Veridian deepens Twin Cities push.
The Iowa credit union is opening new branches across the Minneapolis-St. Paul suburbs as it builds on its 2023 entry into Minnesota.
Veridian Credit Union is accelerating its expansion in the Twin Cities, opening a new branch in Eden Prairie while laying plans for two more locations that will deepen the Iowa-based institution’s presence in one of the Midwest’s fastest-growing metropolitan markets.
The nearly $9 billion-asset credit union opened its new standalone branch on Flying Cloud Drive on July 7, replacing its previous Eden Prairie office and marking another milestone in an expansion strategy that began with Veridian’s acquisition of American Investors Bank and Mortgage in 2023.
Construction is expected to begin soon on additional branches in Maple Grove and Lakeville, extending Veridian’s footprint across the western and southern suburbs of Minneapolis-St. Paul.
“We’ve received such a warm welcome in Eden Prairie and have enjoyed becoming part of this community,” Branch Manager Carina Vandenakker said. “We’re excited to return that hospitality to new and existing members in a more convenient and accommodating space.”
The new Eden Prairie office, located at 8280 Flying Cloud Drive, spans nearly 2,900 square feet and includes a drive-up, an exterior 24-hour ATM and features that were not available at the credit union’s former office. That location now serves as a workspace for support staff rather than member-facing operations.
The Minnesota expansion comes as Veridian continues to grow both financially and geographically. The Waterloo, Iowa-based credit union reported nearly $9 billion in assets and 374,000 members at the end of the first quarter, up from 354,400 members a year earlier, according to National Credit Union Administration call report data. First-quarter earnings rose to $34.7 million from $29.7 million during the same period last year.
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The next phase of the expansion will include a 3,100-square-foot branch in Maple Grove at 11801 Arbor Lakes Parkway, scheduled to open in late 2026. A similarly sized office in Lakeville at 17942 Cedar Ave. is expected to open during the summer of 2027. Both locations will include three-lane drive-up facilities and exterior ATMs.
“These new branches will help us expand access to simple, helpful and in-person financial services that are designed in members’ best interests,” said Tom Fleck, Veridian’s Twin Cities regional manager. “It’s an exciting time of growth, and we’re eager to become part of these communities.”
Veridian entered Minnesota through its acquisition of American Investors Bank and Mortgage, an Eden Prairie-based institution that served communities throughout the Twin Cities metropolitan area. The transaction, completed in September 2023, gave the credit union its first physical presence in the state and established a foundation for broader expansion.
While many financial institutions continue investing heavily in digital banking, Veridian’s strategy pairs technology with new brick-and-mortar locations in growing suburban markets. The credit union said its new branches are intended to provide greater access to in-person banking while complementing its digital offerings.
The expansion coincides with a string of national recognitions for the credit union. Forbes recently named Veridian the top “Best-in-State Credit Union” in both Iowa and Nebraska for the second consecutive year. Freddie Mac recognized the institution with a 2026 Hope Possible RISE Award for the fastest growth in Home Possible mortgages, a program aimed at expanding affordable homeownership opportunities for lower-income borrowers.
The credit union has paired its Minnesota expansion with community outreach. Employees at the new Eden Prairie branch marked the opening by supporting local nonprofit organizations Move Forward and Onward Eden Prairie with donations of $2,500 each to assist programs serving at-risk youth and young adults.
The Minnesota growth follows another recent investment closer to home. In June, Veridian opened a new branch on Logan Avenue in Waterloo, restoring in-person banking services to the city’s north side after the closure of its branch inside a Hy-Vee grocery store last year.
“These new branches will help us expand access to simple, helpful and in-person financial services that are designed in members’ best interests.”
– Tom Fleck
Twin Cities Regional Manager
Veridian Credit Union
Ken McCarthy is manager of marketing communications at Tyfone, where he monitors the credit union industry and contributes to conversations shaping its future. He previously covered credit unions and community banking for American Banker and S&P Global Market Intelligence. He holds a journalism degree from Point Park University and has more than 15 years of experience covering financial services. He is also the author of three literary fiction novels.
