Auto Loan Resource Center

There must be enough money in the account you choose to have the payment withdrawn from before the transaction will process successfully. Ways to pay:

• Make your payment by transferring money from a Veridian or external account in Online Banking or our mobile app. You can even set up recurring transfers to pay your bill automatically each month. Learn how.
• Set up preauthorized monthly payments from an account at another financial institution with ACH debit payment.
• Make a one-time payment from another financial institution or credit card* using Veridian’s online payment center. You will be charged a $10 fee and it will take up to three business days for the payment to be credited to your loan. This service cannot be used to pay balances on Veridian credit cards.
• Stop into a branch or contact us.

*Does not include Visa credit cards. Cards that are available for payments include: Visa debit card, Mastercard credit and debit cards, and Discover cards.

Delay your next loan payment by simply completing our online form or use the Delay-a-Pay option in online banking. It costs $30 each time you use it, and can be used for vehicle loans, recreational vehicle loans, consumer goods loans, personal unsecured loans, and share-secured loans. Read more about the additional eligibility limitations that may apply.

The money in this payment is applied directly to the principal of your loan. There isn’t interest included in the payment and your usual due date won’t change. You must be current on your loan and make your first minimum payment on time before considering a principal-only payment.

No. Veridian doesn’t charge a penalty to pay off consumer loans ahead of schedule.

Veridian’s Loyalty Program gives you special discounts and other perks when you meet these qualifications:

• Enrolled in eDocs through online banking or our mobile app.
• Maintain direct deposit of net income to Veridian or, if unavailable, a minimum of 10 qualifying checking account transactions* per month.
  
  *Qualifying transactions include debit card purchases, electronic funds transfers (EFT), ATM transactions, automatic payments and checks drawn on your account. Transactions made at a branch don’t qualify.

Auto, home equity and most personal loans are eligible for a 0.25% APR discount, while Payday Alternative Loans, first mortgages and Visa® credit cards are not.

Visa Signature® cardholders will earn 2% cash back on purchases when the Loyalty Program qualifications are met.

Payment Protection is a voluntary debt protection program that steps in when you and your family need help the most. Packages are available for most consumer loans except a credit card. Learn more.

Veridian requires you to submit proof of insurance for any vehicle that has a loan with us. Within 56 days of your loan signing, you must provide your documentation at myinsuranceinfo.com. You’ll need the reference ID that was sent to you or you can answer some information to locate your account.

Your insurance policy needs to include:

• Loss payee: Veridian Credit Union, P.O. Box 2327, Sioux City, IA 51106. Control #8162
• Comprehensive and collision coverage on vehicle with deductibles not to exceed $1,000.
• Collateral must match collateral on loan document.
• Policy number, policy period and company name must be listed.

If you don’t submit the above information within 56 days of your loan signing, we’ll insure the vehicle ourselves and add the cost to your loan, extending the term. Please note, this will only cover the vehicle and does not include personal coverage.

Upon attaining an auto loan from Veridian, you have 30 days to provide Veridian the title. Please follow these procedures:

• Private Party Purchase – If you purchased your vehicle from a private party, contact the county courthouse or your local Department of Motor Vehicles. Veridian Credit Union must be listed as a lien holder with the address of Veridian Credit Union, P.O. Box 6000, Waterloo, IA 50704-6000.
• Refinance – If the previous financial doesn’t send the title to Veridian within 30 days, you must contact them to locate the title and have it sent to Veridian. You must also inform your insurance company that the loan has been transferred and to list Veridian as the Loss Payee.
• Dealer Purchase – If you purchased your vehicle from a dealership, they may transfer the title on your behalf. Inform them that you have a loan with Veridian. If the dealership does not transfer the title on your behalf, you must follow the private party purchase process described above.

If you qualified for a cash-back rebate, your cash back will be deposited into a Veridian savings account on the third business day of the fourth month after your loan was booked. Your auto loan must be held by Veridian, all Veridian loans must be paid current, and other Veridian accounts must not be overdrawn for the money to be deposited.

GAP, or Guaranteed Asset Protection, is a supplement to your primary auto insurance. If you’re purchasing a vehicle with less than a 20% down-payment, or trading in a vehicle for less than you owe, GAP coverage may be right for you. You can add GAP coverage to a loan within 60 days of booking and cancel at any time.

You can be protected against major mechanical expenses anywhere in the U.S., and there is no deductible on covered parts or labor. Plans also include Rental Car Allowance and 24/7 Emergency Road-side Service.