Veridian Credit Union

Veridian Credit Union is a credit union in the state of Iowa, USA, with assets over 2.76 billion USD and a member base of over 190,000.[3] In December 2014, Veridian was the largest credit union in Iowa and the 59th largest credit union in the United States.[4]

Veridian Credit Union

Formerly	John Deere Employees Credit Union
Founded	1934 in Waterloo, Iowa, United States
Number of locations	31 branches (2020)[1]
Area served	Waterloo/Cedar Falls, Cedar Rapids, Iowa City, Des Moines, & Omaha metropolitan areas and their surrounding communities.
Net income	US$50,629,531 (2018)[2] US$37,498,308 (2017)[2]
Total assets	US$4,145,450,853(2018)[2] US$3,558,123,101 (2017)[2]
Website	www.veridiancu.org

Its field of membership consists of:

• Those who are living in or are working for a business located in any county in Iowa or in Cass, Douglas, Lancaster County, Sarpy, Saunders, Washington counties in Nebraska.[5][6]
• Family members of an eligible individual.[5][7]
• Individuals with disabilities as defined by the Americans with Disabilities Act of 1990 who are living in the State of Iowa.[5]
• Registered users of Dwolla.[5]

Veridian was started in 1934 as John Deere Employees Credit Union in Waterloo, Iowa.[8][9] In 1984, it became the John Deere Community Credit Union of Waterloo when the local community were allowed to join.[8][9] In 1986, nearby residents in Cedar Falls also became eligible and it became the John Deere Community Credit Union.[8][9]

In 2004, Deere & Company asked the credit union not to use "John Deere" in its name to avoid trademark and company confusion because it was no longer affiliated with the company.[8][9] Members voted to approve changing the name to Veridian Credit Union on August 21, 2005,[10] with official use beginning in January 2006.[8][9] Its name is derived from the words "verdant" meaning green and growing, and "veritas" which is Latin for truth.[11]

As of the end of 2018, its current CEO and president is Monte Berg.[12][2]

References

1. "Locations". Retrieved 2020-04-20.
2. "Veridian Credit Union 2018 Annual Report" (PDF). Archived (PDF) from the original on 2020-04-20. Retrieved 2020-04-20.
3. "Credit Union Details". mapping.ncua.gov. National Credit Union Administration. Retrieved 2015-12-06.
4. Epley, Cole (23 December 2014). "Largest Iowa credit union plans Council Bluffs branch in 2015". Omaha World-Herald. Retrieved 2015-12-06.
5. "Become a Member – Membership Requirements". Veridian Credit Union. Retrieved 2020-04-20.
6. "Who can become a Veridian member?". Veridian Credit Union. Retrieved 2020-04-20.
7. "How does Veridian define "family members"?". Veridian Credit Union. Retrieved 2020-04-20.
8. Balaban, RC (20 July 2005). "John Deere Community Credit Union to become Veridian". Waterloo Cedar Falls Courier. Retrieved 2015-12-06.
9. "What is Veridian's history?". Archived from the original on 2020-04-20. Retrieved 2020-04-20.
10. Trainor, Jean (September 2005). "New Name Approved" (PDF). Community Advisor. Archived from the original (PDF) on 2005-09-22.CS1 maint: date and year (link)
11. DeWitt, Jennifer (21 July 2005). "Credit union will shed Deere name". The Quad-City Times. Retrieved 2015-12-06.
12. "Veridian Credit Union: Private Company Information". Bloomberg Businessweek. Retrieved 2015-12-06.