Veridian FCU Nationwide Qualification Going Away Soon?

racecar | Oct 16, 2018 | 628 posts since 2014

Currently, the only way one can qualify to join Veridian FCU if one doesn't live in their geographic area (Iowa or certain parts of Nebraska), is to have a Dwolla membership (open to all across the US). However it seems that the consumer part of Dwolla (where anyone could sign up for an account) will be closing up shop soon.

I received an email stating that Dwolla's "Transfer" product (the consumer end of Dwolla) will cease on Dec 3, 2018 -- and reminded people that they had 45 days to move their money out of their Dwolla accounts.

I don't know if Dwolla is still accepting new applications for memberships or not, but from how I understand it, it seems that the consumer end of Dwolla will cease on Dec 3rd, 2018.

I have no idea if Veridian will allow another way for people not living in their geographic area (or who work for their SEGs) to qualify, but figured I'd post this to let people know. They're a pretty good CU.

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racecar | Oct 16, 2018 | 628 posts since 2014

PS: it seems Dwolla for businesses is continuing, but Transfer (for consumers) is not.
Here's a website page explaining it: https://www.dwolla.com/updates/sunsetting-a-legacy/

For businesses:
"In late 2017, we recommitted to our mission and bolstered the Dwolla Platform, a white label API which seamlessly integrates with businesses, giving them and their users a fast, affordable and secure, largely unbranded, connection to the ACH Network"

For individuals:
"Unfortunately, this commitment to our platform means that Transfer—which allowed individuals to pay each other through an app or our website—is going to be discontinued.
We understand that there are a number of people who still use Transfer and that this will be inconvenient. However, to ease to trouble of Transfer going away, we are discontinuing that service in stages.
Starting October 2018, we will no longer accept new Transfer accounts.
In December 2018, the ability to send or receive payments will be removed entirely and Transfer will be permanently retired."

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mebarnes | Oct 18, 2018 | 1 posts since 2010

I joined Dwolla to get a Veridian CD, which I did. Dwolla is going away before my CD matures. Does that mean my membership in Veridian FCU is in danger, or is it once you're in, you're in, no matter if the organization through which you gained membership ceases operations? I have the same question about my Sharonview CD: I joined Sharonview by signing up for membership in Hobby Farmers. Hobby Farmers annual $20 membership dues is coming up soon, but my CD maturity is 4+ years in the future. Do I need to keep paying $20 a year to Hobby Farmer membership in order to continue with Sharonview and my CD?

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Ricochet | Oct 18, 2018 | 522 posts since 2010

You most likely have no worries about Veridian membership .CALL them?
Forget about Hobby Farmers.
And dues unless you want to keep in touch with the garden club activities , but they won't stop you from reading their blog anyway.

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racecar | Oct 18, 2018 | 628 posts since 2014

As with any credit union, once a member, always a member (unless you decide on your own to close out your accounts). Nothing to worry about at either CU.

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