Veridian is a bank and credit union founded based out of Waterloo, Iowa. Founded in 1934, Veridian originally had the name John Deere Employees Credit Union and changed its name in 2006. Veridian currently has over 36 branches all over Iowa and neighboring states. Aside from their CD offerings, Veridian offers a number of traditional bank products including checking accounts, savings accounts, loans, IRAs, and more. 

Before you can have any kind of account with Veridian, you must first qualify as a member. In order to be a member, you must live within one of the company’s 105 “field of membership” counties. Relatives of current members can also join and create an account. 

Veridian offers a wide range of CD rates, ranging from 7 months at 0.40% to 60 months at 1.20%. Veridian also offers separate tiers of the same CD rates, each of which have the same maturation target date but have different rates, APYs, and minimum balances. 

The simplest add-on CD you can purchase is 12 months with a 0.35% APY. This CD has a minimum deposit of $500. There is also a higher tier CD of the same rank that has a 0.50% rate. 

Veridian also offers several special CD rates, starting with its 7-month certificate that offers  a 0.40% rate with a $1,000 minimum balance. These special CDs also have jumbo versions that have better interest rates but higher minimum balances. The minimum balance for most jumbo CDs is $100,000.

Must be a member to open an account. Public funds and financial institutions are not eligible for these rates. Restrictions apply.

Unlike many other banks that make you keep your money and let it grow without touching it, Veridian allows you to put more into your CD, according to a rate approved by Veridian. As is always the case, Veridian will charge an early withdrawal fee. The fee depends on how much you withdraw, how long your initial maturation date timeline is, and how long into the original agreement you are. 

Again, you have to apply to be a member first before you can open a CD, and then you can open an add-on CD. 

Veridian also offers a bump-up certificate and a jumbo bump-up certificate. These special certificates allow you to increase your interest rate once during the period. They offer a wide selection of bump up certificates starting at 18 months at 0.85% all the way up to 41 months at 1.10%. Bump up certificates have a minimum deposit of $1,000 and a minimum deposit of $100,000 for jumbo CDs.

Bump up certificates also incur an early withdrawal penalty. This penalty is also based on the original length of your term, how far into the term you currently are, and how much you withdraw. 

Overall, Veridian offers great CD rates and a wide range of flexible CD options. The bump up and jumbo special certificates are a good option for customers with a lot of cash on hand and regular CD accounts can be started with as little as $500.