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Veridian Credit Union

Veridian Credit Union (IA) Introduces A Series Of Attractive CD Specials

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Veridian Credit Union (Iowa) has recently introduced a series of five CD Specials:

  • 7-month CD Special (0.35% APY)
  • 9-month CD Special (0.85% APY)
  • 15-month CD Special (1.11% APY)
  • 25-month CD Special (1.35% APY)
  • 39-month CD Special (1.60% APY)

Each of the CD Specials requires a minimum $1K deposit to open and there is no maximum balance cap.

All five CD Specials are also offered as Jumbo CD Specials, with interest rates 15 basis points higher than their regular CD Special counter part. These Jumbo CD Specials can be opened with a $100K minimum deposit and have no maximum balance cap.

According to CSR, the Early Withdrawal Penalty is based on the CD term length: the penalty for a CD 12 months or less in length, is equal to 90 days interest; the penalty for a CD greater than12 months in length is 180 days interest.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.25%$1k-Veridian Credit Union39 Month Special CD
1.70%$1k-Veridian Credit Union25 Month Special CD
1.11%$1k-Veridian Credit Union15 Month Special CD
0.85%$1k-Veridian Credit Union9 Month Special CD
0.50%$1k-Veridian Credit Union7 Month Special CD
Accounts mentioned in this post. Rates as of May 3, 2016.

Availability

Membership in Veridian Credit Union (Iowa’s largest credit union) is based mainly on residency. Individuals who live in 40 of Iowa’s 99 counties, and five Nebraska counties that abut on the Iowa southwest border (Cass, Douglas, Sarpy, Saunders, and Washington) are eligible for membership. For complete details, please refer to Veridian Credit Union’s "Who Can Join" page.

Any residents of Iowa with disabilities, as defined by the "Americans with Disabilities Act of 1990," are also eligible for membership, regardless of the county in which they reside.

Joining Veridian Credit Union can be done online, but opening a CD requires an in-person visit to any of the 26 Iowa branches located in Ankeny, Cedar Falls, Cedar Rapids, Des Moines, Independence, Iowa City, Johnston, Marion, Oelwein, Waterloo, Waverly, and West Des Moines.

Veridian Credit Union's Membership Policy states,

"Once a member, always a member." This means you may maintain the full privileges of membership should you leave or retire from the company or association that offers you membership - even if you move to another area or state.

Credit Union Overview

Veridian Credit Union has an overall health grade of A at DepositAccounts.com, with a Texas ratio of 5.88% (excellent) based on March 31, 2014 data. In the past year, Veridian Credit Union increased its total deposits by $22.02 Million. Please refer to our financial overview of Veridian Credit Union for more details.

Veridian Credit Union was originally chartered in 1934 as the John Deere Employees Credit Union (NCUA Charter # 64418) and headquartered in Waterloo. 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, and 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 name "Veridian" coming from the Latin words for truth (veritas) and growing (verdant).

How The CDs Compare

Not all of Veridian Credit Union’s five CD Specials are really that "special." I have compared those CDs which merit consideration, to top performing CDs tracked by DepositAccounts.com that have a similar length-of-term, similar minimum deposit requirement, and are available to Iowa residents.

Interest Rate CD Length Institution
0.90% APY 9-month CD Triumph Savings Bank
0.90% APY 9-month CD Quorum Federal Credit Union
0.85% APY 9-month CD Special Veridian Credit Union

Interest Rate CD Length Institution
1.26% APY 15-month eCertificate Aspire Federal Credit Union
1.15% APY 15-month Special CD Cedar Falls Community Credit Union
1.11% APY 15-month CD Special Veridian Credit Union

Interest Rate CD Length Institution
1.50% APY 25-month CD Quorum Federal Credit Union
1.35% APY 25-month Special CD Veridian Credit Union
1.30% APY 24-month CD Special Triumph Savings Bank

Interest Rate CD Length Institution
1.71% APY 35-month CD Special USAlliance Credit Union
1.65% APY 37-month Special CD Cedar Falls Community Credit Union
1.60% APY 39-month CD Special Veridian Credit Union

These rates are accurate as of 8/29/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.


Related Pages: Veridian Credit Union, Cedar Rapids, Des Moines

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Comments
Hoody
Hoody   |     |   Comment #1
real strange how words like "competitive" and "attractive" are used for stuff 2% or less...

I guess its the sign of the times after this insanity has gone on this long.

Hope those of you with 5 and 6 %ers coming due are prepared mentaly, smirks.......
Anonymous
Anonymous   |     |   Comment #2
What is competitive is timing...stay on the sidelines is not an option
Hoody
Hoody   |     |   Comment #3
I know all aout that, I did open 4,  3.1% NFCU CD's when they were available, was that the smartest thing to do, who knows,  but its  the best deal that was going then, and looks like even now, I've already made my decision to eat the EWP when or if rates go spastic and shoot past 4% on 5 yr money again.
Anonymous
Anonymous   |     |   Comment #4
Excellent!  I've concluded that FDIC/NCUA, et al are "encouraging" the increasing EWPs to dampen the effect of higher interest rates down the road when depositors will want to move money around and thus lessen the impact of withdrawals and viability of those regulated institutions.  Thus their "sanction" of retroactive increasing EWP type language!