Veridian Credit Union offering interest-free loans to members who are John Deere employees on strike
CEDAR RAPIDS, Iowa (KCRG) - Veridian Credit Union is offering interest-free Financial Hardship Loans to current members that are John Deere employees on strike. The loans are designed to ease the financial burden caused by income loss as a result of the current labor strike.
Amounts of up to $1000 are available with up to 12-month terms. The first payment date is delayed to 90 days from signing.
“Veridian was founded by John Deere employees who wanted to offer their coworkers an alternative to commercial banks and other for-profit financial institutions in 1934,” said Veridian President and CEO Renee Christoffer. “Today, we’re still a not-for-profit financial cooperative, and we’re still here to help.”
Eligibility requirements for Financial Hardship Loans include Veridian membership established no later than October 20, 2021. All Veridian members whose income is impacted by the current strike are also encouraged to complete the credit union’s Financial Hardship Form for a review of other assistance options. The form and Financial Hardship Loan application are both available at veridiancu.org/help.
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