If you read the news, you've undoubtedly heard the recent negative press involving the banking
industry. Let us reassure you, Veridian Credit Union remains financially secure.
The sub-prime mortgage situation that has caused many financial institutions to absorb large losses has not
impacted Veridian. We do not originate sub-prime loans or invest in securities backed by sub-prime mortgages. The
additional risk of these loans and investments does not fit with our vision of maintaining unquestionable financial
security.
Every penny you have at Veridian is insured, to at least $250,000, through the NCUA (National Credit Union Administration), a U.S. government agency.
"The nearly one million credit union member accounts in Iowa and 90 million nationwide are just as safe and sound as those at FDIC-insured institutions," said Pat Jury, Iowa Credit Union League President/CEO. "Not one penny of insured savings has ever been lost by a member of a federally insured credit union."
A complete listing of Veridian's annual statement of financial condition can be found in our annual report. Still have questions? Check out our list of frequently asked questions.
