Veridian Credit Union

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Veridian Credit Union
Formerly called
John Deere Employees Credit Union
Website www.veridiancu.org

Veridian Credit Union is a credit union in Iowa, with assets over 2.76 billion USD and a member base of over 190,000.[1] As of December 2014, Veridian is the largest credit union in the state of Iowa and the 59th largest credit union in the United States.[2]

Veridian was started in 1934 as John Deere Employees Credit Union in Waterloo, Iowa.[3] In 1984, it became the John Deere Community Credit Union of Waterloo when the local community were allowed to join.[3] In 1986, nearby residents in Cedar Falls also became eligible and it became the John Deere Community Credit Union.[3]

In 2004 Deere & Company asked the credit union not to use "John Deere" in their name to avoid trademark and company confusion because it was no longer affiliated with the company.[3] This led to it to begin using its current name starting January 2006.[3] Its name is derived from the words "verdant" meaning green and growing, and "veritas" which is Latin for truth.[4]

Its current CEO and President is Monte Berg.[5]

References[edit]

  1. ^ "Credit Union Details". mapping.ncua.gov. National Credit Union Administration. Retrieved 2015-12-06. 
  2. ^ Epley, Cole (23 December 2014). "Largest Iowa credit union plans Council Bluffs branch in 2015". Omaha.com. Omaha World-Herald. Retrieved 2015-12-06. 
  3. ^ a b c d e Balaban, RC (20 July 2005). "John Deere Community Credit Union to become Veridian". Waterloo Cedar Falls Courier. Retrieved 2015-12-06. 
  4. ^ DeWitt, Jennifer (21 July 2005). "Credit union will shed Deere name  : Business". The Quad-City Times. Retrieved 2015-12-06. 
  5. ^ "Veridian Credit Union: Private Company Information - Businessweek". Businessweek.com. Bloomberg Businessweek. Retrieved 2015-12-06.