Veridian’s Racial Economic Equity Incubator receives national recognition

August 28, 2024

WATERLOO, Iowa (August 27, 2024) – Veridian Credit Union was recently recognized for its work leading a Racial Economic Equity (REE) Incubator with community partners in Waterloo, Iowa. Veridian is one of nine credit unions across the U.S. leading REE Incubators designed to take a unique, collaborative approach on efforts to close the racial wealth gap. The Veridian-led incubator specifically focuses on closing gaps in homeownership and access to other consumer lending for African American households in Black Hawk County, Iowa.

Veridian was first selected to lead an REE Incubator by Filene Research Institute in 2023 to explore ways to build upon and replicate outcomes of new and existing community partnerships.  In July, incubator leaders competed for Filene’s Catalyst Award at the Spark! Conference in Boston, Massachusetts. Veridian was recognized in second place, winning $2,500 for the Waterloo-based REE Incubator.

“Homeownership is one of the most impactful tools allowing many to achieve long-term financial stability and success,” said Veridian President and CEO Renee Christoffer. “That’s why we chose to focus our Racial Economic Equity efforts on helping people overcome barriers to homeownership. We’re fortunate to be joining so many impactful community partners in that work.”

Those partners include 24/7 BLAC, Iowa Heartland Habitat for Humanity, House of Hope, Try Pie and the City of Waterloo. Together, they created the Achieve Financial Empowerment Program to streamline and expand access to customized programs offered by each partner, including greater access to mortgages and other consumer loans.

Veridian Credit Union, founded in 1934 in Waterloo, Iowa, is a financial cooperative owned by the people who use its products and services - its members. The credit union offers a full range of business and consumer financial services with more than 1,000 employees and 32 branches across Iowa, eastern Nebraska and the Twin Cities metro area. For more information, visit veridiancu.org or call (800) 235-3228.