Veridian Credit Union

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Veridian Credit Union is a credit union in Iowa, with assets over US$1.4 billion and a member base of over 145,000[1] Veridian is the largest credit union in the state of Iowa and among the largest credit unions in the nation.[citation needed] Veridian offers a range of products, including credit cards, checking accounts, savings accounts, and loans.

History[edit]

Veridian began in 1934 as John Deere Employees Credit Union with their office located in Waterloo, Iowa. It began with just a few John Deere employees who were looking for alternative financial options to what commercial banks had to offer.[2][3]

By 1984, credit union membership was available to all those in the outlying community and the name was changed to John Deere Community Credit Union of Waterloo. Their field of membership continued to grow. By 1986 membership opened up to the neighboring community of Cedar Falls, which again called for a change in the name and lead them to drop the "Of Waterloo" and leave it as John Deere Community Credit Union.[4]

In 2004 Deere & Company asked the credit union not to use "John Deere" in their name to avoid trademark and company confusion. This led to yet another name change in 2006 to the current name Veridian Credit Union. The name "Veridian" is derived from the words "verdant" meaning green and growing, and "veritas" which is Latin for truth.[5][6]

The credit union funds some financial literacy programs.[7]

Funds passed through Dwolla spend time in a Veridian bank account.

References[edit]

  1. ^ Credit Union Access "Local Credit Unions" http://creditunionaccess.com/cu64418.htm retrieved on 2008-09-17
  2. ^ Credit Union Access "Local Credit Unions" http://creditunionaccess.com/cu64418.htm retrieved on 2008-09-17
  3. ^ Veridian Credit Union "About Us - History" http://www.veridiancu.org/about_us/cu_history.asp retrieved on 2008-09-17
  4. ^ Veridian Credit Union "About Us - History" http://www.veridiancu.org/about_us/cu_history.asp retrieved on 2008-09-17
  5. ^ Veridian Credit Union "About Us - History" [1] retrieved on 2008-09-17
  6. ^ Balaban, RC (22 Sep 2005). "Iowa credit union changes its name.". Waterloo Courier (Waterloo, Iowa) (via Knight-Ridder/Tribune Business News). Retrieved 2008-09-18. 
  7. ^ "Veridian CU Funds $35K In Financial Lit. Programs.(Veridian credit union)". Credit Union Journal. 3 SEP 2007. Retrieved 2008-09-18. 

External links[edit]