads, “I’m a registered user of Dwolla (Click here to register).”

DA reader, racecar, voiced this concern in a Forum Post this week,

Up to now, those not living in Iowa or parts of Nebraska (or in the SEGs) could join Veridian by opening up a consumer Dwolla account. However the consumer end of Dwolla is going away. They will not accept new memberships beginning some point this month (Oct 2018) and by Dec 3 2018 all consumer accounts will be closed (an email was sent telling people to please move their money out of their Dwolla accounts.

I asked my contact at Veridian about this and received this reply,

While Dwolla is sun-setting their Transfer product for p2p transactions, they’ve also confirmed that the change will not affect Veridian members or their eligibility. Members’ affiliation with Dwolla for their Veridian account will remain the same. The Dwolla link on our website will also remain active for new Veridian memberships.

UPDATE 10/19/2018: After reading the comments below by me1004 and syncomm1, I tried the link to Dwolla on Veridian’s website. While the link is functional, it leads to,

Notice: The ability to register for Dwolla’s legacy product, Transfer, is no longer available. We apologize for any inconvenience and encourage you to first reach out to the business or organization that has directed you to register for an account on this webpage.

I then did a Live Chat with Veridian.

If you go directly to https://www.dwolla.com/register/customers?account=812-285-6793 you should be able to register for that Dwolla account. They are limiting the ability to transfer from personal accounts because they are moving away from dealing with personal accounts. As long as you register with Dwolla and open a membership with Veridian, you could then link an account at another financial [institution] to make transfers though.

Residency - Individuals who live or work in any of Iowa’s 99 counties and 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 “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.

Complete details are available on Veridian’s Membership page.

Joining Veridian Credit Union and/or opening a Bump-Up CD can be done online, or at any of 27 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 (5), Waverly, and West Des Moines (2). Veridian’s newest branch locations are located in Omaha (2) and Papillion, Nebraska.

Credit Union Overview

Veridian Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.77% (excellent) based on June 30, 2018 data. In the past year, Veridian has increased its total non-brokered deposits by $349.66 million, an excellent annual growth rate of 12.27%. 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 50th largest credit union in the country, with nearly 221,600 members and assets in excess of $3.9 billion.

How the Bump-Up CDs Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, Veridian Credit Union's 41-month Bump-Up Jumbo CD APYs currently ranks first, regardless of minimum deposit.

Interest RateCD Length of TermCredit Union/Bank
3.45% APY41-Month Bump-Up Jumbo CD ($100k min)Veridian Credit Union
3.41% APY40-Month Jumbo CD ($90k min)Centris Federal Credit Union
3.35% APY3-Year Term Deposit ($500 min)Mountain America Credit Union

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, Veridian Credit Union's 18-month Bump-Up Jumbo CD and CD APYs currently rank first and fourth, regardless of minimum deposit.

Interest RateCD Length of TermCredit Union/Bank
3.05% APY18-Month Bump-Up Jumbo CD ($100k min)Veridian Credit Union
3.04% APYOnline 19-Month CD ($500 min)MutualOne Bank
3.00% APY16-Month Fall CD Special ($1k min)Premier America Credit Union
2.85% APY18-Month Bump-Up CD ($1k min)Veridian Credit Union

The above rates are accurate as of 10/19/2018.

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, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
me1004
me1004   |     |   Comment #1
Ken, from what you wrote about the easy CU membership and Dwolla ceasing to take new consumer memberships (I had read that earlier post in the forums), I think you might have misinterpreted what the CSR said.

It sounds to me like the CSR was saying that only those who already are members of Dwolla could continue membership, under the common once-a-member-always-a-member rule.

Seems to me that if individuals no longer can join Dwolla in order to get membership, and that was the only route for easy membership, then Verdian is no longer an easy membership CU — unless and until Veridian comes up with another way for people to join.
???
???   |     |   Comment #3
its easy for Locals
me1004
me1004   |     |   Comment #8
Yes, but that isn't what the term "easy Membership" means at this Website.
syncomm1
syncomm1   |     |   Comment #2
That Dwolla link is no longer active. Maybe a call will reveal an alternate way to join. If not, oh well
#4 - This comment has been removed for violating our comment policy.
#5 - This comment has been removed for violating our comment policy.
Sangiovese
Sangiovese   |     |   Comment #6
Anybody having any luck funding the CD via electronic transfer or via a deposit at another CU? They are telling me I have to mail a check or wire it in. I can't make a deposit at a local CU and the electronic transfer limit is only a few thousand per day. By the time the paper check arrives, who knows if the deal will still be available? They would not tell me how long the deal is valid.
hank
hank   |     |   Comment #7
yes, I have done ach from ally to veridian
me1004
me1004   |     |   Comment #9
I don't know what they might be doing now, but in the past I have used a shared branch to deposit to my savings. You might want to check back and make sure you talk with a different CSR.
Sylvia
Sylvia   |     |   Comment #10
Veridian does charge for incoming wires ($10 domestic) but it will most likely be your quickest option. Alternatively, if you’ve got an outside bank with higher ACH limits, you can always initiate xfer from there. Between having to get Veridian account verified and the usual lag in execution, it won’t be as quick as a wire but free of cost, at least. Unfortunately, Veridian does not participate in shared branching.
Jen
Jen   |     |   Comment #11
Link to join Dwolla doesn't work anymore.
If you click on "Join" when on the credit union's website and then start the application, you will come to a place where supposedly you can click and register for Dwolla. However, they have disabled that link to Dwolla.
CANDYGRAM 4 TRUMP
CANDYGRAM 4 TRUMP   |     |   Comment #12
these people are hot for cash,,,,,,,,,,they are expanding with brick and mortar,,,,,,,,they are hot for your money,,,,,,with deeeeeeeeelllllllzzzzzz,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,why?
#13 - This comment has been removed for violating our comment policy.
Needing Clarity
Needing Clarity   |     |   Comment #14
Today their site is showing that Dwolla will discontinue personal transfers on or after December 3rd. If an individual signs up with Dwolla now but makes no actual deposits before that date, will the nre membership of Dwolla still provide eligibility for Veridian membership (and for a later deposit of funds directly to Veridian)?
#15 - This comment has been removed for violating our comment policy.
moneysaver
moneysaver   |     |   Comment #16
I was more concerned by what I read when I went to the Dwolla personal account signup page, regarding the status of deposits and not necessarily being covered by NCUA deposit insurance. But I'm not sure exactly what kind of deposits/accounts the following language refers to, Dwolla or Veridian?:

https://www.dwolla.com/register/customers?account=812-285-6793

"Dwolla, Inc. is an agent of Veridian Credit Union and all funds associated with your account in our network are held in one or more pooled accounts at Veridian Credit Union. These funds may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union."

I wish I could translate just what exactly the preceding paragraph is supposed to mean!
Veridian Credit Union Ups 18- and 41-Month Bump CD Rates
Deal Summary: Bump-Up Jumbo CDs ($100k min) – 18-month (2.85% APY) and 41-month (3.35% APY). Bump-Up CD ($1k min) – 18-month (2.75% APY) and 41-month (3.25% APY).

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

In August, Veridian Credit Union (Veridian) began offering limited-time rates on its 18- and 41-month Bump-Up CDs. Bad news – those tiered APYs are no longer available. Very good news – Veridian has raised the rates on both Bump CDs, with the 18-month...

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Veridian Credit Union Adds 41-Month Bump-Up Jumbo CD
Deal Summary: 41-month Bump-Up Jumbo CD, 3.25% APY, $100k minimum deposit. 41-month Bump-Up CD, 3.15% APY, $1k minimum deposit.

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

For a limited time, Veridian Credit Union (Veridian) is offering a 41-month Bump-Up CD with tiered APYs – 3.25% (Jumbo) and 3.15% (non-Jumbo). The Bump-Up Jumbo CD requires a minimum $100k deposit, with the Bump-Up CD calling for a $1k minimum opening deposit.

As stated on the CD Rates page,

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Veridian Credit Union Debuts 36-Month Jumbo CD Special
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...

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Veridian CU Adds Nationally Available 18-Month CD Special
Deal Summary: 18-month Jumbo CD Special, 2.28% APY, $100k minimum; 18-month CD Special, 2.18% APY, $1k minimum.

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

In the past few years, Veridian Credit Union (Veridian) has been offering competitive short- and long-term CD Specials on a regular basis. The latest offering is an 18-month Jumbo CD Special (2.28% APY) and 18-month CD Special (2.18% APY). The minimum deposit for a Jumbo CD Special is $100k, with a regular...

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New Nationally Available CD Specials At Veridian Credit Union
Deal Summary: CD Specials - 25-month (1.91% APY), 39-month (2.07% APY), $1k minimum deposit. Jumbo CD Specials - 25-month (2.02% APY), 39-month (2.17% APY), $100k minimum deposit.

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

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....

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