Veridian Credit Union makes disaster assistance loans available
WATERLOO, IA (March 18, 2014) — Veridian Credit Union has set aside $3 million to offer disaster assistance loans to those who have suffered property damage or hardship due to recent weather conditions. This loan is designed to offer homeowners a low-interest way to help manage expenses resulting from weather-related damages to their home. Such damage might include, but is not limited to, frozen pipes, flooding or storm damage. Disaster Assistance Loan amounts are available up to $5,000 and have terms up to 36 months. The loan has a fixed rate between 6.75% APR and 7.5% APR, based on eligibility.
“Weather-related damages to a home can cause significant, unexpected expenses, and even temporary displacement for the owner,” said Doug Gilbertson, Veridian’s Senior Vice President of Operations. “The Disaster Assistance Loan is designed to offer a lower-interest option to homeowners who might otherwise turn to high-interest credit cards to make necessary repairs.”
Individuals may apply for a Disaster Assistance Loan through July 1, 2014, or until $3 million is loaned out, whichever occurs first. More details and applications are available in any Veridian branch, over the phone at (800) 235-3228 or online at veridiancu.org.
Veridian Credit Union, founded in 1934 in Waterloo, Iowa, is a not-for-profit financial cooperative owned by its members. The credit union offers a full range of consumer financial services and employs more than 600 Iowans throughout 26 branches. For more information, visit veridiancu.org or call (800) 235-3228.
*APR = Annual percentage Rate. Rates, terms, and conditions subject to change without notice. Loans subject to credit approval. Loyalty Discount of .25% APR is obtained with enrollment in direct deposit of net income and automatic payments from a Veridian account. For a $5,000 Disaster Assistance Loan with a term of 36 months at 6.75% APR, the monthly payment will be $155.