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National Credit Union Service Organization

VERIDIAN CREDIT UNION

Dec, 31, 2023 — VERIDIAN CREDIT UNION is a federally insured state chartered credit union headquartered in WATERLOO, IA with 34 branch locations and about $7.45 billion in total assets. Opened 90 years ago in 1934, VERIDIAN CREDIT UNION has about 332,784 members and employs 1,012 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 273976369
Name:VERIDIAN CREDIT UNION
Address:
(Main Office)
1827 Ansborough Ave
WATERLOO, IA 50701
Phone:(319) 236-5600
Fax:(319) 236-5668
Website:https://veridiancu.org
Branches:34 branch locations
Members:332,784
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:64418
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1934
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$7,448,974,265
CEO/Manager:Renee Christoffer
Chairperson:Cynthia Ruma Buettner

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 510,479,679
TOTAL INVESTMENTS 0
Loans Held for Sale 7,571,645
 
 Real Estate Loans 2,782,828,284
 Unsecured Loans 312,928,148
 Other Loans 3,214,952,653
 TOTAL LOANS 6,311,349,649
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -74,753,562
 Land And Building 73,376,986
 Other Fixed Assets 15,161,334
 NCUSIF Deposit 50,574,945
 All Other Assets 686,209
  TOTAL ASSETS 7,448,974,265
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 410,329,535
 Accounts Payable & Other Liabilities 108,797,480
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,162,335,357
 Regular shares 1,169,777,175
 All Other Shares & Deposits 3,848,305,733
  TOTAL SHARES & DEPOSITS 6,180,418,267
  TOTAL LIABILITIES 6,699,545,282
 Regular Reserve 0
 Other Reserves 248,973,312
 Undivided Earnings 500,455,671
  TOTAL EQUITY 749,428,983
  TOTAL LIABILITIES, SHARES, & EQUITY 7,448,974,265
INCOME & EXPENSE  
 Loan Income 298,523,573
 Investment Income 21,987,181
 Other Income 21,412,252
 Total Employee Compensation & Benefits 88,959,760
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 69,669,745
 Non-operating Income & (Expense) 166,616
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 28,432,333
 Cost of Funds 139,535,836
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 84,977,658
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