Veridian Credit Union

Organization Overview

Veridian Credit Union is located in Waterloo, IA. The organization was established in 2007. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2019, Veridian Credit Union employed 1,021 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veridian Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2019, Veridian Credit Union generated $232.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $179.9m during the year ending 12/2019. While expenses have increased by 12.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Veridian Credit Union has awarded 63 individual grants totaling $1,267,288. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE A VARIETY OF LOW OR NO COST SERVICES, LOW LOAN RATES, AND HIGHER SAVINGS RATES TO OUR MEMBERS, AND TO FULFILL OUR PHILOSOPHY OF "PEOPLE HELPING PEOPLE" BY PARTNERING WITH OUR MEMBERS TO CREATE SUCCESSFUL FINANCIAL FUTURES. OUR CURRENT FIELD OF MEMBERSHIP IS THE STATE OF IOWA, AS WELL AS 6 COUNTIES IN EASTERN NEBRASKA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

VERIDIAN CREDIT UNION SERVED APPROXIMATELY 240,554 MEMBERS AT OUR CONVENIENT BRANCH LOCATIONS. VERIDIAN CREDIT UNION ADDED 33,674 NEW MEMBERSHIPS IN 2019. TOTAL LOANS AND DEPOSITS AT 12/31/2019 WERE 3,957,609,565 AND 3,665,762,518 RESPECTIVELY.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fiserv Inc
Data Processing
$4,171,120
Alkami Technology Inc
Data Processing
$2,354,029
Flynn Wright
Advertising Agency
$2,228,914
Lanvera Ltd
Document Outsourcing
$2,079,137
The Redmond Company
Design Services
$1,201,694
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$194,510,322
Investment income $1,422,275
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $61,608
Net Gain/Loss on Asset Sales $934,113
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $232,895,621

Grants Awarded

Over the last fiscal year, Veridian Credit Union has awarded $380,300 in support to 27 organizations.

Grant RecipientAmount

COMMUNITY FOUNDATION OF NORTHEAST IOWA

Org PageRecipient Profile

Cedar Falls, IA

PURPOSE: GRANTS

$70,000

OPERATION THRESHOLD

Org PageRecipient Profile

Waterloo, IA

PURPOSE: INDVIDUAL DEV. ACCT. MONEY MOVES PROGRAM

$66,000

CEDAR VALLEY UNITED WAY

Org PageRecipient Profile

Waterloo, IA

PURPOSE: GENERAL SUPPORT

$29,000

UNITED WAY OF CENTRAL IOWA

Org PageRecipient Profile

Des Moines, IA

PURPOSE: GENERAL SUPPORT

$29,000

GREATER CEDAR VALLEY ALLIANCE

Org PageRecipient Profile

Waterloo, IA

PURPOSE: GENERAL SUPPORT

$27,500

Waterloo, IA

PURPOSE: GENERAL SUPPORT

$15,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Veridian Credit Union has recieved totaling $0.

Awarding OrganizationAmount
Cedar Valley United Way

Waterloo, IA

PURPOSE: GRANT FOR SPECIFIC PROGRAM SUPPORT.

$0
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
Alliant Credit Union
Chicago, IL
$514,950,827
Citizens Equity First Credit Union
Peoria, IL
$281,570,051
Baxter Credit Union
Vernon Hills, IL
$268,990,676
University Of Iowa Community Credit Union
North Liberty, IA
$263,650,226
Veridian Credit Union
Waterloo, IA
$232,895,621
Ih Mississippi Valley Credit Union
Moline, IL
$95,764,953
Consumers Cooperative Credit Union
Gurnee, IL
$86,644,006
Scott Credit Union
Edwardsville, IL
$68,652,150
Central Minnesota Credit Union
Melrose, MN
$66,228,219
Credit Union 1
Rantoul, IL
$59,629,366
Great Lakes Credit Union
Bannockburn, IL
$47,845,545
Deere Employees Credit Union
Moline, IL
$51,717,341

Create an account to unlock the data you need.

or