Veridian Credit Union
Strong reserves Growing revenue
Veridian Credit Union is a 501(c)(14) organization based in Waterloo, Iowa, registered in 2007, with $459,755,519 in FY2024 revenue.
1827 Ansborough Ave, Waterloo, IA, 50701 EIN 42-1132695 Since 2007
Revenue (FY2024)
$459.8M
▲ 16.8% vs prior year
Public Benefit median: $140K
Expenses (FY2024)
$366.4M
Net assets
$857.8M
Employees
1,284
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Veridian Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating28 mo reserves · +20% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Veridian Credit Union: 28 mo reserves · +20% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Veridian Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Veridian Credit Union: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
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, 6 counties in eastern nebraska, and 8 counties around the minneapolis-st paul metro in minnesota.
Contact & location
- Address
- 1827 Ansborough Ave, Waterloo, IA, 50701
- City
- Waterloo
- State
- Iowa
- Category
- Public & Societal Benefit
- Subcategory
- Financial Institutions
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $112.1M (FY2013) to $459.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $7.1BNet assets $857.8M
Operating margin
20.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$8.0B
Total liabilities
$7.1B
Net assets
$857.8M
Salaries & benefits
$92.4M
25% of expenses
Board members
13
13 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $459,755,519▲16.8% | $366,394,437▲14.3% | $857,787,771▲14.6% | $7,964,809,440▲6.9% | 990 |
| 2023 | $393,776,056▲27.7% | $320,519,571▲53.6% | $748,274,956▲7.1% | $7,452,103,478▲8.0% | 990 |
| 2022 | $308,336,218▲8.2% | $208,710,140▲25.8% | $698,685,810▲10.6% | $6,898,328,206▲17.7% | 990 |
| 2021 | $284,905,474▲13.7% | $165,949,826▼9.8% | $631,888,360▲22.4% | $5,861,265,762▲14.3% | 990 |
| 2020 | $250,686,437▲7.6% | $183,953,952▲2.2% | $516,427,427▲14.8% | $5,127,625,899▲17.9% | 990 |
| 2019 | $232,895,621▲15.6% | $179,934,722▲19.2% | $449,979,590▲13.4% | $4,348,513,312▲5.0% | 990 |
| 2018 | $201,526,798▲24.5% | $150,898,268▲21.3% | $396,690,821▲15.1% | $4,142,827,269▲16.5% | 990 |
| 2017 | $161,883,877▲19.7% | $124,385,568▲6.8% | $344,545,117▲11.7% | $3,556,595,295▲14.7% | 990 |
| 2016 | $135,221,556▲5.9% | $116,437,755▲16.1% | $308,407,317▲7.0% | $3,100,933,825▲5.0% | 990 |
| 2015 | $127,680,747▲6.4% | $100,279,754▲5.1% | $288,329,379▲6.9% | $2,952,155,107▲11.8% | 990 |
| 2014 | $120,038,158▲7.1% | $95,396,759▲6.1% | $269,786,224▲10.4% | $2,641,081,164▲8.5% | 990 |
| 2013 | $112,096,375 | $89,882,155▲4.1% | $244,438,032▲6.8% | $2,433,904,499▲3.6% | 990 |
| 2012 | — | $86,359,045▼0.2% | $228,793,588▲30.4% | $2,350,002,400▲31.7% | 990 |
| 2010 | — | $86,574,165 | $175,456,368 | $1,783,758,774 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Renee Christoffer — $1,206,516 (0.33% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Renee Christoffer | President/ceo | 50 | $1,206,516 |
| Douglas Gilbertson | Former Chief Operations Officer | 0 | $563,602 |
| Keith Mesch | Chief Financial Officer | 50 | $535,227 |
| Brett Engstrom | Chief Information Officer | 50 | $405,967 |
| Mark Koppedryer | Chief Experience Officer | 50 | $383,968 |
| Kara Vanwert | Chief Lending Officer | 50 | $374,342 |
| Shawna Matz | Chief People Officer | 50 | $373,685 |
| Gregory Slessor | Senior Vp of Legal | 50 | $367,523 |
| Emily L Kuntz | Vp - Controller | 50 | $266,451 |
| Christi Hulme | Vp of Member Contact Center | 50 | $250,036 |
| Steven Lindaman | Vp of Commercial and Mortgage | 50 | $247,201 |
| Molly Schmidt | Vp of Information Technology | 50 | $224,450 |
| Justine Teut | Board of Director | 6 | $24,356 |
| Aubrey Ward | Board of Director | 6 | $4,534 |
| Traci Mcbee | Chairperson Elect | 6 | $2,468 |
| Will Montgomery | Board of Director | 6 | $2,110 |
| William Boevers | Secretary | 6 | $1,885 |
| Larry Loss | Board of Director | 6 | $1,721 |
| Cindy Sprole | Board of Director | 6 | $798 |
| Stephanie Atkin | Chairperson | 6 | $782 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Fiserv Inc | Data Processing | $5,122,361 |
| Lanvera Ltd | Document Outsourcing | $3,793,073 |
| Alkami Technology Inc | Data Processing | $3,477,742 |
| Flynn Wright | Advertising Agency | $3,049,958 |
| Primus | Office Construction | $2,302,047 |
Grants made · $752K in FY2024
39 grants totaling $752K in FY2024 — showing the 15 largest. All grants made by Veridian Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Iowa Credit Union League | Member engagement | $100,421 |
| Operation Threshold Inc | Ida funding | $100,000 |
| Community Foundation of Northeast Iowa | Grants and one cedar valley fund | $90,000 |
| Grow Cedar Valley | Economic development | $37,500 |
| United Way of Central Iowa | General support | $37,000 |
| Cedar Valley United Way | General support | $32,000 |
| Heartland Hope Mission | Capital campaign | $25,000 |
| Greater Des Moines Botanical Garden | Capital campaign | $25,000 |
| Christian Community Development | Capital campaign | $20,000 |
| Anawim Housing | Veridian gives back donation | $15,000 |
| Papillion Lavista Schools Foundation | Financial literacy | $15,000 |
| United Way of the Midlands | Disaster relief fund | $15,000 |
| Anawim Housing | Capital campaign | $14,500 |
| Habitat For Humanity International Inc | Housing support - women's build/blueprints | $14,000 |
| United Way of the Midlands | General support | $13,500 |
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Compare Veridian Credit Union
Frequently asked questions
- Is Veridian Credit Union a legitimate nonprofit?
- Yes. Veridian Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 42-1132695, based in Waterloo, Iowa.
- What is Veridian Credit Union's EIN?
- Veridian Credit Union's Employer Identification Number (EIN) is 42-1132695.
- How much revenue does Veridian Credit Union report?
- Veridian Credit Union reported $459,755,519 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Veridian Credit Union's highest-paid employee make?
- The highest reported compensation on Veridian Credit Union's latest Form 990 is $1,206,516, paid to Renee Christoffer (President/ceo).
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Data for Veridian Credit Union (EIN 42-1132695) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.